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The CBN has reportedly given three banks an additional three weeks to complete their recapitalisation plans due to ongoing legal and regulatory issuesThe three banks are exploring options such as raising fresh capital or pursuing mergers and acquisitions to meet the new capital requirementsThe CBN said 33 banks successfully met the March 31, 2026, recapitalisation deadline, raising a total of N4.65 trillion in new capital
Legit.ng journalist Victor Enengedi has over a decade’s experience covering energy, MSMEs, technology, banking and the economy.
Three banks currently under regulatory management — Union Bank, Polaris Bank and Keystone Bank — may have received additional time from the Central Bank of Nigeria (CBN) to complete their recapitalisation plans, according to sources familiar with the development.
The extension reportedly provides the affected institutions with a three-week regulatory window to address outstanding capital requirements and explore available options under the banking sector recapitalisation programme.
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