FCMB Group Plc Meets CBN's Recapitalization Target Ahead of Deadline
FCMB Group Plc has successfully met the Central Bank of Nigeria's recapitalization target, allowing its flagship subsidiary, First City Monument Bank, to retain its national bank license and continue full domestic operations. This development comes as part of the ongoing bank sector recapitalization program, with the CBN confirming that 20 deposit money banks have already achieved compliance.
FCMB crossed the national capital requirement threshold following a successful completion of a ₦147.5 billion public offer in 2024. The bank's compliance positions it well above the minimum requirements, reducing near-term regulatory risks as the deadline approaches.
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