Nigeria’s banking sector has entered a new phase of strength following the just-concluded recapitalisation drive, led by the Central Bank of Nigeria under Governor Olayemi Cardoso. CHIMA NWOKOJI examines how over N4.61 trillion raised has positioned banks to expand lending, support businesses, and drive the Federal Government’s $1 trillion economy target. Nigeria’s banking sector has entered a defining moment following the successful completion of a far-reaching recapitalisation exercise, led by the Central Bank of Nigeria under Governor Olayemi Cardoso. With more than ₦4.6 trillion raised by over 30 financial institutions, industry stakeholders say the reform has laid a strong foundation for banks to expand lending, support businesses, and play a central role in achieving the Federal Government’s ambitious $1 trillion economy target by 2031. What began in November 2023 as a policy announcement has now matured into one of the most consequential financial sector reforms in ...