Citi Increases its Capital in Nigeria, Meeting the Central Bank of Nigeria N200 billion Capital
Requirement and Reinforcing its Commitment to Nigeria’s Future.
Key Highlights:
• Citibank Nigeria Limited (Citi) meets the Central Bank of Nigeria’s (CBN) N200 billion
capital requirement for national commercial banks.
• Underscores Citi’s 41-year presence in Nigeria as a trusted advisor and growth partner.
• Strengthens Citi’s capacity to expand financing in critical sectors: infrastructure,
energy, trade, and digital innovation.
• Deepens Citi’s commitment to sustainable and inclusive growth within Nigeria.
• Enhances Citi’s role as a key facilitator of foreign direct investment.
Lagos – Citibank Nigeria Limited (Citi) has today announced that it has successfully met the
Central Bank of Nigeria’s (CBN) new minimum capital requirement of N200 billion for national
commercial banks. This achievement reinforces Citi’s enduring commitment to Nigeria’s
financial sector and economic growth.
Mrs. Nneka Enwereji, MD/CEO of 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 crossregional 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, Dr. 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 recapitalization 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 capitalize 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
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth
management and a valued personal bank in its home market of the United States. Citi does business in
more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions
and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | X: @Citi | LinkedIn:
www.linkedin.com/company/citi | YouTube: www.youtube.com/citi |
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Media Contact:
Lola Oyeka
0810 543 4968
lola.oyeka@citi.com
