Nigeria: 14 Nigerian commercial banks are yet to meet the Central Bank of Nigeria\u2019s recapitalisation requirement as the 31st March 2026 deadline inches closer.<\/p>\n
This follows CBN Governor, Olayemi Cardoso\u2019s announcement on Tuesday that sixteen Nigerian banks have met their recapitalisation requirement ahead of the apex bank\u2019s March 2026 deadline.<\/p>\n
Cardoso disclosed this in a statement after the bank\u2019s 303rd Monetary Policy Committee in Abuja.<\/p>\n
According to Cardoso, the development indicates that there is financial soundness in the country\u2019s financial banking system.<\/p>\n
MPC had been urged by banks to ensure a successful implementation of the recapitalisation process.<\/p>\n
\u201cThe committee noted with satisfaction the sustained resilience of the banking system, with most financial soundness indicators remaining within regulatory thresholds,\u201d Cardoso said.<\/p>\n
\u201cAcknowledged the substantial progress in the ongoing recapitalisation programme, with 16 banks achieving full compliance with the revised capital requirements.<\/p>\n
\u201cThe committee thus urged the Bank to ensure a successful implementation and conclusion of the programme, among other domestic developments,\u201d Cardoso said.<\/p>\n
This means that two additional Nigerian banks have been added to the list of banks which have complied with the apex bank recapitalisation requirement in the last two months.<\/p>\n
Recall that Cardoso, in the 302nd MPC meeting, announced that only fourteen banks have met the recapitalisation requirement<\/p>\n
CBN records as of 2024 showed that the country has thirteen commercial banks, five merchant banks and seven financial holdings companies.<\/p>\n
Earlier, a report emerged that Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, Stanbic IBTC, and others have already met CBN\u2019s recapitalisation requirement.<\/p>\n
CBN in March directed commercial banks with international authorisation to\u00a0 \u00a0 to N500 billion, while those with national licences must raise it to N200 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
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