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Deposits held by Nigerian banks at the Central Bank of Nigeria (CBN) have climbed to a record N128.9 trillion as of March 2026. This surge signifies substantial excess liquidity within the financial system and a preference among banks for low-risk investment options.
DataPro, a Nigerian rating agency, has emphasized the necessity for banks to initiate portfolio assessments and compile essential data as part of compliance with new directives from the Central Bank of Nigeria (CBN). This move aims to enforce a risk-based capital requirement policy.
Four banks have yet to fulfill the Central Bank of Nigeria's recapitalisation criteria, while 30 others are on track ahead of the March 31 deadline.
Signature Bank Limited has successfully raised its capital to ₦52 billion, exceeding the ₦50 billion threshold mandated by the Central Bank of Nigeria. This achievement aligns with the CBN's recapitalisation initiative aimed at strengthening the financial sector.
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.
A recent report from Fitch indicates that Nigerian banks have been pivotal in driving significant interest income growth in Africa, outperforming other emerging markets during the first half of 2025. The report highlights an increase in the average net interest margin for African banks.
The banking industry in Nigeria is nearing the completion of its capital overhaul, with financial institutions intensifying efforts as the Central Bank's deadline approaches. Analysts note a shift in focus from capital raising to regulatory confirmations.
Nigerian banks are witnessing a worrying rise in bad debts, with several institutions surpassing the regulatory limit for non-performing loans. This trend prompts urgent action from financial institutions and regulatory bodies to avert a recurrence of past financial crises.
In January 2026, deposits by Nigerian banks with the Central Bank of Nigeria (CBN) surged to N52.6 trillion, a significant increase driven by high interest rates and risk-averse lending practices.
The Central Bank of Nigeria has set a new minimum capital requirement for banks, aimed at fostering larger and more resilient financial institutions. As of early 2026, several banks have successfully met these requirements and secured their licenses for international and national operations.
