Foxxymobile Recap Race Report — 200 Days to Deadline

Deadline check: by March 31, 2026, CBN wants banks sitting on ₦4.1trn recap funds (₦500bn intl, ₦200bn national, ₦50bn regional). Already, ₦2.8trn raised. The scoreboard now looks like this

Winners (Capital Adequacy Secured)

These banks have met their recap thresholds and are already compliant:

Access Holdings — balance sheet strengthened, fully compliant.

Zenith Bank — robust capital buffer, comfortably above requirement.

GTBank (GTCO) — parent injection pushed it over ₦500bn mark.

Ecobank Nigeria — recap position secured.

Wema Bank — first mover, recapitalisation completed.

Jaiz Bank — Islamic lender, regulatory capital already locked in.

Lotus Bank — regional licence, ₦50bn+ secured.

Providus Bank — recap threshold cleared; merger adds scale.

Stanbic IBTC — strong liquidity, international licence secured.

Greenwich Merchant Bank — merchant bank capital already in place.

Premium Trust Bank — early compliance strategy, capital buffer intact.

Still Chasing (Capital Raising in Progress)

Banks still building buffers or finalising offers:

UBA — ₦500bn target in sight; rights issue extended to Sept 19.

Fidelity Bank — ₦270bn raised; strong momentum toward national licence.

FCMB — ₦144.6bn raised; selling subsidiaries + offshore placements to close gap.

SterlingNG — capital raising moves underway; confirmation pending.

Unity Bank — merger with Providus approved; combined entity still needs additional capital for national threshold.

First Bank (FBNH) — in fund-raising mode; market watching next move (rights issue vs asset injection).

Foxxymobile Insider Take

11 banks are now compliant — a strong signal for system stability.

Tier-2 banks (Fidelity, FCMB, Sterling, Wema) are moving fast with rights issues, placements, and strategic divestments.

Mergers like Unity–Providus highlight the survival tactics for weaker players.

Expect shareholder dilution, private placements, and possible consolidations as the recap deadline approaches.

Anonymous

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Foxxymobile Recap Race Report — 200 Days to Deadline

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