Domestic Investors Lead N4.65trn Bank Capital Drive, CBN Confirms
The Central Bank of Nigeria (CBN) has formally announced the conclusion of its 24-month banking sector recapitalisation programme, with participating lenders raising a combined N4.65 trillion in fresh capital.
Domestic investors accounted for 72.55 per cent of the total funds raised, contributing approximately N3.37 trillion, while international investors supplied the remaining 27.45 per cent, according to a statement jointly signed by the Director of Banking Supervision, Olubukola Akinwunmi, and the Acting Director of Corporate Communications, Hakama Sidi-Ali. The programme ran from March 2024 to March 2026.
The CBN confirmed that 33 banks have met the revised minimum capital requirements. A limited number of institutions remain subject to ongoing regulatory and judicial processes, which the bank said were being addressed through established supervisory and legal frameworks. All banks remain fully operational, the CBN added.
CBN Governor Olayemi Cardoso said, “The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
The programme has strengthened Capital Adequacy Ratios (CAR), with the sector maintaining levels above international Basel benchmarks. Minimum CAR thresholds remain at 10 per cent for regional and national banks and 15 per cent for banks with international authorisation.
The apex bank said the recapitalisation, implemented alongside an orderly exit from regulatory forbearance, had improved asset quality, reinforced balance sheet transparency, and enhanced overall financial system stability.
Data from the National Bureau of Statistics (NBS) showed that foreign capital inflows into the banking sector rose by 93.25 per cent year-on-year to $13.53 billion in 2025 from $7.00 billion in 2024.
However, the Centre for the Promotion of Private Enterprise (CPPE) has cautioned that despite the strengthened banking system, credit to small businesses remains weak. The CPPE said private sector credit relative to GDP remained at about 17 per cent as of 2025, below the sub-Saharan African average of about 25 per cent.
CPPE Director, Dr Muda Yusuf, said, “The critical question now is whether this stronger banking system will sufficiently support the real economy. The evidence suggests that this linkage remains weak.”