Nigeria, June 18 -- The Central Bank of Nigeria has reaffirmed the resilience of the country's banking sector, even as it introduced temporary restrictions on dividend payouts and other capital distributions for a few banks still exiting post-pandemic regulatory support.

The bank disclosed this on Tuesday in a statement by Hakama Ali, CBN's acting director of corporate communications.

It said the measures are part of a phased strategy under the bank's ongoing recapitalisation programme, first announced in 2023, which aims to align Nigeria's financial system with long-term economic growth targets. Most banks, the CBN said, have either met or are on track to meet the new capital requirements well before the 31 March 2026 deadline.

"These...