The Central Bank of Nigeria has announced that 33 banks have successfully met the new minimum capital thresholds set under its recently completed recapitalisation programme, a significant step toward strengthening Nigeria’s financial system.
According to the apex bank, the 24-month exercise mobilised a total of N4.65 trillion, lifting capital adequacy ratios across the industry above Basel standards and enhancing banks’ ability to drive economic growth and withstand financial shocks.
The recapitalisation effort also drew robust local investor support, with 72.55 per cent of the funds raised domestically, underscoring rising confidence in Nigeria’s banking sector.
The CBN stated that the recapitalisation process was carried out seamlessly, without disrupting banking operations, while a small number of institutions are still undergoing regulatory and judicial review in line with existing supervisory frameworks.
More to come…
