The Central Bank of Nigeria’s recapitalization program catapulted the Nigerian banking sector dominance to unprecedented heights.

Market growth propelled the sector’s dominance as it captured investor confidence, banking on stronger balance sheets:

The first quarter of 2026 was market-explosive after a historically unprecedented series of capital raises: The NGX All-Share Index (ASI) hit the breakthrough mark of 200,000 points for the first time in March 2026.

Meanwhile,The naira appreciated to N1,367.5/$ on 4 May 2026, extending gains recorded in April.

Data from the Central Bank of Nigeria (CBN) showed the currency strengthened in the first trading session of May after closing April at N1,374/$.

Nairametrics reported that this is the first time since 2024 that the naira closed April with a gain.