New Capital Threshold Exercise On Course As 30 Banks Meet CBN’s Requirements

BY COBHAM NSA – With about 24 days to the 31st March 2026 deadline, 30 banks have reportedly met the Central Bank of Nigeria (CBN)’s new minimum capital requirements applicable to their respective licence authorizations.

This development was confirmed in the latest update issued by the Apex Bank’s Acting Director, Corporate Communications, Hakama Sidi Ali, even as the CBN assured that customers’ deposits are not at risk during this transition period.

According to her, the information, computed as of 6th March 2026, also indicated that in total, 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme.

Further acknowledging that the recapitalisation exercise has recorded steady progress, the apex bank said the capital positions of the remaining banks are currently undergoing routine verification process ahead of final confirmation of compliance within the stipulated timeline.

The CBN, which assured the public that the Nigerian banking system remains stable and sound, said, “The recapitalisation programme remains firmly on track and will further strengthen the capacity of the banking sector to support households, businesses, and sustainable economic growth”.

The statement also pledged the CBN’s resolve to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements of all banks currently operating in the country.

As part of measures to strengthen financial stability and support a $1 trillion economy, the Apex bank had on March 28, 2024 mandated Nigerian banks to recapitalise by March 31, 2026.

Classifications of the New minimum capital requirements (paid-up capital + share premium) are as follows: ₦500 billion for international, ₦200 billion for national, and ₦50 billion for regional commercial banks; Merchant Banks ₦50 billion and Non-Interest Banks ₦20 billion (national) and ₦10 billion (regional).

Already , the following lenders have been listed and confirmed as compliant or have publicly announced reaching their respective capital thresholds ahead of the March 31, 2026 deadline:

Here are the banks and their categorisations

Commercial Banks (International – ₦500bn)
Access Bank
Zenith Bank
First Bank of Nigeria (First HoldCo)
Guaranty Trust Bank (GTCO)
United Bank for Africa (UBA)
Fidelity Bank

Commercial Banks (National – ₦200bn)
Citibank Nigeria
Ecobank Nigeria
Stanbic IBTC Bank
Sterling Bank
Wema Bank
Globus Bank
PremiumTrust Bank
Providus Bank (including the merged Unity Bank entity)
Optimus Bank

Merchant Banks (₦50bn)
FSDH Merchant Bank
Greenwich Merchant Bank
Nova Merchant Bank
Rand Merchant Bank

Non-Interest Banks (₦10bn–₦20bn)
Jaiz Bank
Lotus Bank
TAJBank
AltBank (Alternative Bank)

Meanwhile, on the current status of the exercise, available information indicates that the banks had raised approximately ₦4.05 trillion in verified total capital as of late February 2026.

However, the CBN is currently verifying the capital positions of the remaining three lenders to confirm their final compliance status.