With less than a year until Nigeria’s banking recapitalization deadline, only seven banks have met or are on track to meet the new capital requirements. BusinessDay data reveals that commercial and non-interest banks must raise at least N2.47 trillion before the March 31, 2026 deadline.
Zenith Bank, Access Holdings, Ecobank Nigeria, and Lotus Bank have successfully met the new capital threshold. Meanwhile, Wema Bank, Stanbic IBTC, and Fidelity Bank are set to reach the mark once they complete their respective rights issues of N149.3 billion, N148.7 billion, and 20 billion private placement shares.
So far, 10 banks have raised or are in the process of raising N2.02 trillion through rights issues, public offers, and private placements.