Standard Chartered Bank Nigeria Limited says it has successfully met the Central Bank of Nigeria (CBN) minimum capital requirement of ₦200 billion for national commercial banks, ahead of the regulatory deadline.
This achievement highlights the Bank's strong financial foundations and strong commitment to contribute deeply to Nigeria's economic growth and financial stability.
By meeting the capital requirement ahead of schedule, Standard Chartered reaffirms its strategic focus on deepening its presence in Nigeria, one of its most important African markets, through committed investment, strong capital base, strong and sustainable balance sheet and value enhancing financing to support clients leading growth in key sectors that drive national productivity.
Dalu Ajin, Chief Executive Officer, Standard Chartered Bank Nigeria Limited, said, “The timely completion of the CBN's recapitalization directive underlines our unwavering confidence in the resilience and potential of the Nigerian economy. This achievement reaffirms Standard Chartered's enduring partnership with Nigeria and our strong commitment to foster sustainable growth, support customers and play a key role in Nigeria's financial and economic transformation.”
With over 170 years of distinguished global heritage in Africa and 26 years of dedicated service in Nigeria, Standard Chartered Bank Nigeria Limited continues to combine its global expertise with local insight to deliver innovative banking solutions that empower individuals, businesses and communities to prosper.
Dayo Omolokun, Executive Director and Chief Financial Officer, said: “The recapitalization of Standard Chartered Bank Nigeria Limited ahead of the March 2026 deadline reinforces the Group’s commitment to Nigeria as an important and strategic market on the African continent. Since returning to Nigeria to set up a wholly owned subsidiary in 1999, the Bank has supported clients and customers with billions of dollars of structured financial solutions, including Combining differentiated cross-border capabilities with leading wealth management expertise.
“This new capital infusion will enable the Bank to do more, especially towards the achievement of a $1 trillion economy by 2031, as envisioned by President Bola Ahmed Tinubu.”
