<< Back             Poser >> 30 banks meet CBN recapitalisation requirements Business By Emma Ujah, Abuja The Central Bank of Nigeria (CBN) has disclosed that 30 banks have met the revised minimum capital requirements under its ongoing recapitalisation programme. Mrs. Hakama Sidi Ali, Acting Director of Corporate Communications at the CBN, said in a statement that the exercise, launched in 2024, aims to strengthen the resilience, stability, and long-term capacity of Nigeria’s banking sector to support economic development. “Since the introduction of the policy, banks across the industry have taken steps to strengthen their capital base in line with the revised regulatory requirements,” she said. “As of March 6, 2026, thirty banks have met the new minimum capital requirements applicable to their respective licences.” Mrs. Ali added that a total of 33 banks have raised additional capital through rights issues, initial public offerings (IPOs), and private placements as part of the programme. The remaining banks’ capital positions are undergoing CBN verification before final confirmation of compliance. She reassured that the Nigerian banking system remains stable and sound, noting that the recapitalisation programme is on track and will further enhance the sector’s capacity to support households, businesses, and sustainable economic growth. “The Central Bank of Nigeria will continue to maintain close supervisory engagement with regulated institutions to ensure full compliance with prudential and capital requirements,” she concluded. Vanguard	Naira depreciates to N1,362/$ in parallel market The Naira yesterday depreciated to N1,362 per dollar from N1,357 in the parallel market on Monday. West Africa must modernise agriculture for food security – Experts Experts have called for the urgent modernisation of agriculture across West Africa, stressing the need to move beyond increased production and focus on transforming agricultural value chains to ensure food security and improved nutrition amid growing climate and population pressures. Climate change threatens Nigeria’s food systems as farmers count losses ….experts call for urgent, sustainable measures to mitigate impacts By Gabriel Ewepu ABUJA — Nigeria’s food system is facing growing threats from climate change as erratic rainfall, prolonged dry spells, flooding, rising temperatures, pests and diseases disrupt farming activities, slash yields and leave farmers counting losses running into billions of Naira. The situation, according to […] World Bank: Fuel price to slow Nigeria’s poverty reduction •Says rising pre-election spending may derail reforms •Raises Nigeria’s 2026 growth forecast to 4.3% •Projects 15.7% inflation rate for 2026 •44% of firms in Nigeria, Kenya adopt AI, power constraints threaten gains By Babajide Komolafe, Economy Editor The World Bank has warned that elevated fuel prices could slow Nigeria’s poverty reduction efforts despite an expected […] Government releases GH¢9.1b covering six quarters of DACF to MMDAs – Ayariga Mr Mahama Ayariga, the Minister of Local Government, Chieftaincy and Religious Affairs, has announced government's release of GH¢9.1 billion, covering six quarters of the District Assemblies Common Fund (DACF) to Metropolitan, Municipal, and District Assemblies (MMDAs) nationwide. Cedi was worst African currency in quarter 2, 2026 – World Bank According to the World Bank, the escalation of the conflict in the Middle East initially exerted broad-based pressure on African currencies.