Standard Chartered Bank Nigeria Limited (StanChart) has successfully met the Central Bank of Nigeria’s (CBN) N200 billion minimum capital requirement for national commercial banks, accomplishing the milestone well ahead of the regulatory deadline.

In a statement, the bank described this achievement as a reflection of its strong financial foundation and unwavering commitment to contributing to Nigeria’s economic growth and financial stability.

CEO Dalu Ajene said:

“Delivering on the CBN’s recapitalization directive ahead of schedule underscores our confidence in the resilience and potential of the Nigerian economy. It reaffirms Standard Chartered’s enduring partnership with Nigeria and our commitment to sustainable growth, supporting clients, and driving economic transformation.”

Executive Director and CFO, Dayo Omolokun, added that the early recapitalization highlights the bank’s dedication to Nigeria as a strategic African market and strengthens its capacity to provide value-enhancing financing to clients across key sectors.

Since establishing a wholly owned subsidiary in Nigeria in 1999, StanChart has provided structured financial solutions worth billions of dollars, combining global expertise with local insights. The new capital base is expected to support initiatives aligned with Nigeria’s vision of a $1 trillion economy by 2031.

With over 170 years of heritage in Africa and 26 years in Nigeria, Standard Chartered continues to leverage its international experience to deliver innovative banking solutions that empower individuals, businesses, and communities.