First HoldCo Plc, the parent company of First Bank of Nigeria, said it is seeking shareholders’ approval to raise ₦253.099 billion in fresh equity capital. The move is aimed at strengthening its balance sheet and approaching a ₦1 trillion paid-up capital base, which the bank earlier sought. The group made the proposal in a notice …
The Central Bank of Nigeria (CBN) said it has concluded the banking sector recapitalisation programme, announcing that banks raised a total of ₦4.65 trillion. The apex bank said this in a statement issued on Wednesday, April 1, signed by its Director of Banking Supervision, Olubukola Akinwunmi, and Acting Director of Corporate Communications, Hakama Sidi Ali. …
As the March 31 deadline for bank recapitalisation set by the Central Bank of Nigeria (CBN) expires on Tuesday (tomorrow), a handful of banks remain under pressure to meet the requirement. The affected banks are still dealing with regulatory, legal and structural challenges that have slowed their progress, even as most of the industry has …
The Centre for the Promotion of Private Enterprise (CPPE) says Nigeria’s bank recapitalisation has strengthened the financial system but warns that without increased lending to businesses, the exercise will have little impact on the real economy. It gave the warning in a statement issued on Sunday, March 29, by its Chief Executive Officer, Muda Yusuf, …
Nigeria’s banking sector has raised a combined ₦3.85 trillion in fresh capital as of March 12, 2026, according to the latest update from the Proshare Nigeria Banking Sector Recapitalisation Compliance Tracker. The figure underscores the scale of the industry’s push to meet new regulatory capital thresholds ahead of the Central Bank of Nigeria’s (CBN) March …
Nigeria’s banking sector is approaching a decisive moment with just 77 days to the March 31, 2026, recapitalisation deadline. So far, about 22 licensed banks, approximately 65 per cent of the total, have confirmed full compliance with the Central Bank of Nigeria’s (CBN) minimum capital requirements. Tier-1 lenders make up the bulk of banks that …
First Bank of Nigeria (FirstBank) has successfully met the ₦500 billion minimum capital requirement following the completion of a series of strategic capital-raising initiatives. The First HoldCo Plc, the parent company, disclosed this in a statement issued on Monday and signed by its Group Company Secretary, Abiola Baruwa. It stated that meeting the Central Bank …
Fidelity Bank Plc said it has met the ₦500 billion capital requirement for an internationally licensed bank and is now awaiting approval from the Central Bank of Nigeria (CBN). The bank made this known in a statement on Tuesday, January 6, signed by its Company Secretary, Ezinwa Unuigboje. It hinted that following approvals from the …
The Chairman of First HoldCo Plc, Femi Otedola, has called on the Central Bank of Nigeria (CBN) to increase the minimum capital threshold for international banks to ₦1 trillion. The billionaire businessman and serial investor made the call in a statement on Friday. He believes that Nigeria’s ambition to build a $1 trillion economy by …
The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, said the banks' recapitalisation exercise is "making good progress". He hinted at this during a fireside chat at the European Business Chamber (Eurocham Nigeria) C-Level Forum in Lagos, moderated by the Chief Country Representative, Deutsche Bank Nigeria, Andreas Voss. The update is coming; after …
