Citibank Nigeria Fortifies Balance Sheet, Meets CBN Capital Threshold Ahead of Deadline
Lagos & Abuja, Nigeria — Citibank Nigeria Limited, the Nigerian unit of global banking giant Citigroup Inc, has successfully met the Central Bank of Nigeria’s (CBN) new minimum capital requirement of ₦200 billion — a key regulatory benchmark for national commercial banks — ahead of the March 31, 2026 deadline.
In a statement, Citi confirmed that fresh capital was injected into its Nigerian operations, bringing the bank’s paid‑up capital in line with the CBN’s directive for financial institutions to strengthen their capital bases as part of broader reforms aimed at deepening resilience in the banking sector and supporting sustainable economic growth.
What This Achievement Signals for Nigeria’s Financial Sector
Confidence in Nigeria’s Economy:
Meeting the recapitalisation threshold ahead of schedule underscores Citibank Nigeria’s long‑term confidence in the country’s financial system and its commitment to supporting growth in priority sectors like infrastructure, energy, trade and commerce.
Enhanced Capacity to Support Clients:
With a stronger capital foundation, Citi is positioned to expand lending, enhance risk‑taking capacity, and offer diversified financial solutions to both corporate and institutional clients operating across Nigeria’s dynamic economic landscape.
Alignment with Banking Sector Reforms:
The CBN’s recapitalisation policy — requiring banks to raise paid‑up capital from ₦25 billion to ₦200 billion for national banks — is designed to reinforce the stability and competitiveness of Nigeria’s banking industry and align it with global best practices. Citi’s compliance reflects regulatory trust and the institution’s ability to navigate evolving macroeconomic conditions.
Why This Matters for Nigeria’s Growth Agenda
- Financial Stability: Stronger bank capital bases reduce systemic risk and enhance the capacity of lenders to absorb shocks while maintaining credit flows.
- Credit Support for the Real Economy: Well‑capitalised banks are better able to support SME growth, infrastructure financing, trade and investment, contributing to job creation and broader economic participation.
- Investor Confidence: Early compliance with recapitalisation rules can attract more foreign and domestic investment into the financial sector and related real‑sector industries.
Citibank Nigeria’s proactive capital strengthening — coming as part of a wider drive toward a safer, more resilient Nigerian banking sector — positions the bank to play a meaningful role in advancing financial inclusion and supporting long‑term economic development.
