The Central Bank of Nigeria, CBN, has reaffirmed the resilience of the banking sector, citing strong financial soundness indicators and steady progress in the ongoing recapitalisation exercise.
According to the Monetary Policy Committee, eight banks have already met the new capital requirements, with others on track to meet the March 2026 deadline. The CBN says it will sustain strict oversight to ensure the sector remains safe, stable, and capable of supporting broader economic goals.
Also read: CBN Denies Deadline Extension for BDC Recapitalisation
Governor Olayemi Cardoso noted that Nigeria’s ambition to achieve a $1 trillion GDP by 2030 hinges on a well-capitalised banking sector. He warned that current capital levels may be insufficient to service a rapidly expanding economy without urgent reforms.
The apex bank also assured the public of continued regulatory vigilance and robust risk management frameworks to safeguard depositors and ensure long-term financial system integrity.
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