By Boluwatife Oshadiya | March 25, 2026
Key Points
- Nigerian banks attract ₦4.61tn in fresh capital under CBN recapitalisation programme
- Nearly 27% of inflows come from foreign investors, signalling renewed external confidence
- CBN tightens governance and credit discipline as reforms reshape banking sector
Main Story
Nigerian banks have attracted a total of ₦4.61tn in new capital following the Central Bank of Nigeria’s (CBN) ongoing recapitalisation programme, underscoring growing investor confidence in the country’s financial system amid sweeping economic reforms.
The disclosure was made in a statement issued by the apex bank on Tuesday during the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and Supervision held at its headquarters in Abuja.
According to the CBN, the capital inflow followed the launch of the Banking Sector Recapitalisation Programme in 2024, a pre-emptive policy designed to strengthen banks’ resilience against macroeconomic shocks, including exchange rate volatility and subsidy removal impacts.
The CBN Governor, Olayemi Cardoso, noted that the initiative had already begun yielding measurable outcomes, with Nigerian banks not only raising significant capital but also expanding their operational footprint across African markets. Nearly 27 per cent of the total capital raised originated from foreign investors, reflecting improved external sentiment toward Nigeria’s banking sector.
The figure represents an increase of approximately ₦560bn compared to the ₦4.05tn earlier verified and approved by the CBN in February 2026, ahead of the March 31 recapitalisation deadline.
Beyond capital inflows, the apex bank highlighted ongoing regulatory reforms aimed at reinforcing financial stability, including stricter corporate governance standards and enhanced supervisory oversight.
What’s Being Said
“This proactive policy inspired similar reforms across Africa, and despite ongoing economic adjustments, Nigerian banks have demonstrated resilience by attracting ₦4.61tn in new capital,” said Olayemi Cardoso, Governor, Central Bank of Nigeria.
“Our stance on corporate governance is unequivocal: zero tolerance for violations. We have reinforced accountability and elevated compliance standards across the sector,” Cardoso added.
“We have implemented restrictions on banking services for non-performing large-ticket obligors, underscoring our commitment to credit discipline and financial integrity,” he said.
An independent financial analyst, Kunle Adeyemi, noted: “The scale of capital inflow suggests that investors are beginning to price in long-term stability, but sustainability will depend on policy consistency and macroeconomic stability.”
What’s Next
- The CBN’s March 31, 2026 recapitalisation deadline is expected to trigger final compliance disclosures from banks
- Regulators across Africa may adopt similar recapitalisation frameworks, following Nigeria’s model
- Further policy measures are anticipated as the CBN balances fintech innovation with financial system stability
The Bottom Line
The Bottom Line: Nigeria’s banking recapitalisation drive is emerging as a critical anchor for financial system stability, restoring investor confidence at a time of economic transition. However, sustaining this momentum will depend on consistent regulatory enforcement and broader macroeconomic stability.
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