CBN Governor, Yemi Cardoso
By JOY ADARA, Abuja-
The Central Bank of Nigeria (CBN) has introduced time-bound measures to support banks transitioning from temporary regulatory support provided during the COVID-19 pandemic.
This move aims to further strengthen the banking system as part of its broader recapitalization program announced in 2023.
This is contained in a statement issued by the CBN’s Acting Director, Corporate Communications Department, Mrs. Hakama Sidi-Ali.
Mrs. Sidi-Ali said: “Most banks have either completed or are on track to meet the new capital requirements well before the final implementation deadline of March 31, 2026.”
The measures apply to a limited number of banks and include temporary restrictions on capital distributions, such as dividends and bonuses, to support retention of internally generated funds and bolster capital adequacy.
Sidi-Ali noted that “these adjustments reflect a well-established supervisory process consistent with global norms.”
The CBN has allowed limited flexibility within the capital framework to ensure a smooth transition.
“Nigeria generally maintains Risk-Based Capital requirements that are significantly more stringent than the global Basel III minimums,” Sidi-Ali added.
According to her, the goal is to maintain a transparent and strong banking sector.
She said the CBN remains committed to engaging with stakeholders throughout this period via the Bankers’ Committee, the Body of Bank CEOs, and other industry forums.
