CBN Recapitalisation: 6 Nigerian Banks Face N965bn Gap as Zenith, Access, Others Meet Deadline
- About six commercial banks are facing a capital funding gap of about N965 billion as the recapitalisation deadline set by the CBN approaches
- Already, these banks have raised N1.3 trillion, representing 52.6% of the estimated capital of N2.5 trillion in the banking sector
- Findings show that four banks have already scaled the recapitalisation hurdle set by the CBN
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Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
About six commercial banks are racing to meet a combined capital funding gap of N964.8 billion, as the deadline for banking recapitalisation set by the Central Bank of Nigeria (CBN) approaches.
A new finding and market data show that Fidelity Bank, FCMB, GTCO, UBA, First Holding Company, and Sterling Bank face varying funding gaps under the new regulatory ceilings.
Source: Getty Images
Seven banks raise N1.3 trillion
The recapitalisation drive is already reshaping conversations and strategies across boardrooms.
According to a report by The Sun, about four banks have fully completed their recapitalisation drives, meeting the CBN’s minimum capital requirements.
The banks include Access Bank, Zenith Bank, Ecobank, and Lotus Bank.
In total, about seven banks have raised N1.3 trillion, representing 52.6% of the estimated capital of N2.5 trillion in the banking sector.
The banks that have yet to meet the new CBN threshold include Fidelity Bank, with a funding gap of N194.4 billion, UBA, with a gap of N144.8 billion, and First Bank, with a gap of N78.7 billion.
Others are Sterling Bank with a N70 billion gap, GTBank, with a funding gap of N152.4 billion, and FCMB, with a funding gap of N90.7 billion.
Analysts release verdict on Nigerian banks
This funding shortfall shows gaps between the financial institutions’ current shareholder funds and the new minimum capital requirement ceilings set by the apex bank.
According to a previous report by Legit.ng, commercial banks with international, national, and regional licences must meet the capital thresholds of N500 billion, N200 billion, and N50 billion, respectively, by March 31, 2026.
While the gaps may appear challenging, analysts say the overall health of the banking sector remains robust and the second half of 2025 is positive.
Afrinvest disclosed its review that the outlook for the banking industry remains broadly solid due to expected earnings growth and ongoing balance sheet optimisation.
The financial institutions are expected to meet the capital base through a raft of rights issues, private placements, mergers and acquisitions, and asset restructuring.
Recapitalisation: What’s CBN doing?
Osas Igho, a financial analyst, disclosed that some of the banks have approached and begun engaging with institutional investors, while others have approached foreign partners.
“I will not say they are desperate, but it is a race against time. GTBank’s recent announcement to list on the London Stock Exchange is one move to beat the CBN’s deadline. The bank is targeting about $100 million from the listing, which will be more than sufficient for the new capital threshold,” Igho said.
The apex bank has said the recapitalisation drive is a larger effort to stabilise the economy and support the ambitious $1 trillion economy target of the Nigerian government.
Source: Getty Images
Industry analysts say how each of the banks wades through the capital raising maze will reshape competition and redefine the pecking order in Nigeria’s banking sector.
Smaller banks begin merger talks
Legit.ng earlier reported that the CBN recapitalisation target was set to significantly reshape the country's banking landscape, particularly impacting smaller banks.
The deadline for meeting the new capital requirements is March 31, 2026.
According to reports, two Nigerian banks, one with a regional licence and another with a national licence, had started merger talks, which might be finalised in the coming months.
Source: Legit.ng
