16 banks have met CBN recapitalisation threshold – Cardoso

The Central Bank of Nigeria (CBN) has revealed that 16 banks have met its recapitalisation threshold, marking steady progress in the industry’s efforts to strengthen balance sheets and comply with new regulatory requirements ahead of the March 2026 deadline.

CBN Governor Olayemi Cardoso disclosed the development on Tuesday during a press briefing at the end of the Monetary Policy Committee (MPC) meeting in Abuja.

The updated figure reflects an improvement from the 14 banks that had met the minimum capital requirement as of the last MPC meeting in September, signalling what the Bank described as growing compliance across the sector.

“The committee noted with satisfaction the sustained resilience of the banking system, with most financial soundness indicators remaining within regulatory thresholds,” Cardoso said.

He added that MPC members “acknowledged the substantial progress in the ongoing recapitalisation program, with 16 banks achieving full compliance with the revised capital requirements. The committee thus urged the Bank to ensure a successful implementation and conclusion of the program, among other domestic developments.”