The Central Bank of Nigeria (CBN) has confirmed that 21 commercial, merchant, and non-interest banks have successfully met the new minimum capital requirements as of January 8, 2026.
Newsonspot reports that the recapitalisation exercise is part of the CBN’s effort to strengthen Nigeria’s banking sector, improve financial stability, and position banks for long-term growth. The final deadline for all banks to comply is March 31, 2026.
According to the update, six international banks have met the ₦500 billion minimum capital requirement. These include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), United Bank for Africa (UBA), and Zenith Bank.
For national banks, which are required to meet a ₦200 billion capital threshold, eight institutions have complied. They are Citibank Nigeria, Ecobank Nigeria, Globus Bank, Stanbic IBTC, Sterling Bank, Wema Bank, PremiumTrust Bank, and Providus Bank.
In the merchant banking category, four banks have met the ₦50 billion requirement. These are FSDH Merchant Bank, Greenwich Merchant Bank, Nova Bank, and Rand Merchant Bank.
Meanwhile, three non-interest banks have fulfilled the required capital range of ₦10 billion to ₦20 billion. The banks are Jaiz Bank, Lotus Bank, and TAJBank.
The CBN has reiterated that banks yet to meet the requirements must do so before the March 31, 2026 deadline to continue operating under their current licences.
TheCableIndex
