20 of Nigeria's 33 banks meet recapitalisation target, Cardoso Says

Olayemi Cardoso, governor of the Central Bank of Nigeria (CBN), said on Tuesday that 20 out of the 33 deposit money banks that have raised fresh capital have now met the new recapitalisation requirements.

He disclosed this at the end of the 304th Monetary Policy Committee (MPC) meeting held in Abuja, noting that the development signals progress toward a stronger and better-capitalised banking system.

According to him, the MPC acknowledged the importance of the ongoing recapitalisation exercise and urged lenders yet to meet the threshold to intensify efforts to ensure timely compliance. He added that a successful capital raise across the industry would reinforce financial stability and strengthen the resilience of Nigeria’s banking sector.

TAGGED:bank recapitalisation BDrecent

Share This Article

ByHope Moses-Ashike

Follow:

Hope Moses-Ashike is an Associate Editor, Banking and Finance, with more than a decade of experience reporting on Nigeria’s financial system and broader economy. She closely tracks market movements, monetary policy decisions, company disclosures, regulatory actions, economic indicators, and global developments, and interprets what they mean for businesses, investors, policymakers, and households. Her reporting helps readers understand complex issues such as inflation trends, foreign exchange market dynamics, interest rate decisions, bank performance, and investment risks. She also covers major international events and periodically travels to Washington, D.C., to report on the World Bank/IMF Spring and Annual Meetings. Her dedication to financial journalism has earned her multiple recognitions and invitations to high-level professional development programmes. She is an alumna of the International Visitors Leadership Programme (IVLP) in the United States and holds an Advanced Financial Journalism Certificate from the Press Association Training in London, UK. Her other notable achievements include completing the Lagos Business School CMC Programme, the Bloomberg Media Africa Initiative Programme, and a Master Class in Journalism at Rhodes University in South Africa.