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, reaffirming its long-term commitment to Nigeria’s financial stability and economic transformation.
With this achievement, Citi becomes one of the first international banks in Nigeria to fully comply with the CBN’s recapitalisation directive ahead of schedule. The milestone reflects the bank’s strategic intent to strengthen its presence in Africa’s largest economy and expand financing in critical growth sectors.
In a statement, the Managing Director and Chief Executive Officer of Citibank Nigeria Limited, Mrs. Nneka Enwereji, described the development as a strong vote of confidence in Nigeria’s 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,” Enwereji said. “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.”
She added that the recapitalisation would also enable the bank to deepen its investments in digital innovation, payment solutions, and social finance initiatives aligned with Nigeria’s development goals.
Over the years, Citibank has positioned itself as a key partner in attracting foreign direct investment (FDI) into Nigeria, leveraging its global network to connect local institutions with international capital. The bank has also played a significant role in fostering dialogue between policymakers and corporate leaders to promote trade, industry, and cross-border capital flows.
Through these efforts, Citi continues to contribute to building a stronger, more resilient financial market that supports sustainable economic growth in Nigeria.
