The Central Bank of Nigeria has announced that sixteen commercial banks have successfully achieved their recapitalisation targets well ahead of the March 2026 deadline. This significant milestone was revealed by CBN Governor Olayemi Cardoso during a press briefing following the 303rd Monetary Policy Committee meeting in Abuja.
Recapitalisation Progress and Banking Sector Strength
Governor Cardoso confirmed that sixteen financial institutions have fully complied with the capital requirements as of Tuesday, November 25, 2025. The successful banks include prominent names in the Nigerian financial landscape: Access Holdings, Zenith Bank, GTBank (GTCO), Ecobank, Stanbic IBTC, Wema Bank, Providus Bank, and Globus Bank.
Other institutions that met the target are Premium Trust Bank, Greenwich Merchant Bank, Jaiz Bank, Lotus Bank, Polaris Bank, Unity Bank, Fidelity Bank, and Union Bank, which completed a merger with Titan Trust Bank to satisfy the requirements.
The CBN governor further disclosed that twenty-seven additional banks remain in the process of raising capital, with the central bank closely monitoring their progress to ensure the financial system strengthening exercise stays on track.
Monetary Policy and Economic Indicators
During the same briefing, Cardoso announced the Monetary Policy Committee's decision to maintain the Monetary Policy Rate at 27 percent, while adjusting the asymmetric corridor to +50 and -450 basis points. The committee also kept other key parameters unchanged, including the Cash Reserve Ratio at 45 percent and liquidity ratio at 30 percent.
The CBN governor justified these decisions by pointing to positive economic trends, including the continuing slowdown in inflation, which dropped to 16.05 percent in October from 18.02 percent in September.
Foreign Exchange and External Reserves Improvement
Nigeria's external reserves have surged to $46.7 billion, representing a significant improvement in the country's financial position. Cardoso also highlighted substantial gains in the foreign exchange market, noting that the spread between official and parallel market rates has narrowed dramatically to just 2 percent, down from approximately 60 percent in previous periods.
The CBN governor celebrated Nigeria's recent removal from the Financial Action Task Force's Grey List, attributing this achievement to strong collaboration among regulatory agencies including the CBN, Nigerian Financial Intelligence Unit, Securities and Exchange Commission, Economic and Financial Crimes Commission, and Ministry of Finance.
This development is expected to enhance foreign investment inflows, improve correspondent banking relationships, and reduce costs for international remittances, providing additional benefits to the Nigerian economy and banking customers.
The successful recapitalisation of these sixteen banks demonstrates the resilience of Nigeria's financial sector amid challenging economic conditions and sets the stage for a stronger, more competitive banking industry capable of supporting the country's ambitious economic growth targets.
