By John Moses
Zenith Bank Plc has confirmed that it has exceeded the Central Bank of Nigeria’s (CBN) newly established minimum capital requirement of ₦500 billion, and is on course to fully exit all regulatory forbearance arrangements by the end of June 2025.
The bank made the disclosure in a corporate statement filed with the Nigerian Exchange Ltd. on Tuesday, in response to a recent CBN circular (Reference No. BSD/DIR/CON/LAB/018/008), which addressed ongoing regulatory forbearance on Single Obligor Limits (SOL) and other significant credit exposures.
Zenith Bank clarified that its SOL exposure pertains exclusively to one obligor and that corrective measures are in place to align with regulatory thresholds by 30 June 2025.
The lender also stated that forbearance granted on additional credit facilities relates to just two clients, and it has already made considerable provisions in those cases.
“We are confident that this exposure will be brought within the applicable regulatory limit before the stated deadline,” the bank said in its notice. “Substantial provisioning has already been completed, with full compliance expected by the end of June.”
Upon concluding these measures, Zenith Bank will no longer be subject to any forbearance directives issued by the central bank.
The bank also reassured shareholders of its financial health and hinted that it would meet all necessary criteria to enable dividend payments within the current financial year.
This development comes amid wider regulatory reforms in Nigeria’s banking sector, as the CBN pushes for higher capital buffers to stabilise the financial system in the wake of persistent inflation, currency depreciation, and increased credit risk.
