The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that eight banks have met recapitalisation while others are in the process of meeting the benchmark, ahead of the March 31, 2026 deadline given to banks.

The apex bank had given a 24-month timeline, running from April 1, 2024, to March 31, 2026, for banks with international licences to maintain at least N500 billion, national banks to have a minimum of N200 billion, and regional banks to maintain N50 billion as paid-up capital.

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Cardoso made the disclosure in Abuja while briefing the press on the outcome of the 301st meeting of the Monetary Policy Committee (MPC) of the apex bank.

He, however, did not disclose the identities of the banks that have crossed the hurdle as at the time of filing this report.

Details later…