33 banks raise ₦3.37 trillion from Nigerians as CBN ends recapitalisation
Nigeria’s banking sector has wrapped up one of its biggest capital-raising exercises in recent history, with lenders pulling in a combined ₦4.65 trillion to meet new regulatory thresholds set by the Central Bank of Nigeria. The capital raise drew heavily from local investors, who accounted for 72.55% (₦3.37 trillion) of the total, while foreign investors contributed 27.45% (₦1.28 trillion), a split the CBN says signals sustained confidence in Nigeria’s banking system despite macroeconomic headwinds. In a press statement on Wednesday, the regulator said the over 24-month recapitalisation programme, which began in March 2024, has now been concluded, strengthening banks’ balance sheets and positioning the sector to better absorb shocks and fund economic growth. “The recapitalisation programme has strengthened the capital base of Nigerian banks,” said CBN governor, Olayemi Cardoso. “Reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks.” The recapitalisation exercise, first announced in 2024, was meant to strengthen banks’ balance sheets amid rising inflation, currency volatility, and growing credit risks, while positioning lenders to finance Nigeria’s long-term ambition of becoming a $1 trillion economy. Under the new regime, banks must meet minimum paid-up capital based on their operating licences: international banks to ₦500 billion ($370.58 million), national banks to ₦200 billion ($148.23 million), regional banks to ₦50 billion ($37.06 million), merchant banks to ₦50 billion ($37.06 million), non-interest banks with national authorisation to ₦20 billion ($14.82 million), and non-interest banks with regional authorisation to ₦10 billion ($7.41 million). Most banks clear the bar According to the CBN, 33 banks have met the revised minimum capital requirements. A handful of institutions remain entangled in regulatory and judicial processes, which are being addressed through established supervisory and legal frameworks. The regulator stressed that all banks are still fully operational. With the recapitalisation phase now closed, the CBN is shifting focus to supervision. Banks are now required to run regular stress tests and maintain capital buffers under a strengthened risk-based framework. The regulator also signalled that prudential guidelines and supervisory rules will be reviewed periodically to keep pace with evolving risks. The CBN noted that banking services remained uninterrupted throughout the capital raise, preserving access for individuals and businesses, a critical factor in a period of economic adjustment. According to the apex bank, the successful completion of the programme establishes a stronger and more resilient banking system, better positioned to support lending, mobilise savings, and withstand domestic and global shocks.
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How we’re thinking about 2026 and beyond. Here’s the thing about two speeds. Over the last few years, the African tech ecosystem has been moving at a pace that feels almost contradictory: consolidation at the centre and new ideas flickering relentlessly at the edges. Capital tightened, regulation grew heavier. Scale began pooling around fewer, stronger players. Meanwhile, out past the headlines, new ideas continued to form — quieter now, less theatrical, yet persistent. If you’re only watching one speed, you’re half-blind. Technology stopped being a standalone sector. These shifts are showing up everywhere — in how people work, move money, access services, and navigate daily life, often far from anything labelled ‘tech’. In moments like this, the signals that matter most are easy to miss if you’re only watching the surface. TechCabal has lived through multiple cycles of this ecosystem, which is why we recognise this moment for what it is. And it’s why Q1 looked the way it did. We launched Headlines By TC A weekly newsroom conversation that interrogates the most important technology headlines and explains what they actually mean for people living and working in Africa. The tone is casual; the journalism is rigorous. It’s not a recap show. It surfaces the non-obvious insight and resolves confusion. We also shipped TC Predictions 2026 An annual outlook collecting evidence-based predictions from industry leaders across African tech. Not gut feelings. Theses grounded in data, explicit in their claims, and specific enough to be evaluated at year-end. Both are early signals of what we’re building toward. That direction has a name now: Four-Point-Oh. Shaped by experience. Guided by judgment. Focused — more deliberately than ever — on helping you see beyond what’s trending to what’s happening, and what it means. In practice, this means investing in our newsmaking system: our ability to tell you what happened, fast, when it matters. A fintech acquires a competitor, a policy drops, a platform goes dark, a founder raises a round — we want to get it to you first. Speed still counts, but with context. The analysis, the features, the profiles, the deep dives—they follow, building on the headline to show you what it actually means and where it leads. We’ve organised our coverage around four verticals, each designed to track specific forces shaping the ecosystem: Startups tracks who’s building and what new technologies emerge before they’re obvious; Money follows how capital moves; Enterprise & Policy covers what regulators and platforms decide; and Life & Work captures how all of it shows up in everyday life. Over the next few weeks, you’ll see this reflected more visibly on the site and across our platforms. Four-Point-Oh What’s Happening. What It Means. + Startups Who’s Building, How, Why? + Money Capital, Funding, Returns + Enterprise & Policy Regulation, Infrastructure + Life & Work People, Platforms, Access Founders, Products AI, Hardware, Crypto New Frontiers Growth Signals Venture Rounds Revenue Models Transaction Economics Who Profits, How Telcos, Government Platform Decisions Regulatory Shifts Ecosystem Ripple Effects Work Culture Service Access Digital Daily Life Human Stories Signals Over Surface. · Context Over Speed. All of Four-Point-Oh will be anchored by a registration layer — signing up to get unlimited access to all of TechCabal’s reporting, for FREE. Beyond access, it marks the beginning of a deeper relationship: early access to events, from mixers and roundtables to Moonshot in October. The ability to contribute your perspective to our reporting — through tips, feedback, and direct input into the stories we tell. And where relevant, your work could get featured for what you’re building inside the ecosystem. It’s started out as a busy year, and it’ll only get busier. But here’s the commitment: we’ll be paying attention, asking the questions as the answers become less obvious.
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