Shareholders of FCMB Group Plc have approved a capital raise of up to N400 billion to meet the recapitalisation mandate by the Central Bank of Nigeria (CBN).
The approval was given during the bank’s Extraordinary General Meeting (EGM) on Monday, December 8, 2025. Following the approval, FCMB Group commits to meeting the minimum regulatory capital for banks with an international license ahead of the March 2026 deadline.
This will allow FCMB to retain its international banking license for its subsidiary, First City Monument Bank Limited, and aligns with the Central Bank of Nigeria’s minimum capital requirements.