FCMB Group said it has met the required capital for international banking license as required by the Central Bank of Nigeria (CBN), following the completion of its capital raising initiative through which it raised N242.8 billion.
With the additional capital raised from the public offer as well as divestment from its pension business, the banking group said its capital base now exceeds the N500 billion minimum capital which banks with international license must have before March 31, 2026.
According to the group chief executive of FCMB Group, Ladi Balogun, the 2025 Public Offer, had raised approximately N231.8 billion in gross proceeds; and the minority divestment of approximately 10 per cent of the issued share capital of FCMB Pensions Limited, which raised an additional N11.0 billion.
“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. This is based on verified eligible capital (paid-up share capital and share premium) of
N266.5 billion as at 31 December 2025.
“FCMB Group expresses its sincere appreciation to the regulatory authorities, investors, and
other stakeholders for their continued support in achieving this important milestone.”
He further noted that the Group has received requisite approvals from the relevant regulatory authorities including the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the National Pension Commission (PenCom) in respect of the capital raised.
