In a move aimed at stabilising the financial sector and phasing out pandemic-related reliefs, the Central Bank of Nigeria (CBN) has mandated that all banks submit a detailed Capital Restoration Plan within 10 working days following the end of each quarter, starting from June 30, 2025.
These plans must outline how banks will achieve full regulatory compliance, including strategies for cost reduction, asset quality enhancement, potential risk transfers, and adjustments to long-term business strategies.
This directive, outlined in a circular signed by Dr. Olubukola Akinwunmi, the Director of Banking Supervision, is part of the CBN’s strategy to conclude the regulatory forbearance measures introduced during the COVID-19 pandemic. The circular also announced the cessation of all COVID-19-related regulatory waivers on Single Obligor Limits, effective June 30, 2025, to restore sensitivity in credit classification and provisioning.