Rand Merchant Bank Meets CBN Minimum Capital Requirement Ahead of March Deadline
- A merchant bank in Nigeria has met the CBN’s new minimum capital requirement
- The bank achieved the milestone on December 30, 2025
- Merchant banks are required to maintain a minimum capital base of N50 billion
Oluwatobi Odeyinka is a business editor at Legit.ng, covering energy, the money market, technology and macroeconomic trends in Nigeria.
Rand Merchant Bank Nigeria Limited (RMB Nigeria) has announced that it has met the new minimum capital requirement set by the Central Bank of Nigeria (CBN).
Source: UGC
The bank disclosed this in a statement released on Monday, confirming that it achieved the required capital threshold on December 30, 2025, PUNCH reported.
In March 2024, the CBN reviewed and raised minimum capital requirements for banks operating in Nigeria.
New capital requirements
Under the new framework, banks with international licences are required to maintain a minimum capital base of N500 billion, while national commercial banks must meet N200 billion.
Regional banks and merchant banks are required to have at least N50 billion each, while non-interest banks face thresholds of N20 billion for national operators and N10 billion for regional players.
RMB Nigeria said meeting the new capital requirement highlights its financial strength, resilience and commitment to regulatory compliance.
RMB Nigeria boasts of shareholders' confidence
The bank added that the milestone reflects strong shareholder confidence in both the institution and the Nigerian economy.
According to the bank, compliance with the CBN’s capitalisation directive positions it to deliver innovative financial solutions, strengthen customer confidence and contribute to the stability and growth of Nigeria’s banking sector.
Commenting on the development, the Chief Executive Officer of RMB Nigeria, Mr Bayo Ajayi, said the achievement underscores the bank’s long-term commitment to Nigeria’s financial system.
“We are proud to have met the CBN’s capitalisation requirement. This milestone reflects our shareholders’ confidence in the Nigerian economy and our dedication to delivering best-in-class corporate and investment banking services across Nigeria and Africa,” Ajayi said.
He added that the bank remains focused on building a stronger and more resilient institution capable of thriving in Nigeria’s evolving financial environment.
Source: UGC
With the achievement, RMB Nigeria joins a growing list of banks that have met the new minimum capital requirement ahead of the March 2026 deadline set by the CBN.
Speaking recently at the Bankers’ Dinner in Lagos, the Governor of the CBN, Mr Olayemi Cardoso, confirmed that the recapitalisation exercise remains on track.
He disclosed that several banks have already met the new thresholds, while others are making steady progress.
“To date, 27 banks have raised capital through public offers and rights issues, and 16 have already met or exceeded the new requirements, demonstrating the resilience and depth of Nigeria’s banking sector,” Cardoso said.
Banks accelerate recapitalisation efforts
Legit.ng earlier reported that Nigeria's banks were accelerating recapitalisation efforts ahead of the March 2026 deadline.
Banking stocks rallied in 2025 as GTCO, Zenith, UBA and 10 others lifted combined market capitalisation to N16.14 trillion, driven by the CBN’s recapitalisation push ahead of March 2026.
The surge represents an 86.8%, N7.5 trillion jump, giving banks 16.23% of NGX’s N99.38 trillion equity value overall market.
Source: Legit.ng
