Thirty banks operating in Nigeria have met the recapitalisation requirements set by the Central Bank of Nigeria, with 19 days remaining before the March 31, 2026 deadline.

The recapitalisation programme was announced in November 2023 and later formalised through directives issued by the Central Bank on March 28, 2024.

The policy requires banks to increase their capital base according to the scope of their operations.

The initiative forms part of regulatory measures designed to strengthen the banking sector by ensuring institutions maintain sufficient capital relative to their operational scale.

Findings show that as of March 12, 2026, 30 of the 35 banks operating in the country have complied with the recapitalisation requirements.

Five banks have yet to meet the new capital thresholds. These institutions have 19 days remaining to comply before the regulatory deadline on March 31, 2026.

Two of the banks that are yet to meet the requirements are already involved in merger arrangements.

The banks identified in these arrangements are Union Bank of Nigeria and Unity Bank. The merger plans are expected to enable them meet the recapitalisation requirement.

Under the recapitalisation framework, banks must raise capital based on the category of licence they operate.

International commercial banks are required to increase their capital base from ₦50 billion to ₦500 billion. National commercial banks must raise their capital from ₦25 billion to ₦200 billion.

Regional commercial banks are required to increase their minimum capital base from ₦10 billion to ₦50 billion.

For non-interest banks, the minimum capital requirement is ₦20 billion for national licences and ₦10 billion for regional licences.

The recapitalisation policy requires financial institutions to strengthen their capital base in line with their licence category as the regulatory deadline approaches.