21 banks meet new capital requirements ahead of CBN deadline

By Johnson Arua

As of January 8, 2026, no fewer than 21 Nigerian banks have met the new minimum capital requirements set by the Central Bank of Nigeria (CBN), months ahead of the March 31, 2026 deadline.

The recapitalisation exercise follows a CBN directive aimed at strengthening the financial system, improving banks’ shock-absorption capacity, and aligning Nigeria’s banking sector with global best practices.

Banks That Have Met the Requirements

According to industry data as of January 8, the compliant banks cut across international, national, merchant, and non-interest banking categories.

International Banks (₦500 billion minimum capital)

Access Bank
Fidelity Bank
First Bank of Nigeria
Guaranty Trust Bank (GTCO)
United Bank for Africa (UBA)
Zenith Bank

National Banks (₦200 billion minimum capital)

Citibank Nigeria
Ecobank Nigeria
Globus Bank
Stanbic IBTC Bank
Sterling Bank
Wema Bank
PremiumTrust Bank
Providus Bank

Merchant Banks (₦50 billion minimum capital)

FSDH Merchant Bank
Greenwich Merchant Bank
Nova Merchant Bank
Rand Merchant Bank
Non-Interest Banks (₦10 billion–₦20 billion minimum capital)
Jaiz Bank
Lotus Bank
TAJBank

CBN Capital Thresholds

Under the CBN recapitalisation framework:
International banks must maintain a minimum capital base of ₦500 billion
National banks are required to hold ₦200 billion

Merchant banks must meet ₦50 billion
Non-interest banks are expected to maintain between ₦10 billion and ₦20 billion, depending on their licence category

Regulatory Context

The CBN had earlier directed banks to comply with the new thresholds by March 31, 2026, warning that failure to meet the requirements could lead to regulatory sanctions, mergers, or licence downgrades. The apex bank said the exercise is critical to supporting economic growth, enhancing financial stability, and boosting investor confidence.

Industry Outlook

Analysts say early compliance by the 21 banks reflects strong balance sheets, effective capital-raising strategies, and investor confidence. However, attention is now focused on smaller lenders still racing against time to meet the deadline.

The CBN is expected to continue monitoring compliance and provide periodic updates as the deadline approaches.

References: Central Bank of Nigeria recapitalisation guidelines; banking industry compliance data as of January 8, 2026.