CBN Recapitalisation Deadline 2026: Which Nigerian Banks Are Safe and Which Are Still Struggling
- Nigerian banks are nearing compliance with CBN's recapitalisation directive before the March 31 deadline
- Majority of banks have raised ₦4.05 trillion, showcasing strong domestic and foreign investor confidence
- Some banks face delays, yet most expected to finalise processes in time for full compliance
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
With just days to the March 31, 2026, deadline, Nigerian banks are making final moves to comply with the Central Bank of Nigeria’s (CBN) recapitalisation directive.
The apex bank is expected to issue a major update this week, as most lenders close in on the new capital thresholds.
Source: Twitter
The recapitalisation policy, introduced in March 2024, requires banks to significantly boost their capital base, with international commercial banks expected to meet a minimum of ₦500 billion, alongside lower thresholds for other categories.
CBN Governor Olayemi Cardoso has expressed confidence that the process will be completed on schedule, noting that only a handful of institutions are still resolving outstanding issues.
The majority of banks meet capital targets
Findings indicate that the majority of Nigerian banks have either met or are very close to meeting the new requirements.
According to the CBN, total verified and approved capital raised stood at ₦4.05 trillion as of February 19, 2026.
Of this amount, ₦2.90 trillion, representing 71.6 per cent, was sourced locally, while $706.84 million (₦1.15 trillion) came from foreign investors. This mix highlights strong domestic participation alongside growing international confidence in Nigeria’s banking sector.
Analysts say this performance has exceeded expectations, especially given initial fears about the size of the capital gap when the policy was first announced.
Banks are still struggling to finalise the process
According to a report by Punch, despite the overall progress, a few banks are still working to meet the deadline. Delays in merger arrangements between two institutions have slowed their compliance, although indications suggest these issues may be resolved within the week.
In addition, about three banks remain under regulatory scrutiny. Their final capital status depends on ongoing supervisory actions and possible support measures from regulators.
However, experts note that many of the banks yet to be formally cleared have already raised the required funds and are only awaiting regulatory verification and documentation approval.
Special cases under regulatory intervention
The CBN has clarified that banks currently under regulatory intervention are being treated as special cases.
These institutions are not expected to follow the same recapitalisation timeline due to legal and structural complexities.
Cardoso emphasised that such banks are receiving close supervision to ensure an orderly and credible outcome. He also reassured customers that deposits in these institutions remain safe and fully protected.
“Depositor funds remain secure, and operations continue under close regulatory oversight,” he stated.
Strong investor confidence drives success
Financial analysts, including experts at Agusto & Co, describe the recapitalisation exercise as a success story. They highlight the significant role played by domestic investors, who contributed the bulk of the capital raised.
The exercise has not only strengthened banks’ balance sheets but also reinforced confidence in the Nigerian financial system.
Final countdown to compliance
As the deadline approaches, attention is focused on the remaining institutions expected to complete their mergers and capital verification processes within days.
If successfully concluded, the recapitalisation exercise is set to usher in a stronger, more resilient banking sector, better positioned to support economic growth and withstand financial shocks.
Source: Twitter
Three Nigerian banks yet to meet capital requirement
Legit.ng earlier reported that the Central Bank of Nigeria (CBN) has revealed that three Nigerian banks are yet to meet the new minimum capital requirements introduced as part of its banking sector recapitalisation programme.
The disclosure comes just weeks before the regulatory deadline of March 31, 2026, raising attention across the financial industry as institutions race to comply with the new capital thresholds.
According to the apex bank, the majority of lenders have successfully strengthened their capital base, with only a small number still undergoing final verification of their financial positions.
Source: Legit.ng
