CBN: 20 Banks Raise N4.05trn Ahead Of 2026 Recapitalization Deadline
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The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that 20 Nigerian banks have raised a total of N4.05 trillion under the ongoing recapitalisation programme ahead of the March 31, 2026 deadline.
Cardoso made this known on Tuesday while briefing journalists after the 304th meeting of the Monetary Policy Committee (MPC) held in Abuja.
According to him, 20 banks have fully met the new minimum capital requirements, while 13 others are still working towards compliance but have yet to meet the stipulated threshold.
Giving a breakdown of the funds raised as of February 19, 2026, the CBN governor said 71.67 per cent of the total amount was sourced domestically, while 28.33 per cent came from foreign investors.
He disclosed that N2.90 trillion — about 71.6 per cent — was mobilised within Nigeria, while $706.84 million, equivalent to N1.15 trillion or 28.33 per cent, was attracted from foreign participation.
Cardoso noted that the mix of domestic and foreign investments reflects broad investor engagement and sustained confidence in the banking sector.
The recapitalisation programme, which began in March 2024, is designed to strengthen the financial system and better position banks to support economic growth.
Meanwhile, at the MPC meeting, members agreed to cut the benchmark interest rate by 50 basis points to 26.5 per cent.
