The Central Bank of Nigeria (CBN) affirmed via a Press Release, the strength of the Banking Sector, as well as, issued routine transitional guidance for select institutions.
According to the Press Release posted on its official X account, the CBN said:
“As part of its ongoing efforts to strengthen the banking system, the Central Bank of Nigeria (CBN) introduced time-bound measures for a small number of Banks still completing their transition from the temporary regulatory support provided, mostly in response to the economic impact of the COVID-19 pandemic.
“This step is part of CBN’s broader, sequenced strategy to implement the recapitalisation programme announced in 2023. The programme, designed to align with Nigeria’s long-term growth ambitions, has already led to significant capital inflows and balance sheet strengthening across the sector. Most banks have either completed or are on track to meet the new capital requirements well before the final implementation deadline of March 31, 2026.
“The measures announced apply only to a limited number of Banks. These include temporary restrictions on capital distributions, such as dividends and bonuses, to support retention of internally generated funds and bolster capital adequacy. All affected banks have been formally notified and remain formally close supervisory engagement.
“To support a smooth transition, the CBN has allowed, time-bound flexibility within the capital framework, consistent with international regulatory norms. Nigeria generally maintains Risk-based capital requirements that are significantly more stringent than the global Basel III minimums.”
Full Press Release
