Nigerian banks that have secured their licences under CBN recapitalisation rules
Nigeria’s banking sector is going through one of its most significant regulatory overhauls in decades, driven by stringent recapitalisation rules set by the Central Bank of Nigeria (CBN) that require banks to meet higher capital thresholds to continue operating and secure their licences. As the March 31, 2026 deadline nears, many banks have already secured the necessary licences to continue functioning under the new regulatory framework, signalling strengthened financial foundations and compliance with supervisory requirements.
A number of the country’s largest commercial lenders have successfully met the ₦500 billion paid-up capital requirement for an international banking licence, which allows them to not only operate nationwide but also to engage in cross-border transactions and international banking operations. These banks include Access Bank Plc, Fidelity Bank Plc, First Bank of Nigeria Ltd, Guaranty Trust Bank (GTBank), United Bank for Africa (UBA) and Zenith Bank Plc. Their compliance means they have secured international licences under the CBN’s capitalization rules and are positioned as among the strongest institutions in the Nigerian financial sector.
In addition, several other banks have met the national licence requirements with a minimum paid-up capital of ₦200 billion, allowing them to continue broader domestic operations. Among those that have secured national licences are First City Monument Bank (FCMB), Wema Bank, Standard Chartered Bank Nigeria, Citibank Nigeria, Stanbic IBTC Bank, Sterling Bank, Globus Bank and Premium Trust Bank. These institutions have either completed recapitalisation or are nearing those targets, ensuring they maintain strong compliance and operational viability.
The broader recapitalisation drive has also seen banks raise equity, pursue mergers, and restructure to meet CBN’s requirements, with the total number of banks that have effectively secured their licences under the new regime approaching more than twenty. This reflects industry-wide adjustment and preparedness to meet regulatory expectations designed to enhance stability, protect depositors and support the resilience of Nigeria’s financial system.
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