FCMB Group Plc says it has completed a capital raise programme for its banking subsidiary, First City Monument Bank Limited. The exercise is part of efforts by banks to meet the new minimum capital requirement introduced by the Central Bank of Nigeria.
In a statement signed by the Group Chief Executive, Ladi Balogun, the company said it secured approvals from the Central Bank of Nigeria, the Securities and Exchange Commission, and the National Pension Commission for the transactions.
FCMB said its 2025 public offer raised about N231.8 billion, while the sale of about 10% minority stake in FCMB Pensions Limited generated an additional N11 billion.
Also Read: FCMB Named Nigeria’s Best SME-Focused Bank for 2025 by CIBN
The group said the combined N242 billion proceeds will help the bank meet the N500 billion minimum capital requirement for banks with international licences. The Central Bank has given banks until March 31, 2026, to comply with the directive.
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