FCMB Group completes capital raise programme for banking subsidiary
FCMB Group Plc has announced the successful completion of a capital raise programme undertaken for its banking subsidiary, First City Monument Bank Ltd.
The group disclosed this in a corporate disclosure signed by its group chief executive officer, Ladi Balogun, and released to the Nigerian Exchange Ltd. on Monday in Lagos.
Mr Balogun said the group had received all necessary approvals from regulatory authorities, including the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and National Pension Commission (PenCom).
According to him, the approvals cover the 2025 public offer and the minority divestment of shares in the group’s pensions subsidiary.
He said the 2025 public offer raised about N231.8 billion in gross proceeds, while the minority divestment of approximately 10 per cent of the issued share capital of FCMB Pensions Ltd generated an additional N11 billion.
Mr Balogun noted that the combined proceeds from the two transactions provide sufficient capital for the bank to meet the revised minimum capital requirement of N500 billion for an international banking licence set by the Central Bank of Nigeria.
He explained that the bank’s verified eligible capital, comprising paid-up share capital and share premium, stood at N266.5 billion as of December 31, 2025.
The statement reads, “Together, 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.”
He expressed appreciation to regulators, investors, and other stakeholders for their support in achieving the milestone.
(NAN)
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