Nigerian lender FCMB Group Plc (NGX:FCMB) said shareholders have approved a plan to raise up to NGN400bn ($266.7mn) in fresh capital to meet the Central Bank of Nigeria’s minimum capital requirements, according to a statement following an extraordinary general meeting held in Lagos.
The approval provides management with authority to pursue the capital raise ahead of a March 2026 regulatory deadline that affects banks operating with an international licence, the group said.
The central bank has revised minimum capital thresholds across licence categories as part of its banking-sector recapitalisation programme, requiring lenders with international licences to meet higher paid-in capital levels by March 2026. Banks that fail to comply risk licence downgrades or restructuring.
FCMB Group said the planned fundraising is intended to ensure the group meets the minimum regulatory capital threshold required for its banking subsidiary, First City Monument Bank Limited, to retain its international banking licence.
The group did not disclose the structure or timeline for the raise, or whether it will be executed through a rights issue, public offer, private placement or a combination of instruments.
Nigeria’s banking regulator has in recent months pushed lenders to pursue equity and other capital-raising options as part of a broader effort to strengthen balance sheets and support financial-system resilience.
FCMB Group Plc is a Nigeria-based financial services holding company with interests spanning commercial banking, investment banking and asset management, with First City Monument Bank Limited as its main banking subsidiary.
© 2025 bne IntelliNews, source Magazine