Full List: 21 Banks That Have Met CBN’s New Capital Requirement

Twenty-one Nigerian banks have now met the fresh capital requirements introduced by the Central Bank of Nigeria (CBN), as lenders move swiftly to comply before the March 31, 2026 deadline.

The recapitalisation programme, announced in 2024, raised minimum capital to N500 billion for international banks, N200 billion for national banks, and N50 billion for regional banks. Non-interest banks are required to hold N20 billion (national) and N10 billion (regional).

The exercise has triggered rights issues, private placements, mergers, and parent-company injections across the industry.

Advertisement

Below is a breakdown of the banks that have met the new rules:

International banks (N500bn minimum)

1. Access Bank – Raised N351bn via rights issue; total capital now exceeds N600bn.
2. Zenith Bank – Surpassed N600bn after public offers and rights issues.
3. First HoldCo (First Bank) – Met threshold through rights issue, private placement, and divestment proceeds.
4. GTCO (GTBank) – Boosted banking subsidiary capital above N500bn via multi-phase equity raise.
5. UBA – Combined capital injections pushed base above N500bn.
6. Fidelity Bank – Increased capital to over N560bn through private placement and prior public offer.

National banks (N200bn minimum)

Advertisement

7. Wema Bank – Wema Bank capitalisation hits N264.8bn, exceeding the CBN recapitalisation target.
8. Citibank Nigeria – Confirmed compliance; details undisclosed.
9. Standard Chartered Nigeria – Met requirement with support from UK parent.
10. Ecobank Nigeria – Crossed N200bn mark.
11. Globus Bank – Combined raises lifted capital above N200bn.
12. Stanbic IBTC – Achieved threshold via rights issue and parent injection.
13. PremiumTrust Bank – Exceeded N200bn through rights issue and private placement.
14. Providus Bank – Met requirement via merger with Unity Bank.

Merchant banks

15. FSDH Merchant Bank – Completed recapitalisation in line with CBN directive.
16. Greenwich Merchant Bank – Raised capital to regulatory minimum.
17. Nova Bank – Achieved compliance through fresh equity.
18. Rand Merchant Bank – Strengthened capital base under new rules.

Non-interest banks

19. Jaiz Bank – Boosted capital ahead of deadline.
20. Lotus Bank – Raised funds to meet national non-interest threshold.
21. TAJBank – Increased capital to comply with CBN mandate.

The CBN says the recapitalisation will enhance resilience, deepen credit capacity, and position banks to support Nigeria’s long-term growth agenda.