By DAYO ADESULU
Nigerian banks are accelerating efforts to meet the CBN recapitalisation deadline 2026. Discover which banks have already met the new capital thresholds and what’s next for the sector
🏦 Overview: Nigerian Banks Meet New Capital Requirements Ahead of 2026 Deadline
As of June 2025, at least five Nigerian banks have successfully crossed the capital benchmarks set by the Central Bank of Nigeria (CBN). These include Access Bank, Zenith Bank, Ecobank Nigeria, Lotus Bank, and Jaiz Bank. Their timely compliance demonstrates momentum in the country’s financial sector, especially as the CBN recapitalisation deadline 2026 approaches.
In March 2024, the CBN issued a directive mandating minimum capital thresholds. International commercial banks were required to reach ₦500 billion, while national banks were set at ₦200 billion. Banks with regional authorization were asked to achieve a ₦50 billion minimum. For non-interest banks, the limits are ₦20 billion and ₦10 billion for national and regional operations, respectively. The deadline: March 2026.
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🚀 Access Bank Leads the Charge With Record Capital Raise
Access Bank became the first to meet the ₦500 billion capital requirement. Through a strategic ₦351 billion Rights Issue, the bank—via its parent company, Access Holdings—boosted its capital to ₦600 billion. This surpassed the regulatory requirement by ₦100 billion, showcasing its leadership in Nigeria’s banking sector.
💼 Zenith Bank Crosses the Line With ₦614.65 Billion in Share Capital
Shortly after Access, Zenith Bank Plc successfully raised ₦350.4 billion through a combination of a public offer and a rights issue. The result? Its share capital surged to ₦614.65 billion, exceeding the CBN benchmark and strengthening its market dominance.
🌍 Ecobank Nigeria Meets Compliance, Eyes Capital Adequacy Improvement
National lender Ecobank Nigeria reached the capital requirement with only a modest injection. While the bank is still slightly under the total capital adequacy ratio, it has already taken proactive steps. Its parent, Ecobank Transnational Incorporated, secured $125 million in additional funding in May 2025 from its existing $400 million bond issuance.
🕌 Lotus and Jaiz Bank Already Exceed Non-Interest Capital Thresholds
Both Lotus Bank and Jaiz Bank, operating as non-interest financial institutions, have surpassed their CBN-assigned thresholds. Lotus had exceeded ₦20 billion even before the directive, while Jaiz Bank secured ₦10.04 billion through a private placement approved by the CBN, SEC, and the Nigerian Exchange (NGX).
🌐 GTCO Moves Into Global Markets to Finalize Recapitalisation
Guaranty Trust Holding Company (GTCO) recently announced plans to raise $100 million in the international capital market. The offering aims to further recapitalise GTBank Nigeria and push the group toward full compliance. The bank has already raised ₦209 billion and will now list directly on the London Stock Exchange.
📈 First HoldCo Targets ₦748 Billion With New Private Placement
First HoldCo has set a goal to raise ₦350 billion in new capital through private placements. If successful, its banking arm will meet the CBN capital requirement well before Q2 2025.
⚠️ Other Banks Face Tight Timeline Ahead of CBN Recapitalisation Deadline 2026
Banks like Fidelity, FCMB, Stanbic IBTC, and UBA collectively face a ₦733.7 billion gap, according to Afrinvest Research. Wema Bank, however, is on track with a ₦150 billion raise underway.
Meanwhile, Union Bank, Polaris, and Keystone Bank, now under government control, haven’t disclosed any capital-raising strategies.
🤝 Mergers, Acquisitions Likely Among Tier-3 Lenders
Analysts and global rating agencies predict a wave of mergers and acquisitions (M&A) among tier-3 banks. Fitch Ratings noted that while larger banks have made strong progress, smaller banks like Globus, Nova, and Optimus are likely to face license downgrades unless they consolidate or raise capital soon.
🌍 Foreign-Owned Banks Like Citibank & Standard Chartered Hold Strong Position
Due to their international backing, Citibank Nigeria and Standard Chartered Bank are well-positioned to weather the storm. Their parent companies can offer direct capital injections, giving them a strategic edge in the market.
📊 Industry Outlook: Optimism Amid Regulatory Rigor
Despite strict oversight, the outlook for Nigerian banks remains positive. Analysts expect continued growth, driven by balance sheet optimisation and stronger capital buffers. New CBN mandates on forbearance loans and Single Obligor Limits aim to enforce financial discipline and boost transparency.
According to CardinalStone, these policies might reduce near-term dividends but will lead to a more resilient banking system.
🔑 Key Takeaways
| Milestone | Bank(s) | Amount Raised | Capital Surplus |
|---|---|---|---|
| ₦600bn Threshold Met | Access Bank | ₦600bn | +₦100bn |
| Surpassed Minimum | Zenith Bank | ₦614.65bn | +₦114.65bn |
| Compliance Achieved | Ecobank Nigeria | Undisclosed | Yes |
| Surpassed Requirement | Lotus & Jaiz Bank | ₦20bn+, ₦10.04bn | Yes |
| In Progress | GTCO, First HoldCo, Wema | Ongoing | Targeting 2025 |
| At Risk or Undisclosed | Union, Polaris, Keystone | Not yet stated | No movement |
❓ FAQs About the CBN Recapitalisation Deadline 2026
1. What is the CBN recapitalisation deadline 2026?
It’s a directive from the Central Bank of Nigeria requiring banks to raise their capital by March 2026 to strengthen financial stability.
2. Which banks have already met the requirement?
Access Bank, Zenith Bank, Ecobank Nigeria, Lotus Bank, and Jaiz Bank are confirmed to have met or surpassed the new thresholds.
3. How much capital must international banks raise?
They must reach a minimum capital base of ₦500 billion by March 2026.
4. Are mergers expected among Nigerian banks?
Yes. Analysts expect tier-3 banks to pursue mergers or face license downgrades due to low capital positions.
5. Will recapitalisation affect dividends?
Short-term dividend payouts may decline due to CBN’s new loan requirements, but long-term resilience will improve.
6. What about foreign-owned banks?
They are more likely to meet the deadline due to strong parent company backing.
📢 Conclusion
The CBN recapitalisation deadline 2026 has triggered a transformative shift in the Nigerian banking sector. While many banks are racing ahead, others must act fast to avoid falling behind. With market confidence growing and stronger capital buffers in place, Nigeria’s financial landscape looks primed for a more robust, transparent future.
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