Signature Bank Capital Surpasses CBN’s N50bn Recapitalisation Benchmark

Kayode Tokede 

Signature Bank Limited has increased its capital base to N52 billion, exceeding the Central Bank of Nigeria’s (CBN) prescribed minimum capital requirement of N50 billion for regional commercial banks. The increase followed the successful completion of a rights issue, positioning the Bank in full alignment with the regulatory expectations under the ongoing banking sector recapitalisation exercise. Commenting on the milestone, the Chairman of Signature Bank, Tijjani Borodo, said the successful capital mobilisation reflected the confidence of shareholders and investors in the Bank’s governance structure and strategic direction.

“The successful execution of this rights issue demonstrates the strong commitment of our shareholders to the Bank’s long-term vision. With a strengthened capital foundation, we are better positioned to support enterprise development, promote inclusive growth, and deliver sustainable value to all our stakeholders,” he said.

Managing Director and Chief Executive Officer of Signature Bank, Nixon Iwedi said: “This achievement marks an important step in our growth trajectory. By strengthening our capital base, we have enhanced our ability to support larger-ticket transactions, deepen customer relationships, and accelerate innovation across our banking platforms. 

“Our expansion strategy remains focused on strengthening our presence across key trade centres, and other emerging growth corridors”.