By Aduragbemi Omiyale
The Association of Corporate and Marketing Communication Professionals of Banks (ACAMB) has affirmed its support for the recapitalisation policy of the Central Bank of Nigeria (CBN) for Nigerian banks.
The regulator recently announced new minimum capital requirements for Deposit Money Banks (DMBs), Microfinance Banks (MFBs) and other financial institutions in the country.
The CBN said that banks with international operations would be required to increase their capital base from N25 billion to N500 billion, while banks with national banking licences must have at least N200 billion.
The lenders were given the end of the first quarter of 2026 to meet the new lowest capital requirement, but must within a month present their blueprint on how they intend to raise funds for this process.
The last time the banking sector was recapitalised was in 2005 when the current Governor of Anambra State, Mr Charles Soludo, was the CBN chief.
At his first public outing after he was appointed last September, the incumbent head of the central bank, Mr Yemi Cardoso, hinted that the banks would be asked to increase their capital base, especially because of the Naira devaluation.
In a statement on Sunday, the president of ACAMB, Mr Rasheed Bolarinwa, assured the banking public that the financial institutions would meet the new capital base.
“The import of the recapitalisation announced is that Nigerian banks are safe and reliable but the apex bank in its developmental mandate, is leading the banks to strengthen their capacities to meet competitive domestic and global financial needs.
“This overarching theme that runs through the circular and its explanatory notes further affirms the soundness of the banking sector, in line with several rating reports on Nigerian banks by leading local and international rating Agencies,” he said in the statement.
“We commend the CBN for the thoughtfulness it has put into the announced modality for the recapitalisation. ACAMB particularly note the distinctive definition of the new minimum capital base for each category of banks as the addition of share capital and share premium, as against the previous use of shareholders’ funds. We urge the public to take note of this change. As it stands, banks are on the same page and as such, there is no need whatsoever for any fear, as the banks can meet the recapitalisation in line with allowable options stipulated by the apex bank.
“All facts point to a win-win for the Nigerian banks, the financial market and the economy under this recapitalisation.
“The Nigerian capital market, where banks are the most influential group, has the depth to meet the capital requirements of banks. The extended timeline till 2026 provides ample opportunity for each bank to follow through its recapitalisation plan, without undue crowding effect,” Mr Bolarinwa added.
He noted that the CBN’s recapitalisation drive would strengthen the economy and further strategically position Nigerian banks as worthy continental and global competitors, pledging support and cooperation of banks in the implementation of the recapitalization programme.
“The banking industry will continue to work with financial authorities to build up the economy. This recapitalisation will put Nigerian banks in better stead to support the strengthening of the economy; the expansion of the real sector, and the building of bigger banking brands that can compete continentally and globally.
“Banks will continue to cooperate with the CBN in the implementation of the recapitalisation programme.
“ACAMB shall also be engaging all stakeholders to ensure balanced and factual representation as the recapitalisation progresses.
“ACAMB reassures all depositors and shareholders to keep about their businesses with the Nigerian banks without fears,” he stated.
