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14 Nigerian Banks Meet CBN’s New Capital Rule, Cardoso Says
Central Bank of Nigeria (CBN) Governor Yemi Cardoso said Friday that 14 commercial banks have fully met the new capital requirements under the country’s ongoing recapitalisation program.....KINDLY READ THE FULL STORY HERE▶
The announcement comes as the CBN pushes lenders to strengthen their financial base in order to make the banking sector more resilient to economic shocks. The recapitalisation drive, launched earlier this year, is one of the biggest reforms in Nigeria’s financial system in nearly two decades.
Cardoso made the disclosure while speaking at an economic policy forum in Abuja. He said the banks that have already met the new rule now stand in a stronger position to support credit growth and investment in Africa’s largest economy.
“The recapitalisation process is progressing well,” Cardoso said. “So far, 14 Nigerian banks have successfully met the new capital requirement, and we expect others to follow as the exercise continues.”
Key Details of the Recapitalisation
The new capital rule requires commercial banks to significantly raise their minimum capital base. The CBN says the higher threshold is needed to keep the banking sector stable in a time of rising inflation, a weakening naira, and global financial pressures.
Under the plan, international banks must raise their minimum capital to ₦500 billion, while national banks must hold at least ₦200 billion. Regional banks face a lower threshold but still must increase their capital to remain licensed.
Banks can meet the requirement through fresh equity injections, mergers, or the retention of earnings. The CBN has set a deadline of 2026 for all institutions to comply.
Why It Matters
Nigeria’s banking system has faced mounting pressure in recent years. Inflation is above 25 percent, foreign exchange shortages remain a challenge, and businesses struggle to access affordable loans.
Analysts say recapitalisation will give banks a stronger balance sheet, reduce the risk of collapse, and increase their ability to lend to the private sector. This, in turn, could help boost growth in an economy heavily dependent on oil revenue but seeking to diversify.
“This is a necessary step,” said Lagos-based financial analyst Chinedu Okeke. “The global environment is tough, and Nigerian banks need more strength to compete, especially with the demands of financing infrastructure, small businesses, and technology growth.”
Past Reforms
The last major recapitalisation took place in 2005, under then-CBN Governor Charles Soludo. At that time, the minimum capital base for banks was raised to ₦25 billion, which led to a wave of mergers and reduced the number of banks in Nigeria from 89 to 25.
The 2024 exercise is seen as even more ambitious. With the naira losing value against the U.S. dollar, the real strength of banks’ capital has weakened, prompting the CBN to take action.
Industry Response
Several banks have already announced plans to raise new funds through rights issues, public offers, and bond sales. Some are in talks about possible mergers.
Bank executives say they support the CBN’s push but warn that market conditions may make fundraising difficult. International investors have been cautious about Nigeria due to foreign exchange restrictions and policy uncertainty.
Still, Cardoso expressed confidence that the sector would meet the deadline. “We are committed to ensuring that Nigerian banks remain sound, safe, and able to finance the economy,” he said.
With 14 banks already compliant, the focus will now be on smaller and mid-sized lenders, many of which may struggle to meet the deadline without partnerships or new investors.
Observers say the outcome of the recapitalisation will shape the future of Nigeria’s banking landscape, potentially leading to fewer but stronger banks.
“The banking sector is the heartbeat of the economy,” said Okeke. “If the recapitalisation succeeds, it will restore confidence, attract foreign investment, and provide the support businesses need to grow.”
For now, the CBN has not released the names of the banks that have met the requirement, but officials say the full list will be made public in due course.
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THE GREAT BETRAYAL? Aisha Yesufu Tears Into NDC Secretary Over Broken Promises And Secret Deals!.
Aisha Yesufu has publicly slammed the Nigeria Democratic Congress (NDC) leadership following a controversial FCT senatorial primary. In a viral video, the activist accused party officials—including National Secretary Ikenna Morgan Enekweizu—of manipulating the process behind closed doors and failing to honor previous commitments. While party officials cited her late entry as a reason for denying her the ticket, Yesufu rejected claims that she withdrew from the race, insisting she stayed until the end. Though she criticized the primary as deeply flawed and subverted, Yesufu confirmed she will not pursue legal action, stating she refuses to waste energy on a grievance system meant to exhaust participants.....KINDLY READ THE FULL STORY HERE▶
Human rights activist Aisha Yesufu has voiced strong opposition to the Nigeria Democratic Congress (NDC) leadership over their handling of the FCT senatorial ticket. Yesufu alleged that the primary was decided in secret after procedures were unexpectedly altered and the process was moved from a direct primary system to a delegate-based one. She specifically targeted the National Secretary, arguing that the party failed to keep its public promises. Emphasizing that she remained committed to the race despite the obstacles, Yesufu stated she would have accepted a fair loss, but chose to walk away from the contested outcome to avoid a grueling and futile legal battle.
Option 3: Quick Highlights (Best for Infographics)
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The Conflict: Aisha Yesufu challenges the NDC over the management of the FCT senatorial primary.
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The Allegations: Yesufu claims the process was manipulated behind closed doors, with last-minute venue changes and an unexpected shift to a delegate-based system.
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The Criticisms: The activist accused party leadership, specifically the National Secretary, of failing to uphold official commitments and broken promises.
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The Outcome: Yesufu denies dropping out of the race but confirms she will not head to court, labeling the grievance process as an attempt to “wear people down”.
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POLITICAL SHOCKER: Prophet Isa El-Buba Dumps Peter Obi In Massive Alliance Shift!.
In a major political realignment, Prophet Isa El-Buba has officially withdrawn his backing for Peter Obi of the Nigeria Democratic Congress (NDC) and declared his full support for Prince Adewole Adebayo of the Social Democratic Party (SDP) for the 2027 polls. Speaking to supporters in Bauchi, the Initiative for a Better and Brighter Nigeria (IBBN) convener stated his move is aimed at curbing the rise of totalitarianism. He praised Adebayo as the leader best positioned to restore public trust and promised to mobilize his entire nationwide movement to ensure an SDP victory, while pointedly warning that Nigerian voters are no longer for sale with bags of rice or cash.....KINDLY READ THE FULL STORY HERE▶
Prophet Isa El-Buba, the prominent convener of the Initiative for a Better and Brighter Nigeria, has announced his departure from Peter Obi’s camp to endorse Prince Adewole Adebayo of the Social Democratic Party (SDP). During an address in Bauchi State, El-Buba framed the shift as a necessary step to protect democratic plurality and combat the risk of authoritarianism in the nation’s political landscape. He emphasized his belief in Adebayo’s vision to rebuild national values and confirmed that the IBBN’s grassroots network will now be focused on mobilizing support for the SDP. El-Buba also took the opportunity to caution against vote-buying, asserting that Nigerians are determined to restore the country’s glory through genuine leadership.
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The Switch: Prophet Isa El-Buba leaves the Peter Obi (NDC) camp to endorse Prince Adewole Adebayo (SDP) for 2027.
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The Reason: To prevent a drift toward “totalitarian politics” and protect democratic plurality.
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The Strategy: The IBBN movement will mobilize nationwide grassroots support for the SDP.
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The Warning: El-Buba hit out at transactional politics, declaring: “Nobody will buy the conscience of Nigeria with money or a bag of rice.”
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“I Have Jonathan’s Certificate Of Return!” – Agbedi Drops Shocking Political Claim.
Fredrick Agbedi, a House of Representatives member representing Bayelsa State, has called on Nigerians to applaud the Peoples Democratic Party (PDP) for encouraging former President Goodluck Jonathan to make a political comeback. During an appearance on Arise Television’s morning show this Wednesday, Agbedi maintained that Jonathan holds the full right to seek the presidency in 2027.....KINDLY READ THE FULL STORY HERE▶
Regarding the former president’s potential candidacy, Agbedi remarked:
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The PDP has repeatedly discussed Jonathan’s potential run, and the internal processes are nearly finished.
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He is currently in possession of the official Certificate of Return, which is intended for presentation to Jonathan.
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Given Jonathan’s track record of “credible transformation” during his tenure, Agbedi argued that citizens should support the PDP’s efforts to nominate him as a solution to Nigeria’s current challenges.
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Emphasizing the spirit of national service, Agbedi questioned the opposition to Jonathan’s potential return, asking where else a dedicated leader should serve if not for the betterment of his own country.
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He confirmed that should Jonathan choose to run, it would be under the banner of the PDP.
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