FCMB Completes N500 Billion Recapitalisation
“Together, the public offer and minority divestment provide sufficient capital for the Bank to meet the revised ₦500 billion minimum capital requirement for an international banking licence,” said Ladi Balogun, CEO of FCMB Group Plc.
The completion of the N500 billion capital raise marks a significant achievement for FCMB Group Plc, which has been working towards this goal to ensure compliance with regulatory requirements set by the Central Bank of Nigeria.
The capital raise was accomplished through a public offer that generated approximately N231.8 billion in gross proceeds, alongside an additional N11.0 billion raised from the minority divestment of FCMB Pensions Limited.
Prior to this successful capital raise, FCMB Group had initially announced plans to raise N340 billion in 2024, which evolved into targets of N370 billion in 2025 and N400 billion by November 2025.
As of December 31, 2025, FCMB’s verified eligible capital stood at N266.5 billion, necessitating the recent recapitalisation to meet the minimum capital requirement for an international banking licence.
In addition to the capital raise, FCMB Group reported a pre-tax profit of N200.91 billion for the year ended December 31, 2025, with profit after tax soaring by 141.7% to N176.91 billion compared to the previous year.
The recapitalisation deadline set by the Central Bank of Nigeria is March 31, 2026, and as of March 6, 2026, thirty banks have successfully met the new minimum capital requirements.
FCMB Group has expressed its gratitude to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone.
Looking ahead, the successful completion of this recapitalisation positions FCMB Group to enhance its operations and expand its services in the competitive banking sector.
With the necessary approvals from the Central Bank of Nigeria, the Securities and Exchange Commission, and the National Pension Commission secured, FCMB is set to move forward with its strategic plans.