With about eleven weeks remaining until the Central Bank of Nigeria’s (CBN) recapitalisation deadline, fourteen banks are yet to meet the required capital threshol
ecalll that as of January 6, 2025, 19 Nigerian banks had successfully complied with the apex bank’s recapitalisation requirements.
Banks that have met the minimum capital benchmark include Access Bank, Fidelity Bank, First Bank, GTBank (GTCO), UBA, Zenith Bank, and 12 others.
However, at the time of this report, 14 banks were still non-compliant. These include First City Monument Bank (FCMB), Unity Bank, Keystone Bank, Union Bank (Titan), Taj Bank, Standard Chartered Bank, Parallex Bank, and SunTrust Bank.
Others yet to meet the requirement are FBH Merchant Bank, Rand Merchant Bank, Coronation Merchant Bank, Alternative Bank, as well as some non-interest banks.
Meanwhile, financial analysts have forecast possible mergers and acquisitions as banks race to meet the March 31 deadline.