ABUJA, Nigeria — Nigerian banks have raised a total of ₦4.65 trillion (approximately $3–3.5 billion) under a major recapitalization programme, the Central Bank of Nigeria has announced, as part of efforts to strengthen the country’s financial system.
According to the central bank, 33 commercial banks have met newly introduced capital requirements following a reform process that has spanned nearly two years.
The recapitalization initiative is aimed at improving the resilience of Nigeria’s banking sector, enabling lenders to better withstand economic shocks and support long-term growth in Africa’s largest economy.
Regulators say stronger capital buffers will enhance banks’ capacity to finance large-scale projects, expand lending, and deepen financial intermediation across key sectors.
The exercise comes amid broader efforts by authorities to stabilize the financial system in the face of persistent challenges, including inflationary pressures, currency volatility, and external economic risks.
While the central bank has described the programme as a major milestone, detailed breakdowns of capital raised by individual banks have not been fully disclosed as of the time of reporting.
Analysts note that although recapitalization is a critical step, additional reforms may be required to address structural issues such as non-performing loans and foreign exchange exposure within the sector.
The programme forms part of a wider regulatory push to restore investor confidence and position Nigeria’s banking industry for sustained growth in the coming years.
