Nigeria, April 1 -- The Central Bank of Nigeria (CBN) has concluded the recapitalisation programme of Nigeria's banking sector, an effort aimed at strengthening the resilience of the financial system and enhancing its capacity to support the economy.

The completion of the recapitalisation was disclosed in a statement jointly signed by the CBN Director, Banking Supervision, Olubukola Akinwunmi, and the Acting Director, Corporate Communications, Hakama Sidi Ali, on Wednesday.

The CBN introduced a revised recapitalisation policy in March 2024, giving banks a 24-month window, from 1 April 2024 to 31 March 2026, to strengthen their capital base. The policy requires Nigerian banks to strengthen their capital base, with thresholds of N500 bill...