The Central Bank of Nigeria (CBN) has reaffirmed that the majority of Nigerian banks are either fully compliant or on course to meet the new capital requirements ahead of the March 31, 2026 deadline.
This confirmation comes as the apex bank announced a set of targeted transitional measures affecting a limited number of financial institutions.
In a circular signed by Hakama Sidi Ali, Acting Director of Corporate Communications, the CBN emphasised that these latest measures are not sector-wide but apply only to a select group of banks currently under enhanced regulatory supervision.
The steps include temporary restrictions on the payment of dividends and executive management bonuses with the goal of preserving internal capital and supporting long-term institutional stability.
“These actions represent the final phase in winding down the post-COVID regulatory forbearance framework,” the CBN stated, adding that the measures are part of a sequenced and structured recapitalisation strategy introduced in 2023.
The regulator clarified that the banking sector remains fundamentally strong and well-capitalised. The new restrictions are described as “routine supervisory actions” aligned with international best practices and not indicative of distress in the system.
The CBN noted that most banks have either met the new capital thresholds or are firmly progressing towards compliance ahead of the set deadline.
The recapitalisation programme is part of a broader strategy to align the financial sector with Nigeria’s long-term economic development objectives and ensure that banks are adequately positioned to support sustainable growth.
To facilitate this transition, the apex bank is offering narrowly defined allowances within its capital framework. These allowances are designed to provide flexibility without compromising prudential standards and are consistent with the global Basel III framework, which Nigeria’s risk-based capital requirements currently exceed.
According to the CBN, affected banks have been officially notified and are under close supervisory monitoring. The regulator also reiterated its commitment to stakeholder engagement and transparency through established platforms such as the Bankers’ Committee and the Body of Bank CEOs.
“The Nigerian banking system remains resilient and stable,” the circular stated. “The measures announced are forward-looking and necessary to future-proof the sector against systemic risks while maintaining strong investor confidence.”
The CBN added that it will continue to update stakeholders as developments unfold and will ensure that implementation of the recapitalisation programme proceeds with minimal disruption to market operations.
