Parallex Bank Meets CBN Capital Requirement Ahead of Recapitalisation Deadline
Parallex Bank Limited has announced that it has successfully met the capital requirement set by the Central Bank of Nigeria (CBN), surpassing the ₦50 billion minimum capital threshold required for regional commercial banks as the industry approaches the regulatory recapitalisation deadline.
The milestone places Parallex Bank among financial institutions that have complied with the apex bank’s directive aimed at strengthening the financial resilience of Nigeria’s banking sector and improving the ability of lenders to support economic growth.
The recapitalisation policy forms part of a broader reform agenda introduced by the CBN in March 2024, requiring banks to significantly increase their capital base depending on the scope of their operating licences. Under the framework, regional commercial banks must maintain a minimum capital base of ₦50 billion, while national and international banks face higher thresholds. The directive comes with a final compliance deadline of March 31, 2026.
According to the bank, achieving the capital requirement reinforces its financial strength and positions it to expand operations across Nigeria’s competitive banking landscape. By exceeding the regulatory benchmark, the lender gains additional capacity to increase credit to businesses, deepen financial inclusion, and broaden its suite of financial products and services.
Speaking on the development, Parallex Bank’s Managing Director, Dr. Olufemi Bakre, described the achievement as the result of disciplined strategy and long-term commitment to building a resilient banking institution. He noted that maintaining a strong capital base has become increasingly critical in a rapidly evolving financial environment where banks must continually strengthen their balance sheets to support growth and withstand economic shocks.
For Parallex Bank, meeting the requirement ahead of the deadline signals its readiness to compete in a more capitalized and competitive banking environment. The bank is expected to leverage its stronger balance sheet to scale operations, improve service delivery, and deepen its contribution to Nigeria’s economic development.
With the recapitalisation milestone achieved, management says the institution will now focus on expanding its market presence, strengthening customer engagement, and positioning the bank for sustainable long-term growth within the evolving financial services landscape.
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