CBN Steps Up Oversight as Banks Race to Meet Recapitalisation Deadline
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a strong and stable financial system, announcing that it is closely monitoring banks yet to meet the ongoing recapitalisation requirements.
Speaking during the “CBN Special Day” at the 20th Abuja International Trade Fair, the Acting Director of Corporate Communications, Hakama Sidi Ali, revealed that 14 Nigerian banks have already met the new minimum capital base as set by the apex bank.
According to her, the recapitalisation exercise — a major reform under the leadership of Governor Olayemi Cardoso — is part of broader efforts to strengthen financial system resilience, deepen productivity, and shield the economy from external shocks.
Building a More Resilient Banking Sector
Sidi Ali explained that despite global and local macroeconomic pressures, the CBN has sustained a robust and sound banking system, with most financial indicators remaining within safe limits.
“The CBN continues to address pockets of macroeconomic challenges confronting the Nigerian economy, ensuring that the banking system remains resilient,” she stated.
She added that the recapitalisation drive would position banks to better support Nigeria’s long-term growth agenda and withstand potential economic headwinds.
Innovation and Financial Inclusion
Highlighting the apex bank’s forward-looking agenda, Sidi Ali spotlighted the Payment Systems Vision 2028, a strategic initiative aimed at future-proofing Nigeria’s payments ecosystem.
This plan targets broader financial inclusion — especially in rural areas — and promotes faster, safer, and more secure transactions through technology-driven innovation.
Rising External Reserves, Strengthened Stability
In a reassuring update, she disclosed that Nigeria’s external reserves rose to $43.05 billion as of September 11, 2025, up from $40.51 billion in July 2025.
According to her, this improvement reflects progress in stabilising the foreign exchange market and restoring investor confidence through coordinated monetary and fiscal efforts.
“Achieving economic sustainability rests on three pillars — a strong financial system, a stable FX market that supports planning, and effective collaboration between monetary and fiscal authorities,” she added.
Clean Notes, National Pride
Beyond policy reforms, the CBN renewed its call for respect toward the Naira, urging Nigerians to treat the national currency with dignity.
“Our Naira is a symbol of national identity. Respect it and keep it clean. Do not spray, hawk, mutilate, or counterfeit the Naira,” Sidi Ali said.
Private Sector Applause
The Director General of the Abuja Chamber of Commerce and Industry (ACCI), Mr. Agabaidu Jideani, commended the CBN’s proactive role in stabilising the economy and supporting business growth.
He praised initiatives such as Open Banking, contactless payments, and the regulatory sandbox for fintech innovation, which he said have enhanced access to finance and improved transparency in the financial system.
“For the business community, the CBN is not just a regulator — it’s a vital enabler of growth,” Jideani noted.
“Through credit facilities, forex management, and intervention funds, the Bank has created pathways for MSMEs and entrepreneurs to thrive.”
Why This Matters
The recapitalisation process marks a turning point in Nigeria’s banking history — a step toward building banks that are not only profitable, but also resilient and globally competitive.
For investors and stakeholders, this signals a more stable financial landscape and renewed confidence in the country’s economic direction.
Powered by InvestingPort — Your Window Into Africa’s Financial Markets.
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to maintaining a strong and stable financial system, announcing that it is closely monitoring banks yet to meet the ongoing recapitalisation requirements.
Speaking during the “CBN Special Day” at the 20th Abuja International Trade Fair, the Acting Director of Corporate Communications, Hakama Sidi Ali, revealed that 14 Nigerian banks have already met the new minimum capital base as set by the apex bank.
According to her, the recapitalisation exercise — a major reform under the leadership of Governor Olayemi Cardoso — is part of broader efforts to strengthen financial system resilience, deepen productivity, and shield the economy from external shocks.
Building a More Resilient Banking Sector
Sidi Ali explained that despite global and local macroeconomic pressures, the CBN has sustained a robust and sound banking system, with most financial indicators remaining within safe limits.
“The CBN continues to address pockets of macroeconomic challenges confronting the Nigerian economy, ensuring that the banking system remains resilient,” she stated.
She added that the recapitalisation drive would position banks to better support Nigeria’s long-term growth agenda and withstand potential economic headwinds.
Innovation and Financial Inclusion
Highlighting the apex bank’s forward-looking agenda, Sidi Ali spotlighted the Payment Systems Vision 2028, a strategic initiative aimed at future-proofing Nigeria’s payments ecosystem.
This plan targets broader financial inclusion — especially in rural areas — and promotes faster, safer, and more secure transactions through technology-driven innovation.
Rising External Reserves, Strengthened Stability
In a reassuring update, she disclosed that Nigeria’s external reserves rose to $43.05 billion as of September 11, 2025, up from $40.51 billion in July 2025.
According to her, this improvement reflects progress in stabilising the foreign exchange market and restoring investor confidence through coordinated monetary and fiscal efforts.
“Achieving economic sustainability rests on three pillars — a strong financial system, a stable FX market that supports planning, and effective collaboration between monetary and fiscal authorities,” she added.
Clean Notes, National Pride
Beyond policy reforms, the CBN renewed its call for respect toward the Naira, urging Nigerians to treat the national currency with dignity.
“Our Naira is a symbol of national identity. Respect it and keep it clean. Do not spray, hawk, mutilate, or counterfeit the Naira,” Sidi Ali said.
Private Sector Applause
The Director General of the Abuja Chamber of Commerce and Industry (ACCI), Mr. Agabaidu Jideani, commended the CBN’s proactive role in stabilising the economy and supporting business growth.
He praised initiatives such as Open Banking, contactless payments, and the regulatory sandbox for fintech innovation, which he said have enhanced access to finance and improved transparency in the financial system.
“For the business community, the CBN is not just a regulator — it’s a vital enabler of growth,” Jideani noted.
“Through credit facilities, forex management, and intervention funds, the Bank has created pathways for MSMEs and entrepreneurs to thrive.”
Why This Matters
The recapitalisation process marks a turning point in Nigeria’s banking history — a step toward building banks that are not only profitable, but also resilient and globally competitive.
For investors and stakeholders, this signals a more stable financial landscape and renewed confidence in the country’s economic direction.
Powered by InvestingPort — Your Window Into Africa’s Financial Markets.