The ongoing Central Bank of Nigeria Banking Sector Recapitalisation Programme has enabled Nigerian banks to raise N4.61 trillion in fresh capital.
The apex bank disclosed this milestone in a press statement on Tuesday, following remarks by Olayemi Cardoso, the CBN Governor, at the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and Supervision held in Abuja. According to the CBN, the capital mobilisation effort is part of a policy initiative launched in 2024 to strengthen the resilience of Nigerian banks amid significant macroeconomic reforms.
Governor Cardoso highlighted that the programme, which preceded recent subsidy removals and exchange rate reforms, was a proactive measure designed to prepare Nigerian banks for emerging financial challenges. “In 2024, the CBN anticipated upcoming challenges and launched the Banking Sector Recapitalisation Programme to strengthen the resilience of Nigerian banks,” he stated..
The apex bank noted that foreign investors accounted for nearly 27 per cent of the total capital inflow, showcasing growing international interest in Nigeria’s banking sector. The recapitalisation exercise has already begun yielding tangible results, including enhanced investor confidence and the expansion of Nigerian banks into other African markets.
The N4.61 trillion raised represents an increase of about N560 billion over the N4.05 trillion in verified and approved capital reported by the CBN in February 2026, indicating strong momentum in the final phase of the exercise leading up to the March 31 recapitalisation deadline. The programme, the CBN explained, is aimed at ensuring banks are well-positioned to absorb economic shocks while supporting sustained growth in the domestic economy.
Beyond the mobilisation of capital, Governor Cardoso reaffirmed the apex bank’s commitment to strict corporate governance and financial discipline across the banking sector. “Our stance on corporate governance is unequivocal: zero tolerance for violations. By ending years of regulatory forbearance, we have reinforced accountability, tightened supervision, and elevated compliance standards across the sector,” he said.
The CBN has also implemented measures to enforce credit discipline, particularly targeting large borrowers with non-performing loans. “We have introduced restrictions on banking services to non-performing large-ticket obligors. This decisive step underscores our commitment to credit discipline, financial integrity, and accountability,” Cardoso added.
The forum, which drew CBN officials and financial regulators from six African countries, also explored the need for enhanced collaboration among regulators as cross-border banking activity intensifies. The CBN stressed that increased financial integration across Africa necessitates coordinated oversight to mitigate systemic risks.
In addition, the apex bank reaffirmed its commitment to orthodox monetary policy, with a focus on restoring price stability and strengthening policy credibility. It also highlighted ongoing reforms in the fintech sector aimed at balancing financial innovation with system stability through robust regulatory frameworks. Discussions at the forum further addressed emerging risks, including digital finance, artificial intelligence, and climate-related vulnerabilities within the financial sector.
Market analysts say the N4.61 trillion capital mobilisation not only strengthens Nigeria’s banking sector but also positions it as a model for other African economies seeking to deepen financial sector resilience and attract foreign investment. “This level of investor participation, particularly from abroad, signals a growing confidence in Nigeria’s regulatory environment and the growth potential of its banks,” noted one financial strategist.
As the CBN continues to implement reforms and enforce stricter governance, the recapitalisation programme is expected to play a critical role in stabilising the sector, expanding its footprint across the continent, and ensuring that Nigerian banks are equipped to meet both domestic and regional growth opportunities.
