FCMB Group Plc announces verified capital of N288.96bn, advancing toward the Central Bank of Nigeria’s N500bn minimum for international banking

FCMB Group Plc has reached a significant milestone in its recapitalisation drive, reporting a verified capital base of N288.96bn as it moves closer to meeting the Central Bank of Nigeria’s (CBN) N500bn minimum requirement for international banking licences.

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The announcement follows a two-phase strategic fund-raising exercise designed to strengthen the Group’s balance sheet.

Phase 1 of the public offer raised N147.5bn, while Phase 2 contributed an additional N160bn.

The total capital will now undergo final verification by the CBN, a mandatory step before the 31 March 2026 deadline.

Speaking on the achievement, Ladi Balogun said:

“The additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth. We will invest in human capital and technology, support our international expansion, and reduce high-cost deposits.”

Analysts have praised FCMB’s proactive recapitalisation strategy, noting that it positions the bank to deliver stronger dividends and outperform the market.

Should the CBN verification reveal any remaining shortfall, the Group is prepared to execute a Private Placement to instantly secure the required funds.

The expanded capital base is expected to enhance FCMB’s operational capabilities, enabling larger corporate lending and more complex cross-border transactions. A Group representative highlighted:

“Together, the public offer and minority divestment provide sufficient capital for the bank to meet the revised N500bn minimum capital requirement. This is based on verified eligible capital of N266.5bn as of late 2025, now climbing toward our final goal.”

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As the March deadline approaches, all eyes remain on the CBN’s headquarters in Abuja. For FCMB, final approval will not only signal regulatory compliance but also mark the bank’s readiness for further international expansion.