•Strengthens capacity to expand financing in infrastructure, energy, trade, and digital innovation.
Citibank Nigeria Limited (Citi) on Thursday announced that it had successfully met the Central Bank of Nigeria’s (CBN)’s new minimum capital requirement of N200 billion for national commercial banks.
In a statement seen By BusinessDay, the bank said the achievement reinforces its enduring commitment to Nigeria’s financial sector and economic growth.
Nneka Enwereji, MD/CEO of Citibank Nigeria Limited, stated, “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.”
Citi has consistently acted as a trusted conduit for foreign direct investment, actively showcasing Nigeria’s robust reform momentum to global investors. Leveraging its extensive international network, the bank connects Nigerian institutions with global capital, convening senior policymakers and corporates to explore opportunities in trade, industry and cross-regional capital flows.
The bank has been instrumental in shaping a deeper, more resilient financial market that fosters sustainable growth.
Speaking on the importance of the milestone, Ebru Pakcan, head of Middle East and Africa at Citi, said: “As one of Africa’s largest and most dynamic economies, Nigeria has consistently demonstrated resilience and opportunity. This milestone reflects the strength of our franchise
and reinforces our long-term commitment to supporting Nigeria’s growth and connecting
clients to opportunities across our global network.”
Reflecting on the achievement, Mahmoud Isa-Dutse, chairman of the board, Citibank Nigeria Limited, added: “This milestone highlights both our financial strength and our dedication to
sustainable growth. Citi has consistently played a central role in Nigeria’s financial system, and this recapitalisation further enhances our capacity to support clients, investors, and the broader economy. We remain steadfast in positioning Nigeria as a key destination for global capital.”
Citi’s vision is to be the pre-eminent bank for clients with cross-border needs. With over 200
years of global leadership in financial services and dedicated in-country teams in over 90 fully
licensed banking operations worldwide, the bank combines global perspective with local
expertise to help clients navigate challenges and capitalise on growth opportunities.
By integrating this significant capital commitment with its global reach, Citi reinforces its position as a catalyst for growth, contributing to a stronger and more dynamic landscape for Nigeria’s future.
