As of January 6, 2026, At least 19 Nigerian banks have met the new minimum capital requirements set by the Central Bank of Nigeria (CBN), signaling early compliance with the regulator’s sweeping banking sector recapitalisation programme ahead of the March 31, 2026 deadline.
The recapitalisation policy, announced to strengthen the resilience of the financial system, introduces higher minimum capital thresholds across different categories of banks—international, national, merchant, and non-interest institutions. The move is aimed at improving banks’ capacity to absorb shocks, support large-scale financing, and align Nigeria’s banking sector with global standards.
International Banks Lead Compliance
Six international banks have already met the new minimum capital requirement of ₦500 billion, positioning them strongly for cross-border operations and large-ticket financing. These banks include:
-
Access Bank
-
Fidelity Bank
-
First Bank of Nigeria
-
Guaranty Trust Bank (GTBank/GTCO)
-
United Bank for Africa (UBA)
-
Zenith Bank
Industry analysts note that most of these institutions had already embarked on capital-raising strategies before the formal deadline, leveraging retained earnings, rights issues, and strategic investments to meet the new benchmark.
Strong Showing Among National Banks
A total of eight national banks have also achieved the required ₦200 billion capital base. These banks are:
-
Citibank Nigeria
-
Ecobank Nigeria
-
Globus Bank
-
Stanbic IBTC Bank
-
Sterling Bank
-
Wema Bank
-
PremiumTrust Bank
-
Providus Bank
Their compliance reflects a combination of balance sheet restructuring, fresh equity injections, and improved profitability over recent years. Market watchers say early compliance could enhance investor confidence and competitive positioning within Nigeria’s increasingly demanding financial landscape.
Merchant Banks Make Progress
Three merchant banks have met the minimum capital requirement of ₦50 billion, demonstrating growing stability in a segment often seen as niche but critical for corporate finance and investment banking services. The compliant merchant banks are:
-
FSDH Merchant Bank
-
Greenwich Merchant Bank
-
Nova Merchant Bank
Merchant banks play a key role in structured finance, advisory services, and capital market activities, and the new capital threshold is expected to further professionalize the segment.
Non-Interest Banks Also Comply
Two non-interest (Islamic) banks have satisfied the revised capital requirements, which range between ₦10 billion and ₦20 billion, depending on their license category. The banks are:
-
Jaiz Bank
-
Lotus Bank
The inclusion and compliance of non-interest banks underscore the CBN’s commitment to a diversified and inclusive financial system that caters to different ethical and religious banking preferences.
Countdown to March 31, 2026
With less than three months to the March 31, 2026 deadline, attention is now focused on banks yet to meet the new thresholds. Financial experts expect increased merger and acquisition activity, rights issues, and private placements as institutions race to comply.
Regulators have reiterated that banks failing to meet the requirements by the deadline may face license downgrades, restrictions, or forced consolidation. As a result, early compliance by these 19 banks is seen as a strategic advantage in an evolving and more competitive banking environment.
Overall, the progress recorded so far suggests that Nigeria’s banking sector is steadily adjusting to the recapitalisation drive, a move widely regarded as critical to long-term financial stability and economic growth.
