Recapitalisation Deadline: ACAMB Lauds Banking Sector Resilience

The Association of Corporate Affairs Managers of Banks (ACAMB) has commended the Nigerian banking industry for its strength, capacity and resilience following its enviable compliance ahead of the March 31 recapitalisation deadline.

With over 96% compliance, the association applauded the disciplined execution of the exercise by all financial institutions and extended special praise to the Central Bank of Nigeria (CBN) for its regulatory oversight. 

Commenting on the development, ACAMB President Jide Sipe lauded the collective effort of stakeholders and the regulator’s foresight, and noted that the high level of compliance underscores the sector’s stability and its commitment to building a more robust financial system that can support Nigeria’s economic growth ambitions.

“The Nigerian banking industry has once again demonstrated its innate strength and resilience. Achieving over 96% compliance ahead of the recapitalisation deadline is no small feat; it is an indication of the capacity of our financial institutions to adapt and overcome,” Sipe said. “We commend the CBN for its visionary leadership, particularly under Governor Cardoso, whose bold reforms are reshaping the financial landscape.” Sipe also congratulated the Central Bank of Nigeria on its recent recognition as “Central Bank of the Year 2026” by the London-based Central Banking Awards Committee, a prestigious honour bestowed at a global gathering of central banks.

“As we celebrate this progress and the well-deserved ‘Central Bank of the Year’ award, we respectfully urge the regulator to continue its support for all institutions, ensuring that no one is left behind and that the stability and interconnectedness of our financial system remains unbroken,” he added.