The Central Bank of Nigeria (CBN) has confirmed that some banks are yet to meet the new recapitalization requirements. CBN Governor Olayemi Cardoso made this known after the 301st Monetary Policy Committee (MPC) meeting in Abuja on July 22, 2025.
The CBN set a 24-month deadline for banks to meet new capital requirements, starting from April 1, 2024, to March 31, 2026. The requirements include higher capital bases for banks with international licenses, national banks, and regional banks. This move aims to strengthen the banking sector and ensure financial stability in the country.
The MPC retained the Monetary Policy Rate (MPR) at 27.5% to sustain recent disinflationary momentum in the economy. This decision reflects the CBN’s efforts to manage inflation and maintain economic stability.
Cardoso expressed confidence in the banking sector, noting that the recapitalization exercise would further support the stability of the financial system. He emphasized the importance of banks meeting the new capital requirements to enhance their resilience and ability to support economic growth.
The CBN will continue to monitor banks’ progress and ensure they meet the recapitalization requirements before the deadline. The central bank is committed to maintaining a stable financial system and promoting economic development in Nigeria.
