CBN takes measures to strengthen the banking sector, emission routine …

CBN takes measures to strengthen the banking sector, emits a routine transition guide

The central bank of Nigeria (CBN) has introduced temporal measures for some banks that continue to complete their transition from the temporary regulatory support provided in response to the economic impact of the Covid-19 pandemic.

According to a declaration issued by the interim director of Mrs. Hakama Sidi-Aali CBN, a corporate communication department, this is part of its continuous efforts to strengthen the banking system.

Sidi-Aal said that the step was part of the largest and sequenced strategy of the CBN to implement the recapitalization program announced in 2023.

He said that the program, designed to align the long -term growth ambitions of Nigeria, had already led to significant capital flows and strengthening the budget throughout the sector.

“Most of the banks have completed or are on the way to meet the new capital requirements well before the final implementation expiry of 31 March 2026.

“The measures apply only to a limited number of banks. These include temporary restrictions on capital distributions, such as dividends and bonuses to support the conservation of funds generated internally and support the adequacy of capital.

“All the struck banks have been formally notified and remain under a careful supervision commitment,” he said.

He said that to support a regular transition, the CBN had allowed limited flexibility linked to time
Within the capital framework, in line with international regulatory rules.

“Nigeria generally maintains risk -based capital requirements that are significantly more rigorous than the global minimums of Basel III.

“These adjustments reflect a consolidated surveillance process consistent with global standards. Regulators in the United States, Europe and other important markets have implemented similar transition measures as part of post-crisis reform efforts.

“The CBN remains fully engaged in the continuous commitment with the parties concerned during this period through the bankers’ committee, the body of CEO and other forums in the sector,” he said.

He said that the goal of guaranteeing a transparent banking sector in Nigeria has remained fundamentally strong.

According to her, these measures are neither
unusual nor reason of concern.

He said they were a continuation of the orderly and deliberate implementation of the reforms already in progress.

He said the CBN would continue to take everything
Actions necessary to safeguard the stability of the sector and guarantee a robust and resilient financial ecosystem that supports sustainable economic growth.

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