The capital raise programme of FCMB Group Plc for the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and its pension business, FCMB Pensions Limited, has been concluded.
The financial services group confirmed this development in a statement filed with the Nigerian Exchange (NGX) Limited on Monday.
In the notice signed by the chief executive of the organisation, Mr Ladi Balogun, it was disclosed that the requisite approvals have been received from the relevant regulatory authorities.
These regulators include the Central Bank of Nigeria (CBN), the National Pension Commission (PenCom), and the Securities and Exchange Commission (SEC).
The banking segment of FCMB Group operates with an international licence and is required to have a capital base of N500 billion.
In the disclosure today, FCMB said it has met this minimum capital requirement of the central bank after getting N231.8 billion through a public offer in 2025.
It stressed that as of December 31, 2025, the lender, based on verified eligible capital (paid-up share capital and share premium), had N266.5 billion.
The company further disclosed that it raised an additional N11.0 billion from the minority divestment of approximately 10 per cent of the issued share capital of FCMB Pensions Limited.
“Together, the public offer and minority divestment provide sufficient capital for the bank to meet the revised N500 billion minimum capital requirements 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 December 31, 2025.
“FCMB Group expresses its sincere appreciation to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone,” parts of the statement read.