FCMB Plans N370 Billion Capital Raise Amid Strong Investor Demand

FCMB Group Plc is set to raise its capital to N370 billion following robust investor interest. The Nigerian lender aims to meet the Central Bank of Nigeria's stricter capital requirements.

FCMB has already raised N167.7 billion in the first phase of its recapitalization plan. The bank's ongoing public offer seeks to attract N160 billion to address its capital needs, particularly for its subsidiary, First City Monument Bank Ltd.