Central Bank of Nigeria (CBN) Governor Olayemi Cardoso has reaffirmed that the regulator will maintain stringent supervision of the banking sector, notwithstanding the successful completion of the recent bank recapitalisation exercise.

Speaking at the BusinessDay 14th Annual CEO Forum, Cardoso emphasised that continuous oversight is essential to ensure long-term stability and resilience within the financial system. The recapitalisation programme, which raised between N4 trillion and N5 trillion, was designed to fortify banks against economic shocks and support their expansion across Africa and international markets.

Cardoso noted that while banks have initially prioritised investment in government securities, he expects lending to the real sector to expand as inflation and interest rates moderate. He cautioned banks against indiscriminate lending, urging them to prioritize sophisticated risk management practices to protect depositors’ funds. The CBN remains committed to working with lenders to enhance their capacity for assessing complex lending opportunities. The recapitalisation exercise was concluded in March 2026, with 33 banks successfully meeting the new capital requirements.