Nigerian banks are ramping up capital-raising efforts as the Central Bank of Nigeria’s March 31, 2026 recapitalisation deadline approaches, with just 200 days left on the clock.

The exercise, which began with a sector-wide shortfall of about ₦4.1 trillion, has already seen lenders raise roughly ₦2.8 trillion through rights issues, public offers, and strategic deals, including mergers and acquisitions.

The new thresholds require international banks to maintain a minimum capital of ₦500 billion, national banks ₦200 billion, and regional banks ₦50 billion, measures the CBN says will bolster financial system stability and resilience against economic shocks.

So far, 11 lenders — including Access Holdings, Zenith Bank, GTBank, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank, and Premium Trust Bank, have met the requirements.

GTBank recently strengthened its balance sheet with a ₦365.85 billion injection from parent company GTCO, raising its paid-up capital from ₦138 billion to ₦504 billion.

Access Bank and Zenith Bank, both tier-one lenders, secured their positions early through rights issues and public offers, removing uncertainty about their status and sending positive signals to investors and depositors.

Several other banks are still in the market. UBA) is currently conducting a rights issue, recently extended to September 19, 2025, with approval from the Securities and Exchange Commission.

Analysts remain confident the tier-one lender will comfortably meet its target.

Fidelity Bank has so far raised over ₦273 billion and plans to complete the exercise through a private placement. FCMB, which has already mobilised ₦144.6 billion, is seeking additional funds via divestments from subsidiaries such as Credit Direct and FCMB Pensions, alongside offshore placements.