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Inioluwa Ogunleye
1 day ago
Overview
The Central Bank of Nigeria (CBN) said the bank recapitalisation exercise is progressing steadily, with 16 banks already meeting the new capital requirements ahead of the March 31, 2026 deadline. Another 27 banks have also raised capital through various channels as the sector moves toward one of the most extensive reforms since 2004.
Governor Olayemi Cardoso disclosed the development on Tuesday in Abuja while briefing journalists at the end of the Monetary Policy Committee (MPC) meeting. He described the exercise as orderly and consistent with the regulator’s expectations.
“We are monitoring developments, and indications show the process is moving in the right direction,” he said.
