Two Nigerian Banks Meet CBN’s N500 Billion Recapitalisation Target

• A recent report has indicated that two Nigerian banks have already met and exceeded the N500 billion recapitalisation target set by the CBN
• Access Bank and Zenith Bank have exceeded the mark with a capital base of N594.90 billion and N614.65 billion, respectively
• The report noted that other banks such as Ecobank, Fidelity Bank, First Bank, and others are on course to beat the deadline

Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.

Two commercial banks have already met and beaten the Central Bank of Nigeria (CBN) March 31, 2026, deadline for the new N500 billion minimum capital base requirement for commercial banks.

The two tier-1 lenders are Zenith Bank and Access Holdings, which exceeded the N500 billion threshold and share premium ceiling set by the apex bank.

Zenith Bank, Access exceed CBN’s requirement

This is according to a report by Proshare, which said that Zenith Bank leads with a share capital and share premium of N614.65 billion, followed by Access Bank at N594.90 billion.

Other tier-1 banks, including Ecobank and Guarantee Trust Bank, are training closely behind with N353.51 billion and N345.30 billion, respectively.

Ecobank displace Zenith in tier-1 ranking

Proshare disclosed that a shift in dynamics in the banking hierarchy is taking place, with Ecobank displacing Zenith Bank from the top tier-1 list, due to its 67.11% asset rally and its francophone West African operations.

The report noted that Fidelity Bank is on track to return to the tier-1 group by the end of 2025.

This is despite Fidelity Bank’s recent N225 billion Supreme Court judgement tied to its legacy acquisition of FSB International Bank.

Proshare revealed that the bank could still maintain adequate liquidity if it manages the judgment impact wisely.

The analysts evaluated the larger implications of the recapitalisation drive, especially amid shifting customer expectations and banking trends.

It revealed that Nigerian banks’ recapitalisation is not new, but the era is different, noting that the contemporary era is based on a shift in the banks’ customers’ needs.

Proshare analysts also evaluated the broader implications of the recapitalisation drive, especially amid shifting customer expectations and banking trends.

Meet Nigeria’s biggest banks by assets

Proshare pointed out that while asset size has been used to traditionally rank banks, asset growth is becoming key to measuring market dynamics.

The top biggest banks in Nigeria by asset base include Ecobank, Wema Bank, FCMB, FirstHoldco, and AccessCorp.

The report raised concerns about non-performing loans and suboptimal balance sheet leverage in the banking industry.

Few banks may not meet the CBN’s target

It added that while off-balance sheet transactions have risen globally, these banking-type operations are relatively underutilised in Nigeria.

The Proshare analysts said the long-term outlook is positive as the lenders boost capital adequacy ratios (CARs) and risk management frameworks in response to the recapitalisation target.

The report disclosed that the March 31, 2026, recapitalisation deadline by the CBN is realistic, with most banks making serious progress, with few lagging.

GTBank, Zenith, 7 others are Nigeria’s most profitable banks

Legit.ng earlier reported that about 10 Nigerian banks started 2025 on a positive note, generating about N1.83 trillion in profit after tax in the first quarter of the year.

An analysis of the banks' unaudited financials reveals that Zenith Bank, Ecobank, First Bank, Access Bank, Guaranty Trust Bank, UBA, Wema Bank, Fidelity Bank, FCMB and Stanbic IBTC are the top performers during the period under review.

The report showed that the profit before tax grew by 3.5 % compared to N1.77 trillion reported in Q1 2024.

Source: Legit.ng