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ARTICLE · 08 APRIL 2026

Status Update On CBN’s Banking Sector Recapitalization

Tope Adebayo LP
Tope Adebayo LP
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In March 2024, the Central Bank of Nigeria (CBN) released the Banking Sector Recapitalization Programme (FPR/DIR/PUB/CIR/002/009)...

NigeriaFinance and Banking
Ifeoma Ezeribe
Ifeoma Ezeribe
Philip Francis
Philip Francis
Excellent Epelle
Excellent Epelle
Roqeebat Sulaimon
Roqeebat Sulaimon
Oluwanifemi Alade
Oluwanifemi Alade
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In March 2024, the Central Bank of Nigeria (CBN) released the Banking Sector Recapitalization Programme (FPR/DIR/PUB/CIR/002/009), requiring all commercial, merchant, and non-interest banks to significantly increase their minimum paid-in capital. The new requirements represented a substantial increase across board. International commercial banks had to grow their capital from N50 billion to N500 billion, while national commercial banks moved from N25 billion to N200 billion, and regional commercial banks from N10 billion to N50 billion. National merchant banks moved from N15 billion to N50 billion. For non-interest banks, national licence holders went from N10 billion to N20 billion, while regional licence holders moved from N5 billion to N10 billion. The directive gave banks a 24 – month window to comply, with a deadline of 31 March 2026.

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