"2026 Nigerian Banks Recapitalization: Is Your Bank Ready for the Challenge?"

Table of Contents

• Countdown to March 31, 2026
• Current Compliance Status
• Recapitalised Banks
• Mergers and Downgrades
• Non-Interest Banking
• Impact on Customers

The countdown to March 31, 2026, has officially entered its final phase.

While you may have come across reports stating that only 19 banks have achieved compliance, the situation is actually more vibrant.

As of January 2026, there has been a notable increase in compliance, with around 22 out of 34 banks having secured their licenses in accordance with the Central Bank of Nigeria’s (CBN) new regulations.

If you're concerned about the safety of your funds or the reliability of your bank, here is a fact-based overview of the current banking environment, addressing common misconceptions along the way.

Recapitalised Banks

The CBN has established a high benchmark of ₦500 billion for international banks and ₦200 billion for national banks.

Importantly, this amount must be “paid-up capital”; banks cannot include their retained earnings towards this target.

The following banks have successfully recapitalised:

Access Bank, Zenith Bank, GTBank, UBA, First Bank, and Fidelity have surpassed the ₦500 billion threshold and secured their international licenses.
FCMB, Wema, Standard Chartered, and Citibank have officially obtained their national licenses, with FCMB nearing the ₦500 billion mark to secure its international banking license.

Other banks that have met the requirements include Stanbic IBTC, Sterling Bank, Providus Bank, Globus Bank, and Premium Trust Bank.

Mergers and Downgrades

The recapitalization narrative for 2026 also includes mergers, acquisitions, and downgrades:

Unity Bank and Providus Bank are in the final stages of merging to form a top 10 Nigerian lender.

In a similar vein, Titan Trust has completed its integration with Union Bank to strengthen its capital base.
Nova Bank has opted for a Regional License (₦50 billion) to concentrate on becoming a high-end niche player, which is a strategic business decision.

Non-Interest Banking

Islamic banks such as Jaiz, Taj, and Lotus have all met their ₦20 billion requirement, demonstrating that niche banking is thriving.

For the few banks still struggling, the next 80 days may involve last-minute mergers or private equity investments.

Impact on Customers

For you, the customer, this signifies a banking sector that is more robust, transparent, and better capitalized than ever before.