Fourteen Nigerian banks have reportedly not met the Central Bank of Nigeria’s (CBN) recapitalisation requirements as the deadline approaches. This shortfall has raised concerns about the stability and readiness of these banks to comply with regulatory standards.
The CBN had set the recapitalisation directive to ensure that banks maintain adequate financial strength to support economic growth. Banks that fail to meet the requirements could face sanctions, including restrictions on operations or financial penalties.
Industry analysts warn that non-compliance may affect customer confidence and the overall banking sector. Some banks are reportedly negotiating with investors to raise the necessary capital before the final deadline.
The banking regulator has urged all institutions to act quickly and meet the recapitalisation targets. Meeting these requirements is seen as crucial to sustaining Nigeria’s financial system and protecting depositors’ funds.
