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THE Central Bank of Nigeria’s banking recapitalisation exercise, launched in March 2024, serves as a litmus test for an industry long celebrated for trillion-naira profits yet notorious for starving the real economy of credit.
With just four months left until the March 31, 2026, deadline, CBN Governor Olayemi Cardoso disclosed that 27 banks have tapped the capital market via public offers and rights issues.
Additionally, only 16 have fully met or exceeded the new minimum capital thresholds of N500 billion for internationally authorised banks, N200 billion for national banks, N50 billion for regional banks, and N10-20 billion for non-interest banks.
This means just 44.4 per cent of the 34 licensed commercial banks have met the recapitalisation requirements, signalling a potential wave of mergers.
