FCMB Group Shareholders Approve N400 Billion Capital Raise for CBN Deadline
FCMB Group PLC shareholders have approved a capital raise of N400 billion to meet the Central Bank of Nigeria's recapitalization deadline by March 2026. The expansion of capital reflects the group's strong financial performance, with shareholders expressing confidence in the leadership's growth strategy.
The capital raise aims to strengthen capital adequacy ratios, accelerate growth, invest in technology and human capital, and enhance shareholder returns. The bank's CEO, Ladi Balogun, emphasized the importance of the capital raise in aligning with regulatory requirements and improving dividend payouts.
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