Standard Chartered Meets CBN’s N200 Billion Minimum Capital Requirement as Deadline Nears
- Standard Chartered Bank Limited has announced that it met the N200 billion recapitalisation set by the CBN
- The banks disclosed that the move shows its financial foundation, long-term confidence in Nigeria’s economy
- Standard Chartered joins a select group of financial institutions demonstrating strong capitalization
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
Standard Chartered Bank Nigeria Limited has met the Central Bank of Nigeria’s (CBN) N200 billion minimum capital requirement for national commercial banks, months before the March 31, 2026 deadline.
The bank said the move underscores its solid financial foundation, long-term confidence in the Nigerian economy, and unwavering commitment to the country’s economic transformation.
Source: Twitter
The Central Bank’s recapitalisation directive, announced earlier in 2024, was designed to strengthen the resilience of Nigerian banks amid global economic headwinds and domestic currency volatility.
Confidence in Nigeria’s economic future
By meeting the requirement early, Standard Chartered joins a select group of financial institutions demonstrating strong capitalization and regulatory compliance ahead of schedule.
Speaking on the achievement, Chief Executive Officer of Standard Chartered Bank Nigeria Limited, Dalu Ajene, said the early compliance highlights the bank’s optimism about Nigeria’s growth trajectory.
“Delivering on the CBN’s recapitalisation directive ahead of schedule underscores our unwavering confidence in the resilience and potential of the Nigerian economy,” he stated.
Ajene added that the bank remains committed to fostering sustainable growth, supporting its clients, and contributing meaningfully to Nigeria’s financial and economic transformation. He emphasized that Standard Chartered’s early recapitalisation reinforces its position as a trusted financial partner to both individuals and corporate clients.
A legacy of partnership and stability
With over 170 years of global banking experience in Africa and 26 years of active operations in Nigeria, Standard Chartered has consistently leveraged its international expertise and local insights to design innovative banking solutions.
These efforts, the bank said, are aimed at empowering individuals, businesses, and communities to thrive in an evolving financial landscape.
Executive Director and Chief Financial Officer, Dayo Omolokun, reaffirmed the bank’s strategic focus on Nigeria, describing the recapitalisation as a strong signal of long-term commitment.
“The recapitalisation of Standard Chartered Bank Nigeria ahead of the March 2026 deadline reinforces the Group’s commitment to Nigeria as an important and strategic market on the African continent,” Omolokun said.
He recalled that since the bank’s re-entry into Nigeria as a wholly owned subsidiary in 1999, Standard Chartered has provided structured financial solutions worth billions of dollars, spanning trade finance, wealth management, and cross-border investments.
Strengthening Nigeria’s financial system
Industry analysts view the bank’s proactive compliance as a positive indicator of confidence and stability within the Nigerian banking sector.
With the recapitalisation drive, the CBN aims to ensure that local banks remain well-capitalized to withstand macroeconomic shocks and continue supporting critical sectors of the economy.
Source: Getty Images
Standard Chartered’s early completion of the N200 billion capital threshold not only reinforces its own balance sheet but also sends a strong signal about the attractiveness of Nigeria’s financial market to global investors.
As the recapitalisation deadline draws nearer, other banks are expected to intensify efforts to meet the regulatory benchmark and strengthen the country’s financial ecosystem.
Union Bank completes Titan Trust Bank merger
Legit.ng earlier reported that ahead of the March 31, 2026, banking recapitalisation deadline by the Central Bank of Nigeria (CBN), one of Nigeria’s oldest banks, Union Bank, has announced the successful merger with Titan Trust Bank.
The development follows a final approval from the CBN, sealing the final merger of the two banks.
According to a statement from Union Bank’s Chief Brand and Marketing Officer, Olufunmilayo Aluko, the merger concluded a process that began in 2021 and was expected to position the firm as a stronger force in Nigeria’s financial sector.
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Source: Legit.ng
