The apex bank also increased capital requirements for banks with regional licences from N15 billion to N50 billion, and those with international licences from N100 billion to N500 billion.
29th March 2024 04:31 AM 
The Central Bank of Nigeria (CBN), has increased the minimum capital requirement for Deposit Money Banks (DMBs) with national licences from N25 billion to N200 billion.
This was according to a statement issued by the Acting Director, Corporate Communications Department of the bank, Mrs Hakama Sidi-Ali, stressing that the new minimum capital for merchant banks will be N50 billion.
Sidi-Ali also announced that the new requirements for non-interest banks with national and regional authorisations are N20 billion and N10 billion.
Meanwhile, the CBN Governor, Yemi Cardoso had urged Nigerian banks to expedite action on the recapitalisation of their capital base to strengthen the financial system.
Similarly, a circular signed by the Director, Financial Policy and Regulation Department, Mr Haruna Mustafa, said that all banks were required to meet the new minimum capital requirement within 24 months commencing from April 1 and terminating on March 31, 2026.
According to Mustafa, the move is to enhance banks’ resilience, solvency, and capacity to continue supporting the growth of the Nigerian economy.
Mustafa also urged banks to consider injecting fresh equity capital through private placements, rights issues and offers for subscription to meet the new minimum capital requirements.
