Nigerian banks raised over ₦1.7 trillion to meet CBN’s capital rule ahead of the 2026 compliance deadline, through rights issues to private placements.
With less than six months to the Central Bank of Nigeria’s (CBN) re-capitalization deadline, 11 commercial banks have successfully met the new minimum capital requirements through a mix of rights issues, private placements, and capital injections.
The re-capitalization drive, announced to strengthen Nigeria’s banking system, has already added about ₦1.72 trillion to the sector’s total share capital. Three banks with international licenses, six with national authorizations, and two non-interest lenders have crossed the finish line, according to industry findings.
Access Bank Plc, a subsidiary of Access Holdings, was the first to meet the new threshold after raising ₦351 billion through a rights issue. Of this, ₦343 billion was injected into the bank, boosting its paid-up capital from ₦251 billion to ₦594.8 billion.
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Zenith Bank Plc completed a combined public offering and rights issue worth ₦350.4 billion. The lender used ₦343.9 billion for or re-capitalization, taking its paid-up share capital to ₦614.6 billion. The offer, conducted between August and September 2024, attracted strong investor participation.
Guaranty Trust Bank adopted a dual strategy, raising ₦209.4 billion through a domestic public offer and an additional $105 million (about ₦156 billion) from an accelerated Bookbuild on the London Stock Exchange — the first by a Nigerian lender. The re-capitalization raised its capital to ₦504 billion.
Stanbic IBTC Bank became the first national lender to meet the target, increasing its share capital from ₦62.5 billion to ₦202.5 billion after a ₦150 billion rights issue. Wema Bank also crossed the line after a ₦150 billion rights issue and ₦50 billion private placement, taking its capital to ₦264.9 billion.
Globus Bank raised ₦155 billion across two private placements, while Premium Trust Bank exceeded its ₦200 billion goal through undisclosed private fundraising.
Citibank Nigeria reached compliance through a capital injection from its parent group, Citigroup, while Ecobank Nigeria already surpassed the threshold with ₦353 billion in paid-up capital.
Jaiz Bank raised ₦10 billion via private placement to lift its capital to ₦28.6 billion, while Lotus Bank, with ₦20.9 billion already in place, met the requirement without additional funding.
Analysts say the successful re-capitalization highlight renewed investor confidence in the banking sector and signal stronger balance sheets ahead of the March 2026 CBN deadline.
