In 2026, Nigeria’s banking industry is expected to enter a forced round of mergers and acquisitions, as lenders scramble to meet the Central Bank of Nigeria’s (CBN) recapitalisation deadline.
According to SBM Intelligence, consolidation will be a defining feature of the banking landscape in 2026, driven largely by capital shortfalls across parts of the sector.
The firm noted in its 2026 Outlook Report that “a forced round of mergers and acquisitions will occur due to the banking recapitalisation deadline, with some banks failing to meet requirements.”