Nigerian banks raised a total of N4.61tn in fresh capital under the Central Bank of Nigeria’s recapitalisation programme, according to a statement released by the apex bank on Tuesday.
The figure was disclosed during the 4th Annual IMF/AFRITAC West 2 High-Level Executive Forum for Financial Sector Regulation and Supervision held at the CBN headquarters in Abuja.
The bank explained that the inflow followed the rollout of the Banking Sector Recapitalisation Programme in 2024, introduced to reinforce the strength of Nigerian banks amid ongoing economic reforms.
It stated, “The Governor outlined how Nigeria’s regulatory and supervisory reforms exemplify proactive leadership. He recalled that in 2024, the CBN anticipated upcoming challenges and launched the Banking Sector Recapitalisation Programme to strengthen the resilience of Nigerian banks.
“This proactive policy, he noted, inspired similar reforms across Africa, adding that Nigerian banks, despite navigating subsidy removals and exchange rate reforms, attracted N4.61tn in new capital, nearly 27 per cent from foreign investors, while even expanding their footprint across African markets.”
The CBN noted that the initiative was aimed at equipping banks to withstand economic shocks and support growth, adding that it is already boosting investor confidence and driving regional expansion.
The statement also stressed the importance of closer collaboration among African financial regulators, noting that rising cross-border financial activities require coordinated supervision to maintain stability.
CBN Governor, Olayemi Cardoso, reiterated the bank’s commitment to enforcing stricter corporate governance standards across the financial system.
“Our stance on corporate governance is unequivocal: zero tolerance for violations. By ending years of regulatory forbearance, we have reinforced accountability, tightened supervision, and elevated compliance standards across the sector,” he said.
He added that the CBN has strengthened credit discipline by limiting banking services for chronic debt defaulters.
“In line with this, we have implemented a restriction of banking services to non-performing large-ticket obligors. This decisive step underscores our commitment to credit discipline, financial integrity, and accountability,” Cardoso said.
The statement added that the apex bank remains focused on orthodox monetary policies aimed at restoring price stability and strengthening policy credibility.
It also highlighted ongoing reforms in the financial technology space, noting that the CBN is working to balance innovation with stability through improved regulatory oversight.
The forum, which brought together central bank officials and regulators from six African countries, focused on addressing emerging risks, including those related to digital finance, artificial intelligence and climate change.
Reports gathered that the N4.61tn figure is about N560bn higher than the N4.05tn earlier verified and announced by the CBN governor in February 2026 ahead of the March 31 recapitalisation deadline.
