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2026 deadline: 8 banks have met new CBN recapitalisation – Cardoso

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 2026 deadline 8 banks have met new CBN recapitalisation Cardoso
Adeyemi Cardoso

The Governor of the Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has announced that eight commercial banks have successfully met the recapitalisation requirements set by the apex bank, with several others progressing steadily toward the target.

The CBN had earlier issued a 24-month recapitalisation timeline, effective from April 1, 2024, to March 31, 2026. Under the directive, banks with international licences are required to maintain a minimum paid-up capital of ₦500 billion, national banks are expected to meet a ₦200 billion threshold, while regional banks must maintain at least ₦50 billion.

Cardoso made the disclosure in Abuja while briefing the press on the outcome of the 301st meeting of the Monetary Policy Committee (MPC) of the apex bank.

He, however, did not disclose the identities of the banks that have crossed the hurdle as at the time of filing this report.

More details to follow…



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