By Seun Ibiyemi
FCMB Group Plc has announced the successful completion of a major capital raise programme undertaken for its banking subsidiary, First City Monument Bank Ltd, as part of efforts to meet new regulatory capital requirements.
The group disclosed this in a corporate filing signed by its Group Chief Executive Officer, Ladi Balogun, and submitted to the Nigerian Exchange Limited on Monday in Lagos.
Balogun said the group had secured all necessary regulatory approvals for the transactions from the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and the National Pension Commission (PenCom).
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According to him, the approvals cover the group’s 2025 Public Offer as well as the minority divestment of shares in its pensions subsidiary, FCMB Pensions Ltd.
He explained that the 2025 Public Offer generated approximately N231.8 billion in gross proceeds, while the sale of about 10 per cent of the issued share capital of FCMB Pensions Ltd. raised an additional N11 billion.
Balogun noted that the combined proceeds from the two transactions would enable the bank to meet the revised N500 billion minimum capital requirement for an international banking licence set by the Central Bank of Nigeria.
He added 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.
“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,” the statement said.
Balogun also expressed appreciation to regulators, investors and other stakeholders for their support in helping the group achieve the milestone.
