The Nigerian banking sector is entering a decisive phase as the March 31, 2026 deadline set by the Central Bank of Nigeria for bank recapitalisation approaches. Recent reports show that 31 banks have already met the new minimum capital requirements, leaving only a few institutions still undergoing regulatory verification. The recapitalisation programme, which began in 2024 under CBN Governor Olayemi Cardoso, is designed to strengthen Nigeria’s banking system, increase resilience against economic shocks, and position banks to finance large scale investments in infrastructure and industry. This reform is one of the most significant banking sector overhauls since the 2004 consolidation carried out by former CBN Governor Charles Soludo, which reduced the number of banks from 89 to 25.