Reporting by The Punch indicates that Nigerian commercial banks have successfully raised approximately N4.05 trillion in fresh capital. This massive liquidity injection comes as the industry races toward the March 31, 2026, deadline set by the Central Bank of Nigeria (CBN) for its comprehensive recapitalization exercise. CBN Governor Olayemi Cardoso confirmed that the verified funds represent a nearly 100% increase from the N2.4 trillion recorded in the first half of the previous year.
The surge in capital is expected to provide the necessary buffer for Nigerian financial institutions to support the federal government’s ambition of achieving a $1 trillion economy. By strengthening their balance sheets, banks are now better positioned to handle large-ticket transactions, particularly in the infrastructure and manufacturing sectors. The CBN chief noted that this stability is also reflected in the nation’s gross external reserves, which reached a 13-year high of $50.4 billion this February.
Beyond domestic stability, the capital boost is designed to enhance the global competitiveness of Nigerian banks. With larger capital bases, these institutions are increasingly looking to expand their footprints across the African continent, taking advantage of the African Continental Free Trade Area (AfCFTA) framework. The apex bank remains optimistic that the remaining weeks will see the final few banks cross the regulatory threshold.
This development has been corroborated by Premium Times and Leadership, which both highlighted the resilience of the financial sector. According to Premium Times, “The successful verification of N4.05 trillion by the apex bank signals a new era of financial depth for Nigeria.” Meanwhile, Leadership reported that “Market analysts view this capital milestone as a vote of confidence from both local and international investors in the Nigerian banking system.”
Echotitbits take:
This capital milestone is a massive win for the Cardoso-led CBN, proving that the aggressive reform agenda is yielding tangible results. For the average Nigerian, this means a more stable banking environment and a likely increase in credit availability for small and medium enterprises (SMEs). Watch for a flurry of new product launches and increased lending activity in the second quarter of 2026 as banks look to deploy their new capital.
Source: Legit.ng – https://www.legit.ng/business-economy/economy/1698537-cbn-unveils-number-banks-met-recapitalisation-requirement-4-weeks-deadline/, February 25, 2026
Photo credit: Legit.ng
