As of January 6, 2026, at least 19 Nigerian banks have met the Central Bank of Nigeria’s revised minimum capital requirements, signalling early compliance ahead of the March 31 deadline.
The recapitalisation exercise, part of broader CBN reforms to strengthen the resilience of the financial system, raises minimum paid-in capital thresholds across banking licence categories. The policy aims to enhance banks’ shock-absorbing capacity, support larger credit creation, and align Nigeria’s banking sector with regional and global standards.
Market data shows that six banks with international banking licences have met the N500 billion minimum requirement. These include Access Bank, Fidelity Bank, First Bank of Nigeria, Guaranty Trust Bank, United Bank for Africa, and Zenith Bank. Collectively, these lenders dominate Nigeria’s cross-border banking activities and systemically important transactions.
Eight banks licensed to operate nationally have met the N200 billion threshold, including Citibank Nigeria, Ecobank Nigeria, Globus Bank, Stanbic IBTC Bank, Sterling Bank, Wema Bank, PremiumTrust Bank, and Providus Bank. Three merchant banks, FSDH Merchant Bank, Greenwich Merchant Bank, and Nova Merchant Bank, have also complied with the N50 billion requirement. Non-interest banks Jaiz Bank and LOTUS Bank have met revised thresholds of N10–20 billion, reflecting the growing role of ethical and Shariah-compliant finance.
Fidelity Bank was the most recent to meet the international licence requirement, raising between N250 billion and N270 billion through a private placement on December 31, 2025. With existing share capital and share premium of approximately N306 billion, the bank now comfortably exceeds the N500 billion minimum.
As of April 2025, Nigeria’s banking landscape comprised 44 deposit-taking banks, including commercial, merchant, regional, and non-interest banks. The CBN has given all lenders until March 31, 2026, to meet the new capital levels through equity injections, mergers, or licence downgrades. Banks that fail to comply risk regulatory sanctions, including operational restrictions.
Market analysts suggest that early compliance by these 19 banks could strengthen investor confidence and reduce systemic risk, even as attention turns to how remaining lenders plan to meet the deadline. The CBN is expected to provide periodic updates on the progress of the recapitalisation exercise.
