CBN Confirms 14 Banks Meet Recapitalisation Target Ahead of Deadline: Full List Revealed

• The Central Bank of Nigeria (CBN) has announced that 14 banks have fully met the recapitalisation target ahead of the deadline
• Olayemi Cardoso, CBN governor, stated this as he addressed journalists at the Monetary Policy Committee (MPC) meeting in Abuja
• He reaffirmed the soundness of the health of the financial sector, saying it remains within the projected benchmarks

Pascal Oparada, a reporter for Legit.ng, has over ten years of experience covering technology, energy, stocks, investment, and the economy.

With six months to the March 31, 2026, deadline, the Central Bank of Nigeria (CBN) has confirmed that about 14 banks have scaled the recapitalisation hurdle.

The governor of the CBN, Olayemi Cardoso, disclosed this on Tuesday, September 23, 2025, during the Monetary Policy Committee (MPC) meeting in Abuja.

Recapitalisation: 14 banks scale CBN's hurdle

The CBN boss said the financial sector has remained resilient, with most financial soundness indicators remaining within the projected benchmarks.

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According to Cardoso, the MPC members acknowledged the progress in the ongoing recapitalisation project, stating that 14 banks have fully met the new capital requirement.

The MPC members asked the lenders to continue implementing policies and initiatives that will drive the successful completion of the recapitalisation project.

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According to a Punch report, Cardoso also disclosed the successful termination of the forbearance measures and waivers on civil obligors, stating that the step has boosted transparency, risk management, and long-term financial stability in the banking sector.

He assured that the removal of the forbearance measures was only transitory and did not pose any risk to the soundness or stability of the banking industry.

Legit.ng reported that the CBN raised the minimum capital requirement for the banks with international licences to N500 billion.

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Many of the banks have raised funds via various means, including share capital offers, bond issuances, and private placements.

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The financial services regulator disclosed earlier that about eight banks have fully met its recapitalisation requirement.

A previous report by Legit.ng showed that about 12 lenders have fully met CBN’s recapitalisation target.

12 banks meet CBN target

Here’s a breakdown of the banks that have crossed the finish line:

• Access Holdings
• Zenith Bank
• GTBank (GTCO)
• Ecobank
• Stanbic IBTC
• Wema Bank
• Providus Bank
• Globus Bank
• Premium Trust Bank
• Greenwich Merchant Bank
• Jaiz Bank
• Lotus Bank

Safer banks for Nigerians

Nigeria’s recapitalisation drive is progressing faster than expected.

The early compliance of 12 banks shows resilience in a tough economy and sets the stage for a stronger, more competitive banking sector.

For customers, it could mean safer banks, better credit options, and a financial system ready to support Nigeria’s $1 trillion economy ambition.

Union Bank completes Titan Trust Bank merger

Legit.ng earlier reported that ahead of the March 31, 2026, banking recapitalisation deadline by the CBN, one of Nigeria’s oldest banks, Union Bank, has announced the successful merger with Titan Trust Bank.

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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.

Source: Legit.ng