Nigerian banks are being recognised for their resilience and stability, with the Central Bank of Nigeria (CBN)-led Monetary Policy Committee (MPC) affirming that the banking sector remains safe and sound.
At its 303rd meeting in Abuja, the MPC expressed satisfaction with the sustained strength of the banking system, noting that key financial soundness indicators continue to fall within regulatory thresholds. Committee members also acknowledged significant progress in the ongoing bank recapitalisation programme, reporting that 16 banks have already achieved full compliance with the revised capital requirements.
The MPC urged the CBN to ensure a smooth and successful conclusion of the recapitalisation exercise, now less than four months from its March 31, 2026 deadline.
CBN Governor Olayemi Cardoso, speaking at the recently held Bankers’ Dinner in Lagos, reaffirmed that the recapitalisation process is firmly on track. He highlighted that several banks have already met the new capital thresholds, while others are steadily advancing toward full compliance.
“To date, 27 banks have raised capital through public offers and rights issues, and sixteen have already met or exceeded the new requirements — a clear testament to the depth, resilience, and capacity of Nigeria’s banking sector,” Governor Cardoso said.
The MPC’s recognition signals confidence in Nigeria’s financial system, reinforcing the sector’s ability to support economic growth, maintain financial stability, and meet evolving regulatory standards.
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