The Central Bank of Nigeria (CBN) set ambitious recapitalisation deadlines in March 2024, demanding that international-authorised banks raise their shareholders’ funds to ₦500 billion, national-authorised banks to ₦200 billion, and regional banks to ₦50 billion.

As of June 30, 2025, 5 Nigerian banks have already hit these marks, according to the CBN’s latest half-year report.

By the end of the first half of 2025, Access Bank, Zenith Bank, Ecobank Nigeria, Lotus Bank, and Jaiz Bank had all reached the required capital floors.

Access Bank and Zenith Bank, two of Nigeria’s largest tier-1 banks, each surpassed the ₦500 billion threshold. Ecobank Nigeria also cleared the ₦500 billion bar, while Lotus Bank (₦200 billion requirement) and Jaiz Bank (₦50 billion requirement) met their respective targets.

Recapitalisation serves two key purposes: strengthening banks’ resilience against shocks and supporting expanded lending capacity. When banks bolster their capital, they can better absorb losses, maintain regulatory ratios, and continue extending credit to households and businesses.

For a system-wide perspective, Nigeria’s banking industry held total regulatory capital of approximately ₦8 trillion at the end of 2024, up 12 percent year-on-year, evidence that many institutions are responding to the CBN’s call to shore up buffers.

While these five banks lead the pack, not all banks have moved at the same pace. A mid-June 2025 Proshare report noted that only two tier-1 banks, Zenith Bank and Access Holdings, had initially met the ₦500 billion share capital and premium requirement, leaving others like GTCO and United Bank for Africa still working toward the goal .

National banks such as United Bank for Africa (₦200 billion target) and Fidelity Bank (pending Supreme Court liability) remain on track but have not yet announced completion. Regional players like Wema Bank and Stanbic IBTC Holdings are in various stages of their rights issues to meet the ₦50 billion floor (punchng.com).

Looking Ahead: The March 2026 Deadline

The CBN’s recapitalisation window closes in March 2026. Regulators and market analysts will be watching how quickly the remaining banks close the gap.

In the longer term, the CBN has hinted at further reforms, potentially raising capital floors again or tightening liquidity requirements, to ensure Nigerian banks remain competitive in the broader African and global markets.