Fidelity Bank Meet CBN’s Recapitalisation Targets
Nigeria’s banking recapitalisation exercise recorded a major milestone this week as Fidelity Bank Plc emerged as a newly elevated Tier-1 institution following the successful completion of its capital-raising programme, which raised ₦259 billion through a private placement finalized in December 2025, lifting the bank’s eligible capital to ₦564.5 billion. The development underscores the accelerating pace of compliance across the sector ahead of the March 31, 2026 deadline set by the Central Bank of Nigeria.
Nineteen Nigerian banks have fulfilled the CBN’s recapitalization requirements as of January 2026, with approximately fourteen banks remaining non-compliant. Access Bank, Fidelity Bank, First Bank, GTBank, UBA, and Zenith Bank lead compliance among international license holders, while national and regional licensees including Citibank Nigeria, Ecobank Nigeria, Globus Bank, Stanbic IBTC, Sterling Bank, Wema Bank, PremiumTrust Bank, and Providus Bank have also hit the benchmarks (Global News).
Two non-interest banks, Jaiz and Lotus, alongside merchant banks FSDH, Greenwich, and Nova, round out the compliant group, meeting thresholds of ₦10-₦20 billion for non-interest banks, ₦50 billion for merchants, ₦200 billion for nationals, and ₦500 billion for international banks.
The recapitalisation drive has triggered strategic repositioning across the sector. Industry sources indicate at least seven lenders are considering scaling down their licence categories, with one international bank even considering a temporary step down to a national licence with plans to raise additional capital later to reclaim international status. Nova Bank has already downgraded its licence to a regional banking licence, which carries a lower minimum capital requirement of ₦50 billion.
CBN Governor Yemi Cardoso clarified that banks unable to meet the recapitalisation target may downgrade their banking licences, stressing there is no need for undue panic as the exercise aims to ensure Nigeria maintains strong and resilient banks. The regulator has also approved strategic mergers, with Unity Bank and Providus Bank in final stages of a merger expected to create Nigeria’s ninth largest lender by assets, while Union Bank has completed its integration with Titan Trust Bank
