Central Bank of Nigeria (CBN) has disclosed that 20 commercial banks have so far met its ongoing recapitalisation requirements as of Thursday, January 15, 2026, signalling steady progress as the March 31, 2026 deadline approaches.
The update was given by the CBN’s Deputy Governor for Economic Policy, Dr Muhammad Abdullahi, during a panel session at the launch of the 2026 Macroeconomic Outlook organised by the Nigerian Economic Summit Group (NESG) in Lagos.
He noted that the apex bank has remained actively engaged with financial institutions throughout the exercise and will continue to provide guidance in the coming months.
He added that beyond compliance, the CBN is now shifting attention to the quality of outcomes from recapitalisation, especially in terms of economic impact.
The latest figure represents an improvement from the 19 banks that had reportedly met the requirements as of January 6, 2026.
With Nigeria having about 33 commercial banks, the update suggests that roughly 13 institutions are yet to fully comply by submitting the necessary reports and meeting the stipulated capital thresholds.
Recall that in March 2024, the CBN set March 31, 2026 as the deadline for banks to meet new minimum capital requirements.
Under the framework, international banks are required to maintain a minimum capital base of N500 billion, national banks N200 billion, merchant banks N50 billion, while non-interest banks are to hold between N10 billion and N20 billion, depending on their licence category.
Meanwhile, the Proshare Intelligence Unit, in its Banks Recapitalisation Watch for the Week Ended January 15, 2026, reported that Nigeria’s banking sector continues to record steady progress, with most institutions confirming compliance with the revised capital guidelines issued by the CBN.
In a recent development, Rand Merchant Bank Nigeria Limited (RMBN) announced that it had met the minimum capital requirement for merchant banks, achieving full compliance as of December 30, 2025. The bank said the milestone reflects strong balance sheet resilience and sustained shareholder confidence in both its operations and the Nigerian economy.
