Some 31 banks have successfully complied with the new minimum recapitalisation requirements set for banks with the looming March 31, 2026 deadline set by the Central Bank of Nigeria (CBN) approaching.
The recapitalisation programme, which began in 2024 under CBN Governor Olayemi Cardoso, is designed to strengthen Nigeria’s banking system, increase resilience against economic shocks, and position banks to finance large scale investments in infrastructure and industry.
This reform is one of the most significant banking sector overhauls since the 2004 consolidation carried out by former CBN Governor Charles Soludo, which reduced the number of banks from 89 to 25.
Under the new framework, banks must meet the following minimum capital thresholds:
* International commercial banks: ₦500 billion
* National commercial banks: ₦200 billion
* Regional banks: ₦50 billion
* Merchant banks: ₦50 billion
* Non interest banks: ₦20 billion for national licences
Banks that fail to meet the requirements risk license downgrade, forced mergers, or acquisitions.
Below is the list of banks that have already crossed the recapitalisation hurdle.
International Banks (₦500 Billion Minimum)
These are the largest banks allowed to operate across multiple countries.
1. Access Bank
2. Zenith Bank
3. First Bank of Nigeria (via First HoldCo)
4. Guaranty Trust Bank (under Guaranty Trust Holding Company)
5. United Bank for Africa
6. Fidelity Bank
7. First City Monument Bank
National Commercial Banks (₦200 Billion Minimum)
1. Ecobank Nigeria
2. Stanbic IBTC Bank
3. Sterling Bank
4. Wema Bank
5. Citibank Nigeria
6. Standard Chartered Bank Nigeria
7. Globus Bank
8. PremiumTrust Bank
9. Providus Bank (after merger with Unity Bank)
10. Alpha Morgan Bank
11. Titan Trust Bank / Union Bank of Nigeria
12. Optimus Bank
Regional Banks (₦50 Billion Minimum)
1. Signature Bank Nigeria
2. Parallex Bank
3. SunTrust Bank Nigeria
Merchant Banks (₦50 Billion Minimum)
1. FSDH Merchant Bank
2. Greenwich Merchant Bank
3. Nova Merchant Bank
4. Rand Merchant Bank Nigeria
5. Coronation Merchant Bank
Non Interest Banks (₦20 Billion Minimum)
1. Jaiz Bank
2. Lotus Bank
3. TAJBank
4. The Alternative Bank
For customers worried about their savings, financial analysts say there is no reason to panic as the recapitalisation programme is not meant to close banks but to make them stronger and more capable of supporting economic growth.
