See the six banks on course to meet CBN's recapitalisation deadline

• Six Nigerian banks are connected people to conscionable and adjacent transcend the CBN’s N500 cardinal recapitalisation request deadline
• The banks are Zenith Bank, Access Bank, UBA, Guaranty Trust Bank, First Bank, and FCMB Group
• In total, these fiscal institutions person raised astir N2.4 trillion to conscionable and transcend the CBN’s March 31, 2026, deadline

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

Six starring Nigerian banks person been projected to transcend the Central Bank of Nigeria’s (CBN) N500 cardinal superior requirement.

The banks, which see Zenith Bank, Access Bank, UBA, Guarantee Trust Bank, First Bank, and FCMB, person each raised adjacent to N2.4 trillion up of the deadline.

The Cardoso-led Central Bank of Nigeria (CBN) demands that banks conscionable a recapitalisation people of N500bn. Credit: NurPhoto/Contributor
Source: UGC

Six banks perpetrate to gathering CBN’s deadline

These fiscal powerhouses person either concluded oregon are adjacent to concluding capital-raising projects via a premix of strategies, including nationalist offers and backstage placements.

The lenders person disclosed via abstracted statements that they are connected the verge of competing superior rise programmes by the 2nd fractional of this year.

The banks were trying to douse investors’ fears regarding CBN’s dividend ban, releasing circumstantial timelines to exit the apex bank’s dividend freeze.

A erstwhile study by Legit.ng detailed the 10 Nigerian banks astir apt to bushed the N500 cardinal superior request hurdle.

In March past year, CBN announced a recapitalisation policy, which required commercialized banks with planetary support to support a minimum superior basal of N500 billion.

The argumentation aims to boost Nigeria’s fiscal system, placing it connected a beardown footing to support  Nigeria’s $1 trillion economical ambition acceptable by President Bola Tinubu’s authorities and heighten banks’ capableness to concern captious economical sectors.

Two banks bushed CBN’s hurdle

Two banks, Zenith and Access Bank, person successfully surpassed the recapitalisation hurdle.

United Bank for Africa (UBA) and Guaranty Trust Bank person besides disclosed plans to rise the required N500 cardinal and N600 billion, respectively, done enslaved issues.

Findings amusement that some banks person raised N355.2 cardinal and N209.41 cardinal successful the archetypal phase.

Female Bank CEOs are starring their institutions to conscionable the CBN's target. Credit: Novatis
Source: Facebook

Three banks rise to conscionable the deadline

First Bank has reportedly raised astir N187.6 cardinal and is expected to deed the N500 cardinal marketplace by the extremity of July.

Fidelity Bank said it has raised N373 cardinal successful a caller nationalist offering and rights issue, which were oversubscribed by 237.92% and 137.73%.

The slope said it besides intends to rise an further N200 cardinal via a backstage placement by the extremity of 2025 to deed CBN’s target, The Sun reported.

Checks uncover that some banks had raised astir N355.2 cardinal and N209.41 cardinal successful the archetypal tranche.

Also, FCMB Group has disclosed that it has raised N147.75 cardinal and volition scope astir N267 cardinal by July. 

In total, the six lenders person some polled N2.4 trillion, a monolithic milestone successful their quest to bushed CBN’s deadline.

Analysts accidental the determination positions the banks up of the deadline and shows stronger capitalist assurance and industry fluidity.

Recapitalisation could deepen fiscal inclusion – Expert

A integer concern adept has said the Central Bank of Nigeria’s (CBN) caller ₦500 cardinal superior request for banks is not conscionable a regulatory displacement but a accidental to grow entree to fiscal services crossed Nigeria.

Speaking with Legit.ng, the embedded banking specialist, Noah Honawon described the CBN directive arsenic some “a large shift” and “a large opportunity.”

“With much wealth available, banks present person the accidental to earnestly amended their integer systems and scope much people, particularly successful agrarian oregon underserved areas,” helium said.

He explained that banks could put successful mobile apps, cause networks, and services that relation without net entree to marque savings, loans, and payments much accessible.

“Banks tin usage this superior to physique amended mobile apps, grow cause networks, and make services that enactment adjacent without the internet, helping radical successful distant areas save, borrow, and nonstop wealth much easily.”

Honawon besides noted the imaginable for strategical partnerships betwixt banks and platforms successful agriculture, tiny business, and transportation:

“With stronger integer tools, banks tin present enactment with platforms radical already use, similar those successful farming, tiny business, oregon transport, to connection loans, savings, and outgo options straight wherever radical enactment and live.”

He added that portion of the funds should besides spell into strengthening integer information to boost spot successful the banking system.

As helium enactment it:

“Part of the superior tin spell into making banking safer, utilizing smarter systems to observe fraud and support people’s wealth and information secure.”

Honawon noted that if banks put wisely, the recapitalisation thrust could person semipermanent benefits for fiscal inclusion and economical participation.

Access Bank takes implicit Standard Chartered Bank

Legit.ng antecedently reported that Nigeria’s banking giant, Access Bank, had completed the takeover of Standard Chartered Bank successful The Gambia.

The takeover connected June 13, 2025, would spot Standard Chartered Bank cease to run successful The Gambia aft 130 years of operations.

The politician of the Central Bank of The Gambia, Buah Saidy, disclosed this precocious during a property league astatine The Gambia’s apex bank’s office successful Banjul.

Editorial adjunct Ololade Olatimehin provided exclusive commentary from a integer concern adept for this report.

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Proofreading by Kola Muhammed, transcript exertion astatine Legit.ng.

Source: Legit.ng