Three Nigerian banks have yet to meet the minimum capital requirements set by the Central Bank of Nigeria (CBN) as of Friday, March 6, 2026, with the regulator’s recapitalisation deadline of March 31 fast approaching.

The development was disclosed in a statement issued on Friday by the CBN’s spokesperson, Mrs. Hakama Ali-Sidi.

According to the statement, 30 banks in the country have successfully met the new minimum capital thresholds required for their respective banking licences, leaving only three institutions yet to complete the process.

However, the apex bank explained that the remaining three banks are currently undergoing routine verification of their capital positions after a total of 33 banks raised additional funds through rights issues and Initial Public Offerings (IPOs).

“As of March 6, 2026, the recapitalisation exercise is progressing steadily. Thirty (30) banks have met the new minimum capital requirements applicable to their respective licence authorisations,” the statement noted.

Earlier, CBN Governor Olayemi Cardoso had revealed during the 304th Monetary Policy Committee briefing that 20 out of the 33 banks had already met the capital requirements.

This indicates that between February 24 and March 6, an additional ten banks successfully fulfilled their minimum capital obligations.

The CBN had in March 2024 announced new capital requirements for Nigerian banks, setting March 31, 2026, as the deadline for compliance.