The Central Bank of Nigeria (CBN) has announced that eight commercial banks have met the new recapitalisation threshold, with one securing substantial funding from the London Stock Exchange (LSE), signalling international confidence in Nigeria’s banking sector.
This development was disclosed by CBN Governor, Olayemi Cardoso, after the 301st Monetary Policy Committee (MPC) meeting held in Abuja on Tuesday. The MPC opted to maintain all key monetary policy parameters, citing persistent inflationary pressures and the need to sustain economic stability.
In a significant policy decision, the committee retained the Monetary Policy Rate (MPR) at 27.5%, left the Cash Reserve Ratio (CRR) unchanged at 50% for deposit money banks and 16% for merchant banks, and maintained the liquidity ratio at 30%. The asymmetric corridor around the MPR also remained at +500/-100 basis points.
“The committee decided to maintain the current monetary policy stance and hold all policy parameters,” Cardoso stated. “This decision is aimed at sustaining the momentum of disinflation and adequately addressing existing and emerging price pressures.”
Cardoso reaffirmed the apex bank’s unwavering commitment to its core mandate of price stability, noting that the MPC would continue to undertake rigorous assessments of the economic landscape and inflationary trends to guide future decisions.
Highlighting progress in the banking sector, the CBN Governor revealed that eight banks had already surpassed the revised capital base requirements set by the apex bank as part of ongoing reforms to strengthen the financial system.
“Eight banks have surpassed the new minimum capital requirement,” he said. “In fact, one of them has raised a significant amount of funds on the London Stock Exchange. This reflects growing confidence from the international investor community in our financial institutions.”
Cardoso emphasised that the CBN will continue its strong regulatory oversight to ensure the resilience, soundness, and integrity of the banking system.
“We must maintain the discipline, buffers, and resilience we’ve built into the financial system. Regardless of the challenges faced in recent years, Nigeria is increasingly seen as investment-ready,” he added.
The MPC acknowledged the third consecutive decline in headline inflation, which eased slightly above 22% in June 2025. The committee attributed this trend to a combination of stabilising energy prices and a more stable foreign exchange environment. However, Cardoso noted that month-on-month inflation still indicated persistent underlying price pressures, prompting the MPC to adopt a cautious stance.
“Despite the recent disinflation trend, members noted the uptick in monthly headline inflation, which suggests that price pressures remain. It is therefore prudent to maintain the current monetary policy stance,” he warned.
In its post-meeting communiqué, the MPC urged the Federal Government to intensify support for the agriculture sector by ensuring timely access to high-yielding seedlings, fertilisers, and other essential inputs during the current farming season. The committee stressed that improved agricultural productivity remains critical to achieving food security and mitigating inflation.
The MPC also acknowledged the continued stability in the foreign exchange market, underpinned by increased crude oil production, rising non-oil exports, improved capital inflows, and a notable reduction in aggregate imports.
As Nigeria navigates a complex economic terrain marked by global uncertainties and domestic challenges, the CBN affirmed its readiness to respond swiftly and decisively to safeguard macroeconomic stability.
“We remain focused on strengthening the economy, restoring investor confidence, and ensuring that our financial institutions remain robust and resilient,” Cardoso concluded.
The MPC will reconvene in the coming months to review progress and recalibrate policy directions in line with evolving economic realities.
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