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Nigerian Banks Yet To Meet CBN’s Recapitalisation Requirement
No fewer than 14 Nigerian commercial banks are yet to meet the Central Bank of Nigeria’s recapitalisation requirement as the 31st March 2026 deadline inches closer.
This follows CBN Governor, Olayemi Cardoso’s announcement on Tuesday that sixteen Nigerian banks have met their recapitalisation requirement ahead of the apex bank’s March 2026 deadline.
DAILY POST reports that Cardoso disclosed this in a statement after the bank’s 303rd Monetary Policy Committee in Abuja.
According to Cardoso, the development indicates that there is financial soundness in the country’s financial banking system.
MPC had been urged by banks to ensure a successful implementation of the recapitalisation process.
“The committee noted with satisfaction the sustained resilience of the banking system, with most financial soundness indicators remaining within regulatory thresholds,” Cardoso said.
“Acknowledged the substantial progress in the ongoing recapitalisation programme, with 16 banks achieving full compliance with the revised capital requirements.
“The committee thus urged the Bank to ensure a successful implementation and conclusion of the programme, among other domestic developments,” Cardoso said.
This means that two additional Nigerian banks have been added to the list of banks which have complied with the apex bank recapitalisation requirement in the last two months.
Recall that Cardoso, in the 302nd MPC meeting, announced that only fourteen banks have met the recapitalisation requirement.
CBN records as of 2024 showed that the country has thirteen commercial banks, five merchant banks and seven financial holdings companies.
Earlier, a report emerged that Access Bank, Zenith Bank, GTBank, Wema Bank, Jaiz Bank, Stanbic IBTC, and others have already met CBN’s recapitalisation requirement.
CBN in March directed commercial banks with international authorisation to increase their capital base to N500 billion, while those with national licences must raise to N200 billion.
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Breaking: Nigerian Workers Demand N300,000 Minimum Wage, FG Faces Fresh Salary Pressure
The Federal Workers Forum, FWF, has demanded an immediate increase in the federal minimum wage from N70,000 to N300,000, noting that the current salary structure can no longer sustain civil servants amid Nigeria’s rising cost of living.
The Forum made the demand in a letter dated September 2, 2026, addressed to President Bola Ahmed Tinubu and the National Assembly, with the Senate President, Speaker of the House of Representatives, Chief Justice of Nigeria and Head of the Civil Service of the Federation listed among the recipients.
The workers also proposed a new salary structure that would place the highest-paid Level 17 officer on a monthly salary of N1.5 million, while Level 1 Step 1 workers would earn N300,000.
“We call for justice and immediate wage review now, adjust the federal minimum wage to N300,000 and a maximum wage of N1.5m for the Level 17 officers,” the Forum said.
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The FWF argued that the Federal Government had not fully implemented the 2024 minimum wage agreement, claiming that federal workers had yet to receive the full consequential adjustment and associated allowances.
“It will surprise you to hear that the Federal Government has not fully implemented the new national minimum wage since July 2024. We have been in the battle for full consequential adjustment of the new minimum wage,” it said.
Recall that the Nigeria Labour Congress, NLC, in August 2026, demanded an upward review of the minimum wage to N500,000.
In July 2024, President Bola Tinubu’s government increased the minimum wage to N70,000 per month from N30,000.
However, the cost of living for many Nigerians has tripled between 2024 and 2026.
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BREAKING NEWS: ‘No Support For Military Coup in Niger’ – FG
The Federal Government has said Nigeria will never support a military coup or any unconstitutional change of government, following claims that the country backed a failed coup attempt in the Niger Republic.
The Minister of State for Foreign Affairs, Sola Enikanolaiye, made this known in a statement issued on Thursday.
According to the statement, the claims circulating on social media are baseless and misleading.
Enikanolaiye said Nigeria remained committed to democracy, constitutional rule and political stability in West Africa and would not support any attempt to remove a government through unconstitutional means.
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“Nigeria will never support illegality or unconstitutional change of government anywhere, no matter who is involved or which country is concerned,” he said.
The minister also rejected claims that Nigeria, through its membership of the Economic Community of West African States (ECOWAS), supported or endorsed the military takeover in Niger.
He said the Federal Government had already stated its position on the situation in Niger in an earlier statement issued by the Ministry of Foreign Affairs on August 30, 2026.
According to him, Nigeria remains deeply concerned about developments in Niger and wants the country to return peacefully to stability and constitutional order.
Enikanolaiye said Nigeria’s close historical, cultural and fraternal ties with Niger made peace and stability in the neighbouring country particularly important.
“Nigerians at home and abroad should disregard the videos and narratives circulating online, they are intended to create confusion and tarnish Nigeria’s image,” the statement said.
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