Nigeria banking sector reforms aim to boost financial inclusion and microfinance
The Chartered Institute of Bankers of Nigeria (CIBN) installed Dele Alabi as its 24th President and Chairman on 16 May 2026, unveiling his “IMPACT” Vision centred on six pillars that include gender and geographic inclusion, professional standards and technology. In a courtesy visit, CIBN and the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) urged banks to deepen women’s empowerment, financial inclusion and support for micro, small and medium‑enterprise owners.
The Central Bank of Nigeria (CBN) announced a comprehensive recapitalisation programme in March 2024, setting new minimum paid‑up capital thresholds – ₦500 billion for international commercial banks, ₦200 billion for national commercial banks, ₦50 billion for regional commercial banks and merchant banks, and lower caps for non‑interest banks. The reforms are presented as a strategic investment to reinforce stability, broaden credit access and underpin a more inclusive economy, with revised requirements also applied to microfinance banks.
Meanwhile, Dr Adenrele Oni, president of the National Association of Microfinance Banks (NAMB), called on the Federal Government for greater financial backing and a more enabling regulatory framework to allow microfinance institutions to extend affordable loans to underserved Nigerians and to sustain the sector’s rapid growth – from a balance‑sheet of under N300 billion five years ago to over N6 trillion today.
Entities: Central Bank of Nigeria · Chartered Institute of Bankers of Nigeria · Dele Alabi · Dr Adenrele Oni · National Association of Microfinance Banks
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] The CBN introduced revised capital requirements specifically for microfinance banks. (CBN policy update)
- [○ 1 SOURCE] NAMB President Dr Adenrele Oni called on the Federal Government for stronger financial backing and a more enabling regulatory environment for microfinance banks. (NAMB President statement)
- [○ 1 SOURCE] The recapitalisation programme aims to strengthen financial stability, expand credit access and support an inclusive economy. (CBN recapitalisation policy)
- [○ 1 SOURCE] The Central Bank of Nigeria set new minimum paid‑up capital requirements of ₦500 billion for international commercial banks, ₦200 billion for national commercial banks, and ₦50 billion for regional‑or (CBN recapitalisation announcement March 2024)
- [○ 1 SOURCE] The microfinance sector’s total balance sheet grew from under N300 billion five years ago to over N6 trillion now. (NAMB conference data)
- [○ 1 SOURCE] CIBN and ACAMB called on banks to prioritize women’s empowerment, financial inclusion and MSME support. (CIBN‑ACAMB joint statement)
- [○ 1 SOURCE] Dele Alabi was installed as the 24th President and Chairman of the Chartered Institute of Bankers of Nigeria on 16 May 2026. (CIBN investiture)
- [○ 1 SOURCE] Alabi’s IMPACT Vision includes six pillars: inclusion, membership growth, professionalism, accountability, competencies, and technology. (CIBN vision)