Only 20 of Nigeria’s 33 deposit money banks have met the Central Bank of Nigeria’s (CBN) new minimum capital requirements less than a month before the March 31, 2026, deadline, CBN governor Olayemi Cardoso said.
“Of the 33 banks that have raised additional capital, 20 have met the new minimum capital requirements, reaffirming the steady progress towards a more robust capitalised financial system,” he said during the Monetary Policy Committee (MPC) briefing on Tuesday.
His comments come as Nigeria’s most ambitious banking recapitalisation drive in nearly two decades enters its final stretch, with lagging lenders facing shrinking options ahead of the March deadline.
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