Banks have raised N4.05tn in verified and approved capital ahead of the March 31, 2026, recapitalisation deadline set by the Central Bank of Nigeria. This balance, in my view, represents a mix of domestic and foreign, which signals broad investor engagement and confidence in the sector,” Cardoso said. The recapitalisation policy is aimed at strengthening the resilience of the banking sector and positioning lenders to better support economic growth and absorb potential shocks. Beyond recapitalisation, Cardoso highlighted developments in the external sector, stating that Nigeria’s gross external reserves rose to about $50.4bn as of mid-February 2026. He said, “The capital market is strong enough to provide the much-needed funding for various sectors of the economy.

Source: Punch February 25, 2026 05:52 UTC