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Ngerian banks have raised N1.7 trillion in the first phase of the Central Bank of Nigeria’s (CBN) recapitalization drive.
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The development has contributed to a strong start for Nigeria’s banking sector in 2025, with the NGX Banking Index surging by 9.76% in January.
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Financial experts expect the momentum to continue, with the recapitalization drive expected to deepen market liquidity and enhance financial stability
Nigerian banks have successfully raised N1.7 trillion in the first phase of the Central Bank of Nigeria’s (CBN) recapitalization drive.
This development has contributed to a strong start for Nigeria’s banking sector in 2025.
According to a corporate report obtained from the Nigerian Exchange Group, the NGX Banking Index surged by 9.76% in January.
Wema Bank Plc led the gainers with a 25.8% increase, pushing its share price from N9.10 to N11.45. FCMB Group Plc followed with a 17.55% rise, closing at N11.05 from N9.40.
Financial experts expect the momentum to continue, with the recapitalization drive expected to deepen market liquidity and enhance financial stability.
“As Nigeria’s banking industry moves towards compliance with the CBN’s new capital framework, the ongoing recapitalization drive is expected to deepen market liquidity, enhance financial stability, and sustain long-term growth in the sector,” said Managing Director of Arthur Steven Asset Management, Olatunde Amolegbe.
Nigerian banks have successfully raised N1.7 trillion in the first phase of the Central Bank of Nigeria’s (CBN) recapitalization drive.
This development has contributed to a strong start for Nigeria’s banking sector in 2025.
According to a corporate report obtained from the Nigerian Exchange Group, the NGX Banking Index surged by 9.76% in January. Wema Bank Plc led the gainers with a 25.8% increase, pushing its share price from N9.10 to N11.45. FCMB Group Plc followed with a 17.55% rise, closing at N11.05 from N9.40.
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Financial experts expect the momentum to continue, with the recapitalization drive expected to deepen market liquidity and enhance financial stability.
“As Nigeria’s banking industry moves towards compliance with the CBN’s new capital framework, the ongoing recapitalization drive is expected to deepen market liquidity, enhance financial stability, and sustain long-term growth in the sector,” said Managing Director of Arthur Steven Asset Management, Olatunde Amolegbe.
CBN Approves CFA Franc Listing on Nigeria Export Proceeds Forms
The Nigeria Export Promotion Council (NEPC) has confirmed that the Central Bank of Nigeria (CBN) has approved the inclusion of the CFA Franc on Nigeria Export Proceeds (NXP) forms.
Mrs. Nonye Ayeni, Executive Director of the NEPC, disclosed this while addressing newsmen on the Non-Oil Export Performance for the year 2024 in Abuja on Friday.
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