FCMB nears N500bn recapitalisation approval for worldwide licence

FCMB Group is near assembly its N500 billion recapitalisation goal required for a world banking licence, in keeping with sources accustomed to the matter.

Dependable sources inside the Central Bank of Nigeria (CBN) confirmed the event to BusinessTimes.

The transfer comes as banks race to adjust to the CBN’s new capital necessities forward of the regulatory deadline, with a number of Tier One lenders already securing approvals.

The monetary companies group had initially introduced in 2024 that it deliberate to lift N340 billion, earlier than rising the goal to N370 billion in 2025.

In November, it additional disclosed plans to extend the capital ceiling to about N400 billion.

When mixed with the N125.2 billion capital it held in 2023, the group seems set to surpass the N500 billion threshold required for worldwide banking standing.

What the information is saying 

BusinessTimes checks reveal that the group at the moment has a share capital of N288.8 billion, in keeping with its 2025 full-year interim monetary assertion.

• It additionally has one other N46.6 billion in Further Tier 1 Capital, bringing whole qualifying capital to N335 billion, leaving about N165 billion required to fulfill the edge
• The monetary companies group seems to be on observe to fulfill its recapitalisation goal following the lately concluded public supply, by means of which it raised over N200 billion.
• BusinessTimes additionally understands that the bank is more likely to obtain one other N10 billion from a divestment in one in all its subsidiaries.
• These figures present a snapshot of its progress towards assembly the recapitalisation benchmark set by the apex bank.

Mixed, the group would have raised about N400 billion in contemporary capital, which might take its whole capital base to roughly N525 billion, primarily based on BusinessTimes’ evaluation.

A supply on the CBN confirmed that the apex bank has obtained particulars of the most recent public supply proceeds introduced by the lender and is at the moment reviewing the submission.

• “The bank is present process verification,” the supply stated. 
• “We do not need any purpose to consider they won’t obtain the worldwide banking licence standing.” 

The verification course of is a part of the CBN’s closing compliance checks earlier than granting full approval beneath the brand new capital regime.

What it is best to know 

The CBN has disclosed that about 19 banks have met their recapitalisation targets throughout completely different licence classes, reflecting important progress within the sector-wide capital elevate.

A number of Tier One lenders have already secured regulatory approvals, whereas others await closing clearance following verification.

• Entry Company, GTCO, Zenith Bank Plc and First Holdco have met their recapitalisation targets and secured CBN approvals. United Bank for Africa has additionally met its goal however is awaiting closing approval.
• United Bank for Africa raised N178.3 billion, which, when added to its N355 billion capital base, brings its whole capital above the N500 billion minimal required for Tier One banks with worldwide licences.
• FCMB, Fidelity Bank, Sterling Bank, Stanbic IBTC and Wema Bank have additionally met their recapitalisation targets and are awaiting CBN approval beneath the continuing verification train.
• The CBN lately directed holding firms to make sure that their whole capital exceeds the mixed capital of all their subsidiaries, according to Part 7.1 of the Tips for Licensing and Regulation of Monetary Holding Firms in Nigeria.

As of August 2025, GTBank’s capital base stood at over N504 billion, comfortably above regulatory thresholds, whereas GTCO disclosed {that a} latest N10 billion capital elevate was undertaken to adjust to holding firm capital computation guidelines.

FCMB’s 2025 full-year interim monetary assertion reveals a pre-tax revenue of N176.9 billion, in comparison with N73.3 billion as of December 2024.

The bank’s whole belongings rose to N7.5 trillion from N7 trillion in 2024, whereas internet belongings stood at N823.4 billion, together with N335.4 billion in share capital.

These figures underline the group’s strengthened monetary place because it strikes nearer to securing worldwide banking standing, topic to closing regulatory approval.