Foreign investors drive Nigeria’s bank recapitalisation as confidence rebounds
From Damian Duruiheoma, Enugu Fresh signs of renewed investor confidence in Nigeria’s financial system have emerged, with about 28 per cent of ongoing bank recapitalisation investments sourced from foreign investors,
From Damian Duruiheoma, Enugu
Fresh signs of renewed investor confidence in Nigeria’s financial system have emerged, with about 28 per cent of ongoing bank recapitalisation investments sourced from foreign investors, the Central Bank of Nigeria (CBN) has disclosed.
The development, unveiled during the CBN Special Day at the 37th Enugu International Trade Fair, highlights a growing international vote of confidence in Nigeria’s reform-driven financial sector.
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Speaking at the event, the Acting Director of Corporate Communications and Investor Relations at the apex bank, Mrs. Sidi Ali Hakama, said the recapitalisation exercise due to close March 31, 2026, is progressing steadily, with 34 banks already meeting the new capital thresholds.
She stressed that the level of foreign participation is a strong endorsement of ongoing reforms. “About 28 per cent of recapitalisation investments are coming from foreign sources, reflecting renewed confidence in Nigeria’s financial system,” she said.
Hakama attributed the renewed confidence to sweeping reforms under the leadership of Olayemi Cardoso, particularly in the foreign exchange market.
According to her, “the reforms have increased transparency and liquidity in the FX market, with a new FX manual removing many restrictive capital controls and simplifying trade and investment procedures.”
