The Central Bank of Nigeria (CBN) confirmed that 16 banks have successfully met the recapitalisation requirements ahead of the March 31, 2026 deadline. Governor Olayemi Cardoso made the announcement after the 303rd Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, November 25, 2025.
The banks raised the required capital through share offers, bond issuances, and private placements. Notably, Union Bank merged with Titan Trust Bank, enabling the combined entity to meet the requirement.
The banks include 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, Polaris Bank, Unity Bank, Fidelity Bank, and Union Bank (merged with Titan Trust Bank).
CBN Monitors Remaining Banks
Governor Cardoso emphasized that the CBN is closely monitoring the 27 remaining banks still raising capital. He encouraged them to implement strategies to complete the recapitalisation exercise successfully.
Early compliance by these 16 banks signals a positive outlook for Nigeria’s banking sector. Consequently, customers can expect safer banks, better credit options, and a more competitive financial system capable of supporting Nigeria’s $1 trillion economic ambition.
Monetary Policy Updates
During the same session, the CBN announced that the Monetary Policy Rate (MPR) remains at 27 percent. The asymmetric corridor is adjusted to +50 and –450 basis points. Meanwhile, the Cash Reserve Ratio (CRR) and liquidity ratio remain at 45 percent and 30 percent, respectively.
Governor Cardoso explained that inflation slowed from 18.02 percent in September to 16.05 percent in October. This justified keeping the MPR steady.
Naira Gains and External Reserves
The CBN governor also highlighted improvements in the foreign exchange market. The gap between official and parallel rates has narrowed to 2 percent from around 60 percent previously.
Moreover, Nigeria’s external reserves rose to $46.7 billion, reflecting strengthened economic stability. The country also exited the FATF Grey List. Cardoso said this achievement demonstrates strong collaboration among agencies like the CBN, NFIU, SEC, EFCC, and the Ministry of Finance.
As a result, foreign investment is expected to increase, correspondent banking relationships should improve, and remittance costs may decrease.
Strengthening Nigeria’s Financial System
The recapitalisation drive and continued monitoring of banks show the CBN’s commitment to a resilient financial system. Despite technical challenges and crude supply constraints, the banking sector is now better positioned to support economic growth.
Additionally, the CBN’s efforts aim to improve operational efficiency, expand domestic production, and ensure long-term stability in Nigeria’s financial landscape.
