The Central Bank of Nigeria (CBN) has announced that 33 banks have met the new minimum capital requirements under its recapitalisation programme, collectively raising about ₦4.65 trillion.

The apex bank said the funds were mobilised over a 24-month period, marking the completion of a major reform aimed at strengthening the banking sector and boosting its capacity to support economic growth.

According to the CBN, about 73 percent of the capital was sourced locally, reflecting strong participation and growing confidence among Nigerian investors in the financial system.

The regulator noted that the exercise has significantly improved capital adequacy across the sector, positioning banks above global benchmark standards and enhancing their resilience to economic shocks.

While most banks successfully met the requirements, the CBN indicated that a few institutions are still undergoing regulatory processes to determine their compliance status.

The recapitalisation initiative, introduced in 2024, required banks to increase their capital base based on licence categories, with the goal of building a more stable and competitive financial system.

The CBN added that the successful exercise is expected to improve lending capacity, deepen financial inclusion, and support long-term economic development.