FCMB Group PLC to Raise N400 Billion Capital After Shareholders' Approval

FCMB Group PLC has received approval from its shareholders to increase its capital by N400 billion during an Extraordinary General Meeting held in Lagos. The move is in line with the Central Bank of Nigeria's minimum capital requirements.

The capital raise aims to boost the group's financial performance, strengthen capital adequacy, accelerate growth, invest in technology and human capital, and improve shareholder returns. The Group's CEO, Ladi Balogun, expressed gratitude for the support and highlighted the positive impact the capital raise will have on the bank's operations and dividends.