Citibank Nigeria Meets CBN’s ₦200bn Recapitalisation Target.

Citibank Nigeria says meeting CBN’s recapitalisation target strengthens its capacity to support infrastructure, energy, and trade financing.

Citibank Nigeria Limited (Citi) has announced that it has successfully met the Central Bank of Nigeria’s (CBN) new N200 billion minimum capital requirement for national commercial banks, underscoring its long-term commitment to Nigeria’s economic transformation and financial stability.

The move places Citi among the first international banks in Nigeria to fully comply with the CBN’s recapitalisation directive ahead of schedule. It also reinforces the institution’s strategic commitment to deepening its footprint in Africa’s largest economy through expanded financing in key growth sectors.

Speaking on the development, Managing Director and Chief Executive Officer of Citibank Nigeria Limited, Mrs. Nneka Enwereji, described the milestone as both an affirmation of confidence in the Nigerian economy and a demonstration of Citi’s enduring partnership with the country.

“Meeting the CBN’s N200 billion capital requirement is more than compliance – it is a statement of confidence in Nigeria’s future and a deliberate investment in its next chapter of growth. For 41 years, we have partnered with Nigeria’s governments, banks, corporations, and communities. With a strengthened balance sheet, Citi is ready to expand support for clients across priority sectors including infrastructure, energy and trade. Citi has a legacy of pioneering innovative solutions in Nigeria and this investment will help expand digital innovation and payment solutions, while advancing social finance initiatives aligned with national development priorities.” 

Source: Arisetv