Menu 14 Banks Have Met New Capital Requirement – CBN Governor Yemi Cardoso Posted by Thandiubani on Wed 24th Sep, 2025 – tori.ng Share this news: Discover more Nigerian travel guide Financial news subscription World news summaries Political commentary Tech accessories store News aggregation service Weird news compilation Technology gadget reviews Celebrity gossip magazine Technology news updates Cardoso made the disclosure in Abuja while presenting a communiqué from the 302nd meeting of the Monetary Policy Committee (MPC) of the CBN. Yemi Cardoso, Governor of the Central Bank of Nigeria (CBN) has revealed that 14 Nigerian banks have fully met the new capital requirements set under the ongoing recapitalisation exercise. Cardoso made the disclosure in Abuja while presenting a communiqué from the 302nd meeting of the Monetary Policy Committee (MPC) of the CBN. The News Agency of Nigeria (NAN) reports that the recapitalisation policy introduced by the apex bank establishes new minimum capital bases for banks, depending on their licence category. The current exercise marks the first major recapitalisation of Nigeria’s banking sector since 2004, when the CBN raised the minimum capital requirement for all banks from ₦2 billion to ₦25 billion. That policy triggered a wave of mergers and acquisitions that reduced the number of banks from 89 to 25, reshaping the financial sector. Under the new framework, commercial banks with international authorisation must now hold a minimum capital of ₦500 billion. Those with national authorisation require ₦200 billion, while regional commercial banks are expected to meet ₦50 billion. Merchant banks must also maintain ₦50 billion, non-interest banks with national licences require ₦20 billion, and those with regional licences ₦10 billion. Cardoso said the MPC commended the “significant progress” achieved so far, noting that 14 banks have already complied fully with the recapitalisation directive. “They, therefore, urged the CBN to continue the implementation of policies and initiatives that would ensure the successful completion of the ongoing recapitalisation exercise,” he stated. He also highlighted that the MPC acknowledged the successful termination of forbearance measures and waivers on single obligor limits, which had been introduced during times of stress in the financial sector. Their removal, he explained, would enhance transparency, risk management, and long-term stability within the banking system. “The MPC reassured the public that the impact of the removal of forbearance is transitory and does not pose any threat to the soundness and stability of the banking system, price, and other domestic developments,” Cardoso said. Alongside the recapitalisation update, Cardoso announced that the MPC had decided to reduce the Monetary Policy Rate (MPR) by 50 basis points, from 27.50 per cent to 27 per cent. The committee also adjusted the standing facilities corridor around the MPR to +250/-250 basis points and lowered the Cash Reserve Ratio (CRR) for commercial banks from 50 per cent to 45 per cent. The CRR for merchant banks remains at 16 per cent, while the Liquidity Ratio is unchanged at 30 per cent. In a further move to manage liquidity, the MPC introduced a 75 per cent CRR on non-TSA public sector deposits. Cardoso said these measures were informed by a sustained decline in inflation over the past five months, projections of further easing for the rest of 2025, and the broader need to balance price stability with economic recovery. 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