The Central Bank of Nigeria (CBN) has confirmed that 16 banks have successfully met the recapitalisation requirements ahead of the March 31, 2026 deadline.
This announcement was made by CBN Governor Olayemi Cardoso while addressing journalists after the 303rd Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, November 25, 2025.
According to Governor Cardoso, these banks have demonstrated resilience by raising the required capital through various means, including share capital offers, bond issuances, and private placements.
One notable move was the merger of Union Bank with Titan Trust Bank, which enabled the combined entity to meet the capital requirement.
The banks that have met the recapitalisation target 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).
Governor Cardoso emphasized that the CBN is closely monitoring the remaining 27 banks still in the process of raising capital. He encouraged all lenders to continue implementing strategies and initiatives to successfully complete the recapitalisation exercise.
The early compliance by these 16 banks is seen as a positive signal for the Nigerian banking sector, ensuring a stronger and more competitive financial system. Customers may benefit from safer banks, improved credit options, and a sector capable of supporting Nigeria’s $1 trillion economic ambition.
Monetary policy updates
During the same session, Governor Cardoso announced that the Monetary Policy Rate (MPR) will remain at 27 percent, with the asymmetric corridor adjusted to +50 and –450 basis points. Other parameters, including the Cash Reserve Ratio (CRR) of 45 percent and liquidity ratio of 30 percent, remain unchanged.
He cited a slowdown in inflation from 18.02 percent in September to 16.05 percent in October as part of the rationale for keeping the MPR steady.
Naira gains and external reserves
Governor Cardoso also highlighted improvements in Nigeria’s foreign exchange market, noting that the gap between the official and parallel market rates has narrowed to 2 percent from around 60 percent previously.
Nigeria’s external reserves have grown to $46.7 billion, signaling strengthened economic stability.
He also celebrated Nigeria’s exit from the FATF Grey List, a move he said reflects strong collaboration among agencies like the CBN, NFIU, SEC, EFCC, and the Ministry of Finance. This achievement is expected to boost foreign investment, improve correspondent banking relationships, and lower remittance costs.
The CBN’s recapitalisation drive and its continued monitoring of banks show the central bank’s commitment to fortifying Nigeria’s financial system, making it more resilient in a challenging economic environment.