FCMB Group Completes N500bn Capital Requirement Ahead of Deadline

Kayode Tokede

FCMB Group Plc, has announced the successful completion of the capital raising  programme of the Central Bank of Nigeria (CBN) undertaken for its banking subsidiary, First City  Monument Bank Limited.

The Group Chief Executive, FCMB Group, Mr.  Ladi Balogun in a statement revealed that the Group received requisite approvals from the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the National Pension Commission (PenCom) – in respect of 2025 public offer, which raised approximately N231.8 billion in gross proceeds; and the minority divestment of approximately 10per cent of the issued share capital of FCMB Pensions Limited, which raised an additional N11.0 billion.

According to him, together with the public offer and minority divestment provide sufficient capital for the Bank to meet the revised N500 billion minimum capital requirement for an international banking licence. 

“This is based on verified eligible capital (paid-up share capital and share premium) of N266.5 billion as at December 31, 2025,” the statement said.  

He said the Group expressed its sincere appreciation to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone.

The recapitalisation exercise, which began in 2024, sets N500 billion for commercial banks with international authorisation, N200 billion for national banks, and N50 billion for regional banks. For non-interest banks, the thresholds are N20 billion (national) and N10 billion (regional).

The 24‑month compliance window ends on March 31, 2026, a regulation that’s triggering a wave of equity issuances, merger talks, and balance sheet restructuring across the sector.