FCMB Raises N400bn ahead of CBN's 2026 recapitalization deadline.
The First City Monument Bank (FCMB) Group Plc is poised to significantly bolster its financial foundations, following shareholder approval for a substantial capital raise of up to N400bn. This strategic move, sanctioned during a recent Extraordinary General Meeting (EGM), positions FCMB to enhance its capital adequacy ahead of the Central Bank of Nigeria's (CBN) impending 2026 recapitalisation deadline for Nigerian banks. The initiative underscores a proactive approach to regulatory compliance, while simultaneously earmarking substantial resources for expansion, technological advancement, and a stronger competitive footprint in Nigeria’s evolving financial landscape. The successful execution of this capital injection is critical not only for FCMB’s sustained growth but also for reinforcing stability within the broader banking sector as it navigates stringent new regulatory requirements. Read the full guide Background and Regulatory Drivers The Nigerian banking sector is curr...