Nigerian banks have reassured the public that the ongoing recapitalisation exercise is being conducted smoothly and poses no threat of bank closures or takeovers.

Contrary to claims circulating online, no bank is under liquidation. The Association of Corporate Communication & Marketing Professionals in Banks (ACAMB) described a viral Instagram video suggesting that 12 banks would be shut down by March 2026 as misleading and deliberately alarmist.

ACAMB emphasized that the recapitalisation initiative, approved by the Central Bank of Nigeria (CBN), is a forward-looking policy aimed at strengthening banks, not a response to financial distress. The exercise focuses on enhancing share capital and share premium, ensuring banks are well-positioned to support Nigeria’s $1 trillion economic goal by 2030.

“Contrary to false claims, Nigerian banks are safe, sound, and adequately capitalized, with strong buffers to meet both regulatory and customer obligations,” ACAMB stated. They noted that over one-third of banks have already met their recapitalisation targets, with others at advanced stages. FirstBank, UBA, Fidelity Bank, FCMB, Citibank Nigeria, Standard Chartered Nigeria, Sterling Bank, and Polaris Bank were highlighted as operationally strong and on track.

CBN Governor Olayemi Cardoso confirmed in November 2025 that the recapitalisation is progressing in an orderly and regulated manner, reaffirming the system’s stability. ACAMB urged content creators and media outlets to avoid sensationalism and report responsibly, highlighting the importance of public trust and financial stability.