By Our Reporter
The Governor of Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that 13 banks are still working to meet the March 31, 2026 recapitalisation deadline as the sector moves toward compliance with new capital thresholds.
Cardoso made this known, while speaking at the 304th Monetary Policy Committee briefing in Abuja, saying that the affected institutions were at advanced stages of their capital-raising processes and exploring various options, including mergers and consolidation, to meet regulatory requirements.
The CBN Governor explained that some banks were finalising strategic plans influenced by legal and structural considerations, particularly those currently under regulatory intervention.
Cardoso noted that the CBN remained engaged with stakeholders to ensure orderly outcomes, while maintaining financial stability across the sector, just as he reassured depositors that funds in the affected institutions remained secure and that operations continued under strict oversight.
He expressed optimism that the remaining banks would achieve substantial compliance before the cut-off date, given the current pace of capital mobilisation.
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