The majority of the money raised under its banking sector recapitalization program, or 72.55 percent of the N4.65 trillion total capital secured by lenders, came from domestic investors, according to the Central Bank of Nigeria on Wednesday.
In a statement at the end of the exercise, which started in March 2024 and saw 33 banks achieve the new minimum capital criteria, the top bank revealed this.
Olubukola Akinwunmi, Director of Banking Supervision, and Hakama Sidi-Ali, Acting Director of Corporate Communications, signed the statement together.
Nigerian investors contributed almost N3.37 trillion of the total capital raised, according to the CBN, demonstrating strong local confidence in the banking industry. The remaining 27.45 percent came from overseas investors.
“Over the 24-month period, Nigerian banks raised a total of N4.65tn in new capital, strengthening the resilience of the financial system and enhancing its capacity to support the economy,” the statement said.
Olayemi Cardoso, the governor of the CBN, commented on the results, saying, “The recapitalization program has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.”
While several institutions were still going through legal and regulatory procedures, the bank reported that 33 lenders had reached the updated capital requirements.
“The CBN confirms that 33 banks have met the revised minimum capital requirements established under the programme,” it stated.
“A limited number of institutions remain subject to ongoing regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks.
All banks remain fully operational, ensuring continued access to banking services for customers.”
The regulator emphasized that the recapitalization process was finished without interfering with banking operations across the country, pointing out that important prudential metrics, especially capital adequacy ratios, had improved and continued to be higher than international Basel benchmarks.
The minimum capital adequacy ratios were set at 15% for banks with international licenses and 10% for regional and national banks.
The exercise, according to the CBN, corresponded with a progressive withdrawal from regulatory forbearance, which reinforced balance sheet transparency, improved asset quality, and improved overall system stability.
The top bank stated that it has reinforced its risk-based supervision structure, which includes requirements for sufficient capital buffers and regular stress tests, in order to maintain the gains.
It further stated that in order to enhance governance, risk management, and resilience throughout the industry, supervisory and prudential rules would be routinely reviewed.
In the meantime, foreign capital inflows into the banking industry increased by 93.25 percent year over year to $13.53 billion in 2025 from $7.00 billion in 2024, according to statistics from the National Bureau of Statistics, indicating substantial investor interest during the recapitalization campaign.
The Center for the Promotion of Private Enterprise, however, has issued a warning, stating that although the banking system has been reinforced, financing to small enterprises is still inadequate and that the real economy has not yet completely benefited from the reforms.
