Rand Merchant Bank Nigeria Meets CBN Recapitalisation Requirement

Rand Merchant Bank Nigeria Limited has announced that it has met the new minimum capital requirement set by the Central Bank of Nigeria (CBN).

The bank disclosed in a statement on Monday that the capital threshold was achieved on December 30, 2025.

In March 2024, the CBN revised the minimum capital requirements for banks operating in Nigeria. Under the new framework, banks with international licences are required to maintain a minimum capital base of ₦500 billion, while national commercial banks must raise at least ₦200 billion. Regional commercial banks and merchant banks are each required to meet a ₦50 billion threshold. In the non-interest banking segment, national operators are expected to maintain ₦20 billion in capital, while regional players are required to raise ₦10 billion.

RMB Nigeria said achieving the capital requirement highlights its financial strength, resilience and strong commitment to regulatory compliance. The bank added that the milestone also reflects shareholders’ confidence in the Nigerian economy and the institution’s role in supporting the country’s evolving financial system.

According to the bank, meeting the CBN recapitalisation benchmark positions it to deliver innovative financial solutions, strengthen customer confidence and contribute meaningfully to the stability and growth of Nigeria’s banking sector.

Commenting on the development, the Chief Executive Officer of RMB Nigeria, Bayo Ajayi, said the bank was pleased to have satisfied the CBN’s capitalisation requirement.

He noted that the achievement demonstrates shareholders’ trust in the Nigerian economy and the bank’s commitment to providing high-quality corporate and investment banking services across Nigeria and the wider African market. Ajayi added that the bank remains focused on building a stronger and more resilient institution capable of thriving in Nigeria’s dynamic financial environment.

With this development, Rand Merchant Bank Nigeria has joined the growing list of financial institutions that have met the CBN’s minimum capital requirement ahead of the March 2026 deadline.

At the recent Bankers’ Dinner in Lagos, CBN Governor Olayemi Cardoso reaffirmed that the recapitalisation exercise remains on track. He disclosed that several banks have already met the new thresholds, while others are making steady progress towards compliance.

According to Cardoso, 27 banks have raised capital through public offers and rights issues so far, with 16 institutions having met or exceeded the new minimum requirements, underscoring the resilience and depth of Nigeria’s banking sector.