The Nigerian Banking Sector is currently making every move to meet the March 31, 2026 Central Bank of Nigeria(CBN) dead line for re-capitalization in what has been described as one of the sector’s most transformative periods in decades.

In March 2024, CBN announced a new minimum capital requirement for banks, prompting them to raise additional capital by 31 March 2026. The goal is to create larger, more resilient banks that can support big projects, strengthen the financial system, and help drive Nigeria toward a $1 trillion economy.

The new capital requirement is at three different levels; International, National, and Regional.

Already, some banks have secured International Licences. An international banking licence allows banks to operate beyond Nigeria’s borders and engage in cross-border transactions. To qualify, banks must meet a higher capital threshold — ₦500 billion in paid-up capital.

As of early 2026, the following banks met this requirement and secured their international licences:

Access Bank Plc

Fidelity Bank Plc

First Bank of Nigeria Ltd

Guaranty Trust Bank (GTBank)

United Bank for Africa (UBA)

Zenith Bank Plc

Other banks have also secured national licences. A national banking licence allows operations across Nigeria but restricts international expansion. Banks need ₦200 billion in paid-up capital to secure this licence. These banks include:

FCMB (First City Monument Bank) – currently pushing to raise additional capital to secure its international licence.

Wema Bank

Standard Chartered Bank (Nigeria)

Citibank Nigeria

Stanbic IBTC Bank

Sterling Bank

Globus Bank

Premium Trust Bank

It is expected that more banks will meet the deadline.

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