The Central Bank of Nigeria has established a minimum capital requirement of N500 billion for commercial banks with a two-year window for banks to meet this requirement by March 2026.
According to a circular dated March 28, 2024, the move aims to enhance the resilience, solvency, and capacity of Nigerian banks to support economic growth amidst prevailing macroeconomic challenges and headwinds occasioned by external and domestic shocks.
For commercial banks, the minimum capital requirement for those with international authorization has been set at ₦500 billion, while nationally authorized commercial banks must maintain a minimum capital of ₦200 billion. Regional commercial banks are now required to have a minimum capital of ₦50 billion.
In the merchant banking sector, both national and regional players must maintain a minimum capital of ₦50 billion and ₦10 billion, respectively.
Non-interest banks, which operate based on Islamic banking principles, have also seen an upward revision in their minimum capital requirements. Nationally authorized non-interest banks must have a minimum capital of ₦20 billion, while regional non-interest banks are required to maintain a minimum capital of ₦10 billion.
The last major recapitalisation exercise took place in 2004.
