See the list of 10 Nigerian banks to meet CBN N500bn capital requirement

• About 10 Nigerian banks person been projected to meet, and adjacent exceed, the CBN’s N500 cardinal minimum superior requirement
• Analysts accidental these banks' posturing has shown that they are connected way to conscionable the March 31, 2026, deadline 
• Meanwhile, 2 Nigerian lenders, Zenith Bank and Access Bank, person already crossed that hurdle, and galore much volition follow

Legit.ng’s Pascal Oparada has reported connected tech, energy, stocks, concern and the economy for implicit a decade.

The Nigerian banking strategy is undergoing a important translation driven by the Central Bank of Nigeria's (CBN) caller minimum superior requirements. 

This recapitalisation exercise, acceptable to reason by March 31, 2026, aims to fortify the fiscal sector, heighten its resilience to economical shocks, and amended presumption it to enactment Nigeria's economical maturation ambitions, including a projected $1 trillion GDP by 2026.

Access Bank's CEO, Aigboje Imokhuede, Fidelity Bank CEO, Onyeali-Ikpe, and GTCo boss, Segun Agbaje, pb Nigeria's apical banks. Credit: PIUS EKPEI-UTOMI/Stringer
Source: Getty Images

Tier-1 banks connected people to conscionable deadline

However, analysts person projected that the Tier-1 Banks, which predominate the Nigerian banking landscape, volition apt standard the hurdle.

Ishaya Ibrahim and Osas Igho, fiscal analysts, disclosed that astir 10 Nigerian banking brands volition astir apt standard the recapitalisation hurdle.

These lenders mostly person stronger franchise values, larger marketplace shares, and a past of accordant dividend payouts, making them much charismatic for superior raising.

Tier-1 banks employment caller methods 

According to them, the persistent naira devaluation has enactment the banks nether pressure, arsenic their dollar-based superior ratios person reduced significantly. The recapitalisation is partially a effect to this.

“The CBN's caller directive specifies that the minimum superior indispensable dwell solely of paid-up superior and stock premium, excluding different components of shareholders' funds similar retained net and further Tier 1 instruments. This stringent explanation necessitates caller equity injections,” Ibrahim said.

Meanwhile, the banks are employing respective methods to conscionable the recapitalisation requirements.

The methods see equity injections, Mergers and Acquisitions (M&As), and licence downgrades.

Challenges facing the banks

While Tier-1 banks are mostly expected to succeed, attracting capable concern for each banks, particularly successful a play of economical uncertainty and a caller CBN dividend ban, could beryllium challenging. 

The dividend ban, though impermanent and aimed astatine expanding superior buffers, has rattled slope stocks and could marque superior raising astatine charismatic valuations much hard for some.

The superior marketplace whitethorn acquisition accrued activity, but besides imaginable dilution and downward unit connected stock prices owed to the important measurement of caller shares being issued, Igho stated.

The monolithic superior injection crossed the banking assemblage could pb to a short-term liquidity crunch successful the wider economy.

There's a hazard that accrued superior could pb to much loans concentrated among a fewer ample corporations, with constricted trickle-down effects.

10 banks apt to conscionable CBN's N500bn target

Based connected existent reports and manufacture analysis, the pursuing banks are astir apt to conscionable the N500 cardinal minimum superior request for planetary licenses by the March 2026 deadline:

Zenith Bank Plc

The slope has already been reported to person surpassed the N500 billion threshold with a stock superior and stock premium of N614.65 billion.

Access Holdings Plc (Access Bank) 

Has besides been reported to person surpassed the N500 cardinal threshold with a stock superior and stock premium of N594.90 billion.

United Bank for Africa (UBA)

UBA has a stated committedness to gathering the N500 cardinal people by Q3 2025, having already raised a important information and with plans for further superior raises.

Guaranty Trust Holding Company Plc (GTCO): 

The slope is taking a phased attack and has shareholder support to rise much superior to conscionable the N500 cardinal mark.

FBN Holdings Plc (First Bank of Nigeria)

The slope is taking a phased attack and has shareholder support to rise much superior to conscionable the N500 cardinal mark.

Ecobank Transnational Incorporated (ETI) 

Although presently trailing immoderate of its peers successful presumption of paid-up superior and stock premium for Nigeria-specific operations, ETI’s ample plus basal and Pan-African beingness springiness it beardown capableness to conscionable the requirement, with Fitch noting it needed lone "small superior injections" successful its Nigerian entity.

Stanbic IBTC Holdings Plc: 

As a salient nationalist subordinate with beardown fiscal health, it is expected to conscionable its nationalist licence request and perchance see an upgrade if strategic. 

While its superior absorption is presently connected the N200bn for a nationalist license, its robust operation suggests the capableness to standard up if it chooses an planetary license.

Fidelity Bank Plc: Has completed archetypal superior raisings and is projected to instrumentality to Tier 1 classification, indicating beardown efforts towards gathering the requirement, though it volition request to rise importantly more.

10 Nigerian banks brace for CBN's superior raising up of deadline. Credit: Novatis
Source: Getty Images

FCMB Group Plc

Like Fidelity Bank, FCMB has completed archetypal superior raisings and volition request to rise much to support its planetary license. Its proactive steps suggest it is committed to gathering the target.

Wema Bank Plc: 

Wema Bank has shareholder support to rise capable superior to clasp its nationalist license.

While its archetypal people mightiness beryllium N200 cardinal for a nationalist license, it's proactive attack and maturation trajectory presumption it good to perchance prosecute an planetary licence if its capital-raising efforts transcend expectations oregon if it opts for a strategical acquisition.

“It's important to enactment that the database mightiness beryllium influenced by factors specified arsenic the occurrence of ongoing superior raising efforts, imaginable mergers and acquisitions, and immoderate further regulatory adjustments, Igho said.

4 Nigerian banks marque the database of Africa’s astir capitalised banks

Legit.ng earlier reported that a new ranking of Africa’s starring tier-1 superior for past twelvemonth has shown a wide hierarchy, with South African, Egyptian, and Moroccan lenders starring the pack, portion Nigeria trails behind.

A caller study by Proshare disclosed that the Standard Bank Group led the complaint with the astir tier-1 superior of $13 billion, followed by National Bank of Egypt, with $7 billion, and Attijariwafa Bank of Morocco with $6 cardinal successful the reappraisal period.

However, 4 Nigerian lenders, First Bank, Access Bank, Zenith Bank, and United Bank for Africa (UBA), made the list, each having tier-1 superior of $2 billion.

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Source: Legit.ng