At an imminent Extraordinary General Meeting (EGM scheduled for 8 December 2025), FCMB Group Plc is proposing to increase its capital-raise ceiling from N340 billion to N370 billion, in a strategic move to align with the Central Bank of Nigeria’s revised minimum capital requirements.
The filing made to the Nigerian Exchange Group reveals the upward revision as part of the bank’s flagship subsidiary’s bid to satisfy regulatory thresholds ahead of the 31 March 2026 deadline mandated by the CBN. The measure comes after a series of successful fund-raising rounds: FCMB secured N144.56 billion from its 2024 public offer (exceeding an N110 billion target) and raised US $15 million via a mandatory convertible loan (equivalent to ~N23.11 billion) which was converted into equity.
According to FCMB, the decision to expand the capital limit again is driven by sustained positive investor interest and the need to “efficiently meet the CBN’s new capital adequacy benchmarks”. At the upcoming EGM, shareholders will be asked to vote on several key resolutions: increasing the capital-raise ceiling, absorbing oversubscriptions from the 2025 public offer, and raising the company’s issued share capital.
Analysts observe that FCMB’s proactive recapitalisation strategy demonstrates agility in adapting to regulatory shifts and underscores market confidence in its governance and growth outlook. By moving ahead of many peers, FCMB may position itself favourably in a banking sector undergoing consolidation and regulatory tightening. The recapitalisation drive therefore signals not just regulatory compliance, but an ambition to strengthen resilience and expand lending capacity in a challenging economic environment.
The recapitalisation push by FCMB reflects broader efforts by Nigeria’s banking sector to bolster buffers amid currency volatility and inflation. With the CBN raising minimum capital to N500 billion for international-licence banks and N200 billion for national banks, banks such as FCMB are strengthening their capacity to support credit growth and economic recovery.
