Parallex Bank Misses CBN Recapitalisation Deadline

Parallex Bank failed to secure final recapitalisation approval when the Central Bank of Nigeria closed its capital upgrade programme on March 31, 2026. According to a joint statement from the CBN’s Banking Supervision and Corporate Communications directors, 33 banks met the revised minimum capital requirements. Parallex and around nine other institutions missed the deadline due to ongoing regulatory and judicial procedures. The recapitalisation drive raised N4.65 trillion in fresh capital, with 72.55 percent coming from local investors and 27.45 percent from international backers. The CBN said this lifted capital adequacy ratios above international Basel benchmarks. Despite its setback, Parallex Bank remains fully operational. Industry observers warn the bank may face heightened supervisory scrutiny and strategic realignment as it navigates remaining regulatory processes.

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