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The Central Bank of Nigeria (CBN) Deputy Governor in charge of Financial System Stability, Mr. Philip Ikeazor, has emphasized the importance of recapitalization in building a stronger, more resilient, and inclusive financial system that supports Nigeria’s economic aspirations.
Delivering a keynote address at the Association of Corporate Affairs Managers of Banks (ACAMB) National Retreat held in Abeokuta, Ogun State, Mr. Ikeazor, said the exercise is further aimed at inclusive financial system that supports Nigeria’s aspiration of becoming a $1trn economy by 2030.
Speaking on the theme, “Banks Recapitalisation and Beyond: Amplifying Brand Resilience & Stakeholders’ Financial Inclusivity,” Ikeazor described the recapitalisation policy as a bold statement of ambition and resilience rather than a mere regulatory directive.
The CBN Deputy Governor outlined the benefits of recapitalization, stating that the true goal of the exercise is to create better banks that are safe, sound, well-governed, innovative, and inclusive. He stressed that banks must leverage stronger capital bases to expand credit to micro, small, and medium enterprises (MSMEs), enhance financing for women and youth, and deepen investments in digital innovation and artificial intelligence.
A stronger capital base, according to Ikeazor, must translate into tangible outcomes such as expanded credit to MSMEs, enhanced financing for marginalized groups, and greater investment in technology-driven solutions that improve financial inclusion.
The CBN’s recapitalization directive, which set new minimum capital requirements, aims to strengthen the capacity of Nigerian banks to withstand global shocks and remain competitive in an increasingly volatile economic environment. The new requirements are ₦500 billion for international banks, ₦200 billion for national banks, and ₦50 billion for regional banks.
The CBN Deputy Governor emphasized that the recapitalization policy is a bold statement of ambition and resilience rather than a mere regulatory directive.
In his opening remarks, President of ACAMB, Mr. Rasheed Bolarinwa, said the recent recapitalization exercise is a catalyst for Nigerian banks to become stronger, more trusted, and inclusive institutions that can support the country’s ambition of a $1 trillion economy.
Bolarinwa noted that beyond balance sheet growth, the real value lies in brand resilience and expanding financial inclusion for MSMEs, women-led enterprises, and the unbanked in rural areas.
He urged participants to approach the retreat with renewed enthusiasm, open minds, and a collaborative spirit.
The retreat is designed to provide a platform for high-level knowledge sharing, masterclasses, and networking opportunities.
Participants later engage in plenary and breakout sessions, visit the Olusegun Obasanjo Presidential Library complex, and take part in a serene boat ride, among other activities.
The ACAMB President expressed gratitude to the sponsors, organizing committee, facilitators, and participants for making the event a success. He emphasized that the retreat is a movement to redefine the industry narrative, strengthen professional bonds, and reinforce the voice of Nigerian banking.
The retreat brought together policymakers, banking professionals, and industry experts to discuss the future of the banking sector.
