Optimus Bank Raises Capital to N200bn, Meets CBN Requirements

Optimus Bank has successfully raised its paid-up capital to N200 billion, thereby meeting the Central Bank of Nigeria's (CBN) recapitalization requirements and retaining its national banking license. This achievement comes ahead of the CBN's deadline, which mandates compliance with new capital thresholds by March 31, 2026.

The CBN, led by Olayemi Cardoso, announced a two-year recapitalization exercise starting April 1, 2024, requiring banks to meet a minimum capital of N500 billion. Following this directive, Optimus Bank plans to conduct various rounds of rights issues and a private placement program to raise additional funds.

This capital injection is part of a broader effort by the CBN to enhance the financial system's stability and improve banks' capacity to support larger transactions. Analysts believe that this fresh capital will enable Optimus Bank to deepen market penetration, expand its loan book, and enhance its digital transformation in Nigeria's competitive banking landscape.