Nigeria: CBN Governor Cardoso Confirms 14 Banks Have Met New Capital Requirement

The Central Bank of Nigeria (CBN) has announced that 14 Nigerian banks have successfully complied with the new capital requirements under its ongoing recapitalisation programme.

Governor Olayemi Cardoso disclosed this in Abuja on Tuesday while presenting the communiqué from the 302nd Monetary Policy Committee (MPC) meeting. He explained that the revised capital thresholds are designed to strengthen financial system resilience and support sustainable economic growth.

Under the new framework, banks with international licences must raise their capital base to ₦500 billion, those with national authorisation to ₦200 billion, and regionally authorised banks to ₦50 billion. For merchant banks, the requirement is ₦50 billion, while non-interest banks must meet ₦20 billion (national) and ₦10 billion (regional).

Cardoso confirmed that 14 institutions have already met these benchmarks, a development welcomed by the MPC. “Members urged the Bank to sustain policy implementation to ensure the successful completion of the recapitalisation exercise,” he stated.

The governor also highlighted the termination of forbearance measures and waivers on single obligors, noting that this step is reinforcing transparency, risk management, and long-term stability across the banking sector. He reassured stakeholders that the withdrawal of forbearance is temporary and does not pose risks to financial system soundness.

On monetary policy adjustments, the MPC reduced the Monetary Policy Rate (MPR) by 50 basis points to 27.00%, reflecting five consecutive months of disinflation and expectations of further inflation decline. Other measures included:

• Adjusting the Standing Facilities corridor to +250/-250 basis points,

• Revising the Cash Reserve Ratio (CRR) for commercial banks to 45% (from 50%),

• Retaining CRR for merchant banks at 16%,

• Maintaining the Liquidity Ratio at 30%,

• Introducing a 75% CRR on non-TSA public sector deposits to strengthen liquidity management.

According to Cardoso, these moves are aimed at consolidating disinflation gains, safeguarding macroeconomic stability, and creating the conditions for stronger economic recovery.