FCMB Group Plc has officially announced the successful completion of the capital raise programme undertaken for its banking subsidiary, First City Monument Bank Limited.
In a statement signed by the Group Chief Executive, Mr. Ladi Balogun, and sent to the Nigerian Exchange on Monday, the Group confirmed it has received all requisite approvals from the Central Bank of Nigeria, the Securities and Exchange Commission, and the National Pension Commission.
The capital injection was achieved through two primary financial instruments, including the 2025 Public Offer, which raised approximately N231.8bn in gross proceeds, and a minority divestment of approximately 10 per cent of the issued share capital of FCMB Pensions Limited, which raised an additional N11.0bn.
These transactions were instrumental in bridging the gap to meet the stringent new regulatory benchmarks set by the apex bank for lenders operating with international authorization.
According to the Group Chief Executive, the combined financial effort has solidified the bank’s standing in the industry.
“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,” Balogun stated.
This achievement is underpinned by a verified eligible capital base, consisting of paid-up share capital and share premium, which stood at ₦266.5 billion as of 31 December 2025.
The successful completion of this programme marks a significant milestone for the financial institution as it seeks to maintain its competitive edge and global reach.
Reflecting on the collaborative effort required to reach this goal, the statement noted that “FCMB Group expresses its sincere appreciation to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone.” With this capital buffer, the bank is now positioned to continue its expansion and support for the Nigerian economy under its international banking status.
