Business Briefings
Central Bank of Nigeria Orders Banks to Submit Forbearance and Capital Reinforcement Plans
The Central Bank of Nigeria has instructed banks to present detailed capital restoration strategies as part of efforts to transition out of the regulatory forbearance regime. This directive was disclosed in a circular signed by the Director of Banking Supervision, Olubukola Akinwunmi.
According to the CBN, affected banks must submit their restoration plans within ten working days after each quarter, beginning from June 30, 2025. These plans should include management’s approaches to restoring compliance, such as cost-reduction, lowering risky assets, restructuring business operations, and offloading major risks.
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The regulator stated that these plans would be reviewed and monitored closely as part of ongoing supervision. Additionally, banks are required to provide quarterly reports detailing provisioning statuses, reconciliations, capital adequacy ratios (with and without relief measures), credit migration data, and disclosures on AT1 instruments.
The CBN emphasized that these new steps are designed to ensure financial system stability and encourage responsible banking practices as Nigeria exits the forbearance framework.
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