Nigerian Banks That Have Secured Their Licences Under New CBN Rules
Nigeria’s banking sector is undergoing one of its most significant transformations in decades following the Central Bank of Nigeria’s (CBN) announcement of new minimum capital requirements in March 2024. Eyes Of Lagos reports,
Under the directive, commercial banks are required to raise additional capital and meet new thresholds on or before March 31, 2026. The policy is aimed at building stronger, more resilient banks capable of financing large-scale projects, stabilising the financial system, and supporting Nigeria’s ambition of becoming a $1 trillion economy.
For customers, investors, and businesses, it is important to understand that banks now operate under three licence categories: International, National, and Regional, each with different capital requirements and operating permissions.
An international banking licence allows Nigerian banks to operate beyond the country’s borders and engage in cross-border and global financial transactions. To qualify, banks must have a minimum paid-up capital of ₦500 billion.
As of early 2026, the following banks have met the requirement and secured their international licences:
Access Bank Plc
Fidelity Bank Plc
First Bank of Nigeria Limited
Guaranty Trust Bank (GTBank)
United Bank for Africa (UBA)
Zenith Bank Plc
These banks are now positioned to compete more aggressively on the global stage, finance multinational projects, and support international trade and investment flows.
A national banking licence permits banks to operate across Nigeria but limits their ability to conduct international banking activities. To qualify, banks must meet a ₦200 billion paid-up capital requirement.
The following banks have secured national licences under the new framework:
First City Monument Bank (FCMB)
(currently raising additional capital to secure an international licence)Wema Bank
Standard Chartered Bank Nigeria
Citibank Nigeria
Stanbic IBTC Bank
Sterling Bank
Globus Bank
Premium Trust Bank
While these banks remain strong players within Nigeria, some—like FCMB—have indicated plans to upgrade their licences by raising additional capital ahead of the 2026 deadline
According to the CBN, the recapitalisation policy is designed to:
Strengthen the banking system against economic shocks
Improve banks’ capacity to fund large infrastructure and industrial projects
Restore confidence among local and foreign investors
Position Nigeria’s financial sector for long-term growth
Industry analysts note that the reform could also lead to mergers, acquisitions, and strategic partnerships as banks race to meet the new thresholds.
What Customers and Investors Should Know
For customers, the recapitalisation drive does not affect deposits or day-to-day banking operations. For investors, however, it presents both risks and opportunities, especially as banks raise capital through rights issues, public offers, or strategic investments.
As the March 2026 deadline approaches, further changes in Nigeria’s banking landscape are expected.