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This article explores the potential legacy of Yemi Cardoso as Governor of the Central Bank of Nigeria, focusing on his stated goals of restoring credibility, achieving price stability, and strengthening the banking sector for sustainable growth.
The banking sector witnessed a significant rise in foreign capital inflows, totaling $13.53 billion in 2025, which marks a 93.25% increase compared to the previous year. This growth is attributed to banks' proactive capital raising initiatives ahead of the Central Bank of Nigeria's recapitalization deadline.
As the recapitalisation deadline set by the Central Bank of Nigeria (CBN) approaches on March 31, several banks are intensifying efforts to comply. While 32 banks have already met the requirements, some are contemplating mergers and others are under supervision by regulators.
The Central Bank of Nigeria has initiated measures to limit banking services for individuals and entities with significant loan defaults, aiming to promote credit discipline and uphold the country's financial integrity.
Globus Bank has successfully exceeded the N200 billion minimum capital requirement imposed on commercial banks with national licenses ahead of the Central Bank of Nigeria's deadline. This accomplishment comes after a verification by the CBN confirming the bank's compliance.
The Central Bank of Nigeria (CBN) reports that 30 banks have successfully met the new minimum capital standards, indicating steady progress in the ongoing recapitalisation exercise ahead of the March 31 deadline.
