Access, Wema, Zenith, five other banks scale CBN recapitalisation hurdle — Cardoso

Access Holdings PIc, Wema Bank, and Zenith Bank are among the eight banks that have fully completed their recapitalisation requirements, according to the Central Bank of Nigeria (CBN).

The other five banks are: Lotus Bank, Jaiz Bank, Providus Bank, Stanbic IBTC, and Greenwich Merchant Bank.

The CBN announced last Tuesday that eight lenders had fully met the new capital thresholds, while others were steadily progressing toward the 2026 deadline.

Olayemi Cardoso, governor of the CBN, made the disclosure in Abuja following the conclusion of the two-day Monetary Policy Committee (MPC) meeting.

The recapitalisation directive, issued in March 2024, mandates new minimum capital levels for commercial banks:N500 billion for international banks, N200 billion for national banks, and N50 billion for regional banks. For non-interest banks, the thresholds are N20 billion (national) and N10 billion (regional).