Six Nigerian Banks Cross CBN Recapitalisation Threshold
Six banks have now secured enough capital to meet the Central Bank of Nigeria’s (CBN) recapitalisation rules, months ahead of the March 2026 deadline. Access Bank, Zenith Bank, GTBank, Wema Bank, Stanbic IBTC, and Jaiz Bank have all confirmed compliance through a mix of rights issues, private placements, and retained earnings.
How did they reach the Mark?
Access Bank
Access Holdings completed a ₦351 billion rights issue in December 2024. That raise pushed its share capital and premium to about ₦594.9 billion, making it the first Tier-1 bank to clear the ₦500 billion bar.
Zenith Bank
Zenith relied on its strong balance sheet and retained earnings. By the end of 2024, its audited accounts showed share capital and premium of around ₦614.7 billion, comfortably above the requirement.
GTBank (GTCO)
GTCO secured an additional ₦136 billion through a rights issue in early 2025. The increase lifted its capital base to about ₦504 billion, enough to qualify under the international licence category.
Wema Bank
As a national bank, Wema’s target was lower at ₦200 billion. The bank launched a ₦150 billion rights issue and followed with a ₦50 billion private placement in the first half of 2025. Together, those moves pushed its capital to ₦214.7 billion.
Stanbic IBTC
Stanbic raised ₦148.7 billion through a rights issue in mid-2025. That injection, combined with earlier reserves, carried it over the ₦200 billion minimum for national banks.
Jaiz Bank
Jaiz, Nigeria’s largest non-interest bank, needed to reach ₦20 billion. By mid-2025, its share capital and premium stood at about ₦28.7 billion, supported by steady growth in Islamic banking products and a modest rights issue.
The essence of the Recapitalisation drive
The recapitalisation drive is designed to build stronger banks. Higher capital buffers give lenders more room to absorb shocks, expand credit to businesses, and maintain confidence in a volatile economy.
Other Banks
First Bank, UBA, and Fidelity are on course to meet ₦500 billion international threshold. Each has launched or announced rights issues and private placements. With the deadline just over six months away, their fundraising plans will be under close watch.
