FCMB Obtains Shareholders’ Approval to Raise Additional N400bn
FCMB Group Plc shareholders have approved an increase in capital raised of up to N400 billion. The approval was given during an Extraordinary General Meeting (EGM) on Monday, December 8, 2025.
The approval for the expanded capital raise reflects the group’s exceptional financial performance and shows shareholders’ unwavering confidence in its leadership and bold growth ambitions, the group said.
Following the approval, FCMB Group will meet the minimum regulatory capital for banks with an international licence ahead of the March 2026 deadline.
This achievement will allow FCMB to retain its international banking licence for its subsidiary, First City Monument Bank Limited, and aligns with the Central Bank of Nigeria’s (CBN) minimum capital requirements.
Speaking at the EGM, the Group Chief Executive Officer, Ladi Balogun, expressed profound gratitude to shareholders for their support and emphasised the strategic importance of the capital raise. He said:
“The additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth. We will invest in human capital and technology, support our international expansion, and reduce high-cost deposits.
“We project our earnings per share (EPS) to grow by over 50% on average over the next two years. This positions FCMB to outperform the market while delivering stronger dividends and shareholder returns.”
Balogun added that: “With the capital adequacy ratio projected above 20%, our ability to pay dividends will improve significantly. Shareholders can expect a steady rise in dividends per share, reflecting the bank’s growth trajectory and enhanced returns.”
The shareholders of FCMB Group also approved the management’s decision to accept oversubscriptions from the 2025 Public Offer of the Group’s shares, up to the limit prescribed by the Securities and Exchange Commission (SEC) and subject to regulatory approvals. This leverages the strong investor demand reflecting confidence in the Group.
The shareholders granted the increase in Share Capital: FCMB Group’s issued share capital is increased from N30,002,169,782.50 divided into 60,004,339,565 ordinary shares of 50 kobo each by the creation and addition of the number of ordinary shares that will be required to give effect to the capital raise.
The new ordinary shares shall rank pari passu in all respects with the existing ordinary shares of the Company.
With a diversified subsidiary portfolio and strong financial performance, FCMB has a forward-looking digital strategy and an impact-focused purpose. It is poised to make a significant contribution to Nigeria’s ambitious goal of achieving a $1 trillion economy. Nestlé, Guinness, Others Lift Stock Market by N331bn
