Greenwich Merchant Bank Achieves N50bn Capitalisation Milestone

Kayode Tokede

Greenwich Merchant Bank has announced that it has successfully met the N50billion capital requirement as mandated by the Central Bank of Nigeria (CBN).

By virtue of a letter dated September 22, 2025, CBN confirmed its approval of Greenwich’s N22.6billion fresh Capital raised via Rights Issue and Private Placement.

With this, the Bank’s approved capital now exceeds the N50billion regulatory requirement thus cementing its position as one of Nigeria’s most forward-looking banks.

Speaking on the achievement,  Chairman of Greenwich Group, Mr. Kayode Falowo, in a statement   said: “This is a significant milestone in our growth journey and a strong testament to the resilience and commitment of everyone across the organization. It positions us strategically for the next phase of our expansion and service delivery.We would like to thank our shareholders for their trust in us and applaud the outstanding contributions of our Board and Management in attaining this milestone. We are committed to driving even greater achievements in the future.”

Commenting, the Managing Director/CEO of Greenwich Merchant Bank, Mr. Benson Ogundeji, noted: “Our successful capital raise is not just a regulatory compliance milestone; it is a proof of the confidence our shareholders place in our vision and the trust our clients and partners have built with us over the years.

“At Greenwich, we see this achievement as a springboard for strengthening our capacity to deliver innovative financial solutions while contributing meaningfully to Nigeria’s economic growth and stability.”

This milestone comes at a critical time for the Nigerian financial system as banks across the country step up capitalization efforts to enhance stability, protect stakeholders, and deepen the resilience of the sector.