By Sojworldnews | February 26, 2026
CBN 13 banks in trouble – Nigeria’s banking sector is heading toward a major shake-up after the Central Bank of Nigeria (CBN) confirmed that 13 deposit money banks are yet to fully meet new capital requirements ahead of the March 31, 2026 deadline.
The apex bank disclosed that while 20 out of 33 banks have already met the new capital thresholds, the remaining 13 institutions are still at advanced stages of compliance. Consequently, analysts warn that the situation may trigger mergers, acquisitions or licence downgrades if the affected banks fail to meet the deadline.
📊 What the CBN Said
Speaking after the Monetary Policy Committee meeting, CBN Governor Olayemi Cardoso confirmed that progress has been significant but incomplete.
- 20 banks have fully met recapitalisation requirements
- 13 banks are still finalising capital raising
- The deadline remains March 31, 2026
The recapitalisation policy, introduced in 2024, is designed to strengthen Nigeria’s financial system, improve resilience and position banks to support Nigeria’s ambition of building a $1 trillion economy.
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💰 New Minimum Capital Requirements
Under the new CBN rules:
- International banks must raise ₦500 billion
- National banks must raise ₦200 billion
- Regional/merchant banks require ₦50 billion
- Non-interest banks need ₦20 billion (national) and ₦10 billion (regional)
So far, more than ₦4.05 trillion has been raised and verified through the programme from both local and foreign investors.
CBN 13 banks in trouble: 🏦 Banks Yet to Fully Meet Requirements
Although the CBN has not officially released a comprehensive list, industry reports indicate that banks still working toward compliance include:
- Unity Bank Plc
- Keystone Bank Limited
- Polaris Bank Limited
- FCMB Group Plc
- Union Bank of Nigeria
- SunTrust Bank Nigeria Limited
- Parallex Bank Limited
- Optimus Bank Limited
- and several others
⚠️ Possible Outcomes for the Affected Banks
Financial analysts believe the next few weeks will determine the future of the 13 banks. Possible outcomes include:
- Forced mergers or acquisitions similar to the 2004 banking consolidation era
- Licence downgrades to regional or niche operations
- Regulatory intervention by the CBN
Already, insiders say some lenders are in quiet merger talks while others are finalising investor funding.
📉 What This Means for Customers
For customers and businesses, the developments are not expected to disrupt banking services.
- Deposits remain protected under Nigerian banking regulations
- Daily banking operations will continue as normal
- Any restructuring will be supervised by the CBN
However, customers may notice branding changes, restructuring or branch adjustments in the coming months.
📈 Why the CBN is Taking Action
The recapitalisation programme forms part of broader financial reforms aimed at:
- Strengthening banks against inflation and exchange rate volatility
- Boosting investor confidence
- Preventing systemic banking failures
- Supporting long-term economic growth
🔍 The Bottom Line
Nigeria’s banking industry is entering a critical transformation phase. With only weeks to the deadline, the fate of the 13 banks will determine whether Nigeria witnesses a wave of mega mergers or the rise of stronger and better capitalised financial institutions.
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