Africa-Press – Ghana. Africa’s largest economy, Nigeria, has closed a landmark 24-month capital drive, with the majority raised from domestic markets. In what analysts are describing as the most significant structural reinforcement of the country’s banking system in a generation, the Central Bank of Nigeria (CBN) has concluded its banking sector recapitalisation programme, with 33 banks raising a combined ₦4.65 trillion in fresh capital over 24 months.
The CBN announced the completion of the programme on April 1, 2026, confirming that all participating institutions remain fully operational and that the banking sector’s capital adequacy ratios now exceed international Basel benchmarks, 10 per cent for regional and national banks, 15 per cent for those with international authorisation.
The scale of the raise drew immediate attention beyond Nigeria’s borders. Of the ₦4.65 trillion mobilised, 72.55 per cent came from domestic investors, with the remaining 27.45 per cent sourced from international markets.
For Ghanaian financial experts and economic analysts watching the exercise closely, the domestic composition was as significant as the total.
It demonstrated that African capital formation, under the right policy conditions, need not rely predominantly on foreign appetite.
“The recapitalisation programme has strengthened the capital base of Nigerian banks, reinforcing the resilience of the financial system and ensuring it is well-positioned to support economic growth and withstand domestic and external shocks,” said CBN Governor Olayemi Cardoso.
The programme, launched in March 2024, was designed not merely to meet thresholds but to reposition the Nigerian banking system as a credible anchor for a broader economic ambition.
It was implemented in parallel with an orderly exit from regulatory forbearance, a step that improved asset quality and reinforced balance sheet transparency across the sector.
The completion of the capital drive now triggers the next phase of the CBN’s reform agenda: a strengthened risk-based supervision framework. Banks are required to conduct regular stress testing across defined scenarios and maintain appropriate capital buffers, with prudential guidelines and the supervisory framework subject to periodic review.
The shift signals that the CBN is moving from a compliance-oriented model toward a forward-looking, resilience-focused one, a transition Ghanaian financial experts and economic analysts say is being watched carefully across West Africa as a benchmark for what post-stabilisation financial governance can look like.
The exercise was completed without disruption to banking services, with customers maintaining uninterrupted access throughout the 24-month period.
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