FCMB completes ₦500 billion recapitalisation, retains international banking licence

FCMB Group Plc has completed the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and has secured its planetary banking licence aft obtaining each required regulatory approvals.

The Group raised much than ₦400 cardinal done a bid of transactions, including nationalist equity offerings, a convertible instrument, and a number divestment successful 1 of its subsidiaries.

The Nigerian fiscal services radical raised ₦144.6 cardinal done a nationalist connection successful July 2024. The connection was oversubscribed by 33% and drew astir 42,800 investors.

About 92% of the subscriptions were completed done integer channels, including the FCMB mobile banking application.

FCMB besides raised ₦22.7 cardinal done a mandatory convertible enactment and realised ₦11 cardinal from a number divestment successful FCMB Pensions Limited.

A 2nd nationalist connection launched successful October 2025 raised ₦231.8 cardinal and was oversubscribed by 50.5%.

It attracted much than 25,800 investors, with the superior raised astir wholly successful Nigeria, reflecting the extent of the home superior markets.

Following the completion of these transactions and receipt of regulatory approvals, First City Monument Bank Limited has afloat met the ₦500 cardinal minimum superior request for an planetary banking licence.

Group Chief Ex...