Standard Chartered Bank Nigeria Limited has announced that it has successfully met the Central Bank of Nigeria’s (CBN) new minimum capital requirement of ₦200 billion for national commercial banks, well ahead of the 2026 deadline.
The confirmation was contained in a statement issued by the bank on Monday, reaffirming its strong financial position and long-term commitment to the Nigerian market.
In March 2024, the CBN announced a major recapitalisation policy for banks operating in the country, increasing the minimum capital thresholds to strengthen financial stability and enhance the sector’s resilience. Under the new directive, banks with international licences are required to raise their minimum capital to ₦500 billion, while national commercial banks must attain ₦200 billion.
Regional commercial banks and merchant banks were each assigned a minimum capital base of ₦50 billion. For non-interest institutions, national operators are expected to raise ₦20 billion, while regional ones must achieve ₦10 billion. The apex bank gave all affected institutions until March 2026 to comply fully with the new requirements.
At the most recent Monetary Policy Committee (MPC) meeting, CBN Governor Olayemi Cardoso disclosed that 14 Nigerian banks had already met the new capital thresholds, with more expected to do so before the deadline.
Standard Chartered, one of the oldest foreign-owned financial institutions operating in Nigeria, said meeting the new minimum capital requirement demonstrates its strong financial health and long-term confidence in Nigeria’s economy.
According to the bank, the achievement underscores its commitment to deepening its investment footprint in the country and contributing to national productivity through innovative financial solutions, sustainable balance sheet management, and support for key growth sectors.
The Chief Executive Officer of Standard Chartered Bank Nigeria Limited, Dalu Ajene, said the early compliance reflected the bank’s confidence in Nigeria’s future and its readiness to support clients and businesses through ongoing economic reforms.
“Delivering on the CBN’s recapitalisation directive ahead of schedule underscores our unwavering confidence in the resilience and potential of the Nigerian economy,” Ajene stated.
“This achievement reaffirms Standard Chartered’s enduring partnership with Nigeria and our steadfast commitment to foster sustainable growth, support clients, and play a pivotal role in Nigeria’s financial and economic transformation,” he added.
The bank’s Executive Director and Chief Financial Officer, Dayo Omolokun, also noted that the recapitalisation effort highlights Standard Chartered’s strategic focus on Nigeria as one of its key markets in Africa.
“The recapitalisation of Standard Chartered Bank Nigeria Limited ahead of the March 2026 deadline reinforces the group’s commitment to Nigeria as an important and strategic market on the African continent,” Omolokun said.
He explained that since the bank returned to Nigeria in 1999 as a wholly owned subsidiary, it has financed several billion-dollar transactions and provided structured financial solutions that have supported businesses across multiple industries.
“Over the past two decades, we have combined our international network strength with deep local expertise to deliver tailored banking solutions that help clients achieve their ambitions. This new capital investment will allow us to do even more,” Omolokun added.
Standard Chartered further stated that its renewed financial strength positions it to play an active role in supporting the Nigerian government’s economic objectives, particularly the drive toward achieving a $1 trillion economy by 2031, as envisioned by President Bola Tinubu.
The bank added that it would channel new capital inflows into expanding lending to critical sectors such as manufacturing, energy, infrastructure, and technology — all considered essential for inclusive growth and job creation.
Standard Chartered Bank Nigeria Limited has operated in Nigeria for about 26 years, blending global experience with local understanding to deliver a wide range of financial services for individuals, businesses, and communities. It remains one of the few international banks that have maintained a consistent presence in Nigeria’s evolving banking landscape.
The recapitalisation milestone comes as Nigerian banks intensify efforts to strengthen their balance sheets amid new regulatory requirements, exchange rate volatility, and tightening global credit conditions. Analysts say the CBN’s capital policy aims to enhance financial stability, reduce systemic risks, and ensure that Nigerian banks can support larger credit exposures and infrastructure financing in line with the country’s economic ambitions.
With this development, Standard Chartered joins a growing list of banks that have fully complied with the CBN’s directive, positioning themselves for greater operational strength ahead of the 2026 deadline.
