₦airaland Forum

FCMB Group Shareholders Approve ₦23.08 billion Dividend


Shareholders of FCMB Group Plc on June 30, 2026, approved a total dividend payout of ₦23.08 billion for the 2025 financial year at the company's 13th Annual General Meeting (AGM) held in Lagos.

Shareholders, attending both in person and online, approved all Board resolutions, including the re-election of Mr. Ladi Jadesimi and the ratification of Mrs. Adepeju Adebajo as Directors. They also elected Audit Committee members and authorised Directors to set the auditors’ remuneration.

The AGM followed a year of strong earnings growth across the group’s businesses, despite challenging economic conditions. FCMB Group reported profit before tax of ₦202.1 billion for the year ended Dec. 31, 2025, up 81% from ₦111.9 billion a year earlier. Profit after tax rose 142% to ₦177.3 billion, while gross revenue increased 42.5% to ₦1.13 trillion. Return on equity rose to 23.2%.

The Group reported double-digit profit growth across all divisions. The Banking Group’s profit before tax rose 110%, while Consumer Finance, Investment Banking, and Investment Management grew by 107%, 90%, and 29%, respectively. This momentum continued into 2026, with all segments achieving strong first-quarter growth.

Chairman Mr. Ladi Jadesimi stated that these results demonstrate the resilience of the group’s diversified business model.

"We remain steadfast in our objective of balancing immediate shareholder returns with the need to retain sufficient capital to support long-term expansion, strengthen our competitive positioning and optimise value creation for all stakeholders," Jadesimi said.

Group Chief Executive Mr. Ladi Balogun described 2025 as a transformative year, highlighting the strength of collaboration across its businesses.

‘’2025 was a transformative year for FCMB Group – one in which we witnessed the true impact of ‘The Power of the Group’. A core driver of our performance in 2025 was the effective synergy across our business groups: Banking Group, Consumer Finance, Investment Banking, and Investment Management, each playing a distinct yet complementary role in delivering business growth,” Balogun said. “Our focus remains firmly on deepening our digital transformation, strengthening our culture of excellence, and amplifying the collective power of our ecosystem.”

Balogun noted that completing the Group’s recapitalisation programme has positioned the organisation for its next phase of long-term growth.

Shareholder representatives commended the Board and management for the company’s performance and dividend payout.

Mrs. Bisi Bakare, National Coordinator of the Pragmatic Shareholders Association of Nigeria, stated that the dividend reflects management’s commitment to shareholder value despite economic challenges.

Mr. Boniface Okezie, National Chairman of the Progressive Shareholders Association of Nigeria, praised the group’s support for small businesses and women-owned enterprises. He noted that FCMB provided ₦537.5 billion in financing to SMEs in 2025, including ₦51 billion to women-owned businesses.

Shareholder Mr. Eric Akinduro highlighted improved asset quality, noting the group’s non-performing loan ratio declined to 5% from 5.95%.

FCMB reported an 8.2% increase in total assets to ₦7.63 trillion. Consumer and SME lending rose 24% to ₦930 billion, while assets under management grew 24.2% to ₦1.70 trillion, reinforcing the Group’s diversified earnings base and long-term growth strategy.

The approved dividend was paid on July 30, 2026, to shareholders whose names appeared in the register of members as of the close of business on June 15, 2026.

FCMB Asset Management Limited Upgraded to A(NG)/A1(NG) by GCR Ratings, Affirming Stable Outlook



The upgrade reflects the asset manager’s consistent earnings growth, disciplined liquidity, and market leadership.



FCMB Asset Management Limited (FCMBAM), the asset management arm of FCMB Group Plc, has received an upgrade to its national scale long-term and short-term issuer ratings of A(NG) and A1(NG), from A-(NG) and A2(NG), by GCR Ratings (GCR), a leading pan-African credit rating agency. The outlook on the ratings remains stable.

The upgrade is anchored on FCMBAM’s competitive resilience and financial discipline, alongside the strengthened credit profile of FCMB Group Plc. GCR highlighted FCMBAM’s decade-long track record of strong performance, well-established brand franchise, diversified product suite, and robust distribution network as key drivers of its standalone strength. These are further supported by consistent earnings growth and a disciplined, unleveraged balance sheet.

According to GCR, FCMBAM's competitive position is supported by “its relatively long track record, strong brand franchise, established product and geographical distribution network, and cross-selling opportunities,” with the rating agency noting that FCMBAM ranks among the top five asset managers in Nigeria, with an estimated 5% share of a fragmented market, as at 31 December, 2025.

The Company’s financial performance underpinned the upgrade, with revenue growing by 30% and operating cash flow increasing by 13%, enabling the business to be fully funded without recourse to debt. Liquidity strengthened further, with liquidity sources-vs-uses improving to 5.0x as of December 2025, from 3.6x a year earlier, while the EBITDA margin edged up to over 58%.

Commenting on the upgrade, the Chief Executive Officer of FCMB Asset Management Limited, Mr James Ilori, said: “This upgrade is an important external validation of a strategy we have pursued with discipline over many years: building an investment franchise that performs reliably, governs itself rigorously, and earns trust in every market cycle. It speaks to the strength of our membership of FCMB Group Plc and to a culture that holds itself to local and global standards of risk management and capital stewardship. As Nigeria’s asset management industry enters a new era of higher capital thresholds and rising investor expectations, we intend to lead from the front — ahead of regulatory timelines, ahead in digital transformation, and ahead in the outcomes we deliver for the clients who trust us to assist them in achieving their investment objectives.”

FCMBAM remains committed to delivering globally aligned investment solutions that support capital preservation, income generation, and long-term capital growth, underpinned by rigorous risk management and governance standards.

FCMB Asset Management Limited manages a suite of Collective Investment Schemes, including the FCMBAM Money Market Fund, FCMBAM Debt Fund, FCMBAM Equity Fund, FCMBAM USD Bond Fund and FCMB-TLG Private Debt Fund, alongside discretionary and non-discretionary portfolio management mandates tailored to high-net-worth and institutional clients.

Established in 1997, FCMB Asset Management Limited is registered and regulated by the Securities and Exchange Commission, Nigeria. It provides portfolio management and investment advisory services to individual and institutional clients and is a member of FCMB Group Plc.

FCMB Turns Everyday Banking into Rewards with New Mobile App Upgrade



First City Monument Bank (FCMB) has introduced a set of new features on its mobile app, led by a reward points system that turns everyday transactions into tangible benefits for customers.

With this update, FCMB shifts the focus from routine banking to value creation, giving customers a stronger reason to engage, transact, and stay within its digital ecosystem.

At the centre of the upgrade is the Reward Points feature, which allows customers to earn and redeem points on transactions made in the app. The more customers use the platform, the more value they unlock, creating a direct link between daily banking activity and real-life rewards.

Beyond the rewards, the enhanced app introduces a Regal Premium Lifestyle Subscription that offers users access to curated lifestyle benefits across travel, dining, and entertainment, plus a three-month free transfer for new-to-bank customers.

Customers can now access mutual fund investments directly within the app, helping them grow wealth without multiple platforms. This feature reinforces FCMB’s commitment to empowering customers with accessible financial tools.

To improve customer experience, the app now includes “Chat with Temi”, an intelligent in-app support feature that delivers instant assistance and quicker issue resolution.

Speaking on the update, Oladipo Alabede, Divisional Head, Payments and Solutions, said: “At FCMB, we are constantly innovating to meet the evolving needs of our customers. These features are designed to provide convenience, reward loyalty, and empower our customers to do more with their finances, right from their mobile devices.”

In line with its financial inclusion drive, FCMB has simplified account upgrades from Tier 1 to Tier 2, allowing customers to access enhanced banking services without visiting a branch.

Additionally, the introduction of instant virtual card request and activation ensures customers can immediately create and use secure digital cards for online transactions.

The Divisional Head, Personal Banking, Adetunji Lamidi, emphasised the Bank’s digital transformation journey: “These upgrades reflect our technology-driven strategy to build a smarter, more intuitive banking platform. By integrating intelligent support systems like Temi and enabling instant services such as virtual card activation, we are redefining convenience and accessibility in banking.”

This comprehensive upgrade reflects FCMB’s ongoing commitment to innovation, customer focus, and digital excellence, positioning the mobile app as a one-stop platform for seamless, rewarding, and future-ready banking.

Customers are encouraged to update or download the FCMB Mobile App today from their app store to use these new features and take full control of their financial journey.

Stronger Creative Ecosystems Are Key to Sustainable Growth – FCMB


Leading stakeholders from Nigeria’s creative industry, financial institutions, government agencies, development partners, and private sector organisations convened at the 2026 Business Day Creative Entertainment Summit held at the Oriental Hotel, Lagos, to examine the structural reforms required to unlock the sector’s long-term growth and economic potential.

The summit provided a platform for robust discussions on the opportunities and challenges shaping Nigeria’s creative economy, with participants exploring pathways for building a more sustainable, globally competitive, and investment-ready industry.

Speaking during a panel session, Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments, First City Monument Bank (FCMB), noted that while Nigerian creatives continue to achieve remarkable success on the global stage, the industry’s future growth will depend on the strength of the ecosystem supporting creative talent and enterprises.

According to her, Nigeria’s creative industry has demonstrated extraordinary resilience and innovation, producing globally recognised artists, creators, and businesses despite operating within an environment characterised by significant structural constraints.

“The success stories we celebrate today are proof of the immense talent, creativity, and entrepreneurial spirit that exists within Nigeria’s creative industry. However, for sustainable growth to occur, we must move beyond individual success stories and focus on strengthening the system that enables creative enterprises to scale, compete, and create lasting economic value”, she said.

“Financing is important, but capital alone cannot solve the industry’s challenges. We must also address issues around intellectual property protection, efficient royalty collection mechanisms, business formalisation, governance standards, data transparency, distribution networks, industry infrastructure, and capacity building. These are the foundations that attract investment and support sustainable growth”.

She further noted that stronger institutional frameworks would not only improve investor confidence but also enable creative entrepreneurs to build scalable businesses capable of creating jobs, generating export earnings, and contributing meaningfully to national economic development.

At FCMB, we are intentional about supporting sectors that create opportunities and drive economic development. We understand that sustainable progress in the creative industry requires collaboration, knowledge sharing, capacity development, and strategic partnerships that strengthen the broader ecosystem. Our role is to support initiatives and platforms that help creative entrepreneurs build stronger and more sustainable businesses.

She added that through initiatives such as SheVentures and other entrepreneurship-focused interventions, FCMB continues to support entrepreneurs across various sectors by providing access to training, mentorship, business advisory services, networking opportunities, and, where appropriate, financing solutions.

As a supporter of entrepreneurship and inclusive economic growth, FCMB remains committed to collaborating with stakeholders across sectors to support initiatives that strengthen Nigeria’s creative economy and enable more entrepreneurs to thrive in an increasingly competitive global marketplace.

FCMB Group Reports ₦202.1 Billion Profit Before Tax for 2025, ₦87.0 Billion in Q1 2026

FCMB Group Plc (NGX: FCMB) has announced its audited financial results for the year ended Dec. 31, 2025, and its unaudited results for the first quarter ended March 31, 2026.

For the 2025 financial year, the Group's profit before tax rose 81% year-on-year to ₦202.1 billion from ₦111.9 billion in 2024, while profit after tax increased 142% to ₦177.3 billion, leading to Return on equity improving to 23.2%.

The strong earnings momentum continued into the first quarter of 2026, with profit before tax and profit after tax increasing by 148% and 137%, respectively, to ₦87.0 billion and ₦76.5 billion.

All business divisions recorded double-digit growth and contributed positively to profitability during the period. In 2025, the banking subsidiary grew profit before tax by 110% to ₦163.3 billion, while the consumer finance, investment management and investment banking businesses recorded profit growth of 107%, 29% and 90%, respectively. In the first quarter of 2026, profit growth across the divisions was 97% for banking, 99% for consumer finance, 54% for investment management, and 322% for investment banking.

The banking subsidiary, First City Monument Bank Ltd., benefited from the deployment of proceeds from its 2024 capital raise and higher yields on earning assets, resulting in growth in net interest income and return on equity.

Gross revenue grew 42.5% to ₦1.13 trillion in 2025, largely driven by a 61.7% growth in interest income and a 17.3% growth in earning assets, which grew from ₦4.18 trillion to ₦4.90 trillion. The same drivers supported a strong start to 2026, with gross revenue growing by 26.7% to ₦320.2 billion in the first quarter, compared with ₦252.7 billion in the corresponding period of 2025.

Customer confidence in FCMB remained strong. Current and savings account balances grew 17% by ₦420.5 billion during 2025 and a further 15% by ₦433.5 billion in the first quarter of 2026. Total customer deposits increased by 2.8% in 2025 and 5.8% in the first quarter of 2026, as low-cost deposit mix improved from 65.4% to 71.1%.

Net interest income grew by 124.5% to ₦505.9 billion in 2025 from ₦225.3 billion in 2024, driven by a growth in net interest margin to 9.5% from 6.3%. This momentum continued into 2026, with net interest margin growing further to 10.7% in the first quarter.

Alongside stronger revenue generation, the Group improved operating efficiency. Its cost-to-income ratio declined to 53.8% by the end of 2025 from 59.9% . These gains were supported by continued investments in people, technology and business expansion.

Total assets increased 8.2% to ₦7.63 trillion at the end of 2025 from ₦7.05 trillion a year earlier and grew a further 4.4% to ₦7.96 trillion as of March 31, 2026, reflecting the Group's focus on balance sheet efficiency and optimisation.

The Group also maintained a disciplined approach to lending while expanding support for consumers and small businesses. Loans and advances to customers increased 0.4% to ₦2.37 trillion in 2025, while consumer and SME lending rose 24% to ₦930 billion. Total loans and advances stood at ₦2.23 trillion at the end of the first quarter of 2026.

Assets under management maintained a strong growth trajectory, growing 24.2% to ₦1.70 trillion at the end of 2025 from ₦1.37 trillion in 2024. This further grew by 10.1% to ₦1.88 trillion as of March 2026, supported by continued market share gains by FCMB Pensions and FCMB Asset Management.

The Group recorded a 21.4% increase in total equity to ₦835.4 billion at the end of 2025. Total equity rose further to ₦1.14 trillion as of March 2026, up 36.5%, supported by retained earnings and additional capital raised through the Group's 2025 public offer. The Group's capital adequacy ratio stood at 26.95% as of March 2026, providing a strong capital buffer to support future growth. FCMB Group proposed a dividend of 35 kobo per share.

Commenting on the results, Group Chief Executive Ladi Balogun said:

"These results reflect the strength of our diversified business model and disciplined execution. We grew earnings, improved efficiency and strengthened our balance sheet while continuing to support customers and create value for shareholders. Our strong start to 2026 positions us well to sustain growth across the Group."

FCMB Group Plc is a financial services group, headquartered in Lagos, Nigeria, with operating companies divided along four business groups – The Banking Group (First City Monument Bank Limited (‘The Bank’), FCMB (UK) Limited and FCMB Microfinance Bank Limited); Consumer Finance (Credit Direct Limited); Investment Banking (FCMB Capital Markets Limited and CSL Stockbrokers Limited) and Investment Management (FCMB Pensions Limited, FCMB Asset Management Limited and FCMB Trustees Limited). Listed on the Nigerian Stock Exchange (NSE) with the ticker symbol (FCMB), FCMB Group Plc has 65,954,593,274 ordinary shares held by over 620,000 shareholders.

First City Monument Bank Limited, the flagship company, has about 15 million customers and 205 branches in Nigeria and a banking subsidiary in the United Kingdom through FCMB Bank (UK) Limited (which is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA in the United Kingdom).

https://pmnewsnigeria.com/2026/06/13/fcmb-group-posts-%E2%82%A6202-1bn-profit-before-tax-for-2025-%E2%82%A687bn-in-q1-2026/

First City Monument Bank Appoints Bismarck Rewane as Non-Executive Director and Chairman of its Board of Directors


First City Monument Bank (FCMB) Limited has appointed Mr. Bismarck Rewane as a Non-Executive Director and Chairman of its Board of Directors, following approval from the Central Bank of Nigeria.

Mr. Rewane is a respected economist and experienced leader in Nigeria’s financial sector, with more than 40 years of experience in macroeconomic research, investment banking, and strategic management. He is the Managing Director at Financial Derivatives Company Limited, a top financial advisory and economic research firm. He is a Fellow of the Nigerian Economic Society and has held leadership roles at International Merchant Bank Nigeria Limited and First National Bank of Chicago. He graduated from the University of Ibadan with a degree in Economics and is a Fellow of the Chartered Institute of Bankers of Nigeria and an Associate of the Institute of Chartered Bankers of England and Wales.

Mr. Rewane has served on the boards of blue-chip companies and multinationals, including Guinness Nigeria Plc., British American Tobacco, Henkel Nigeria Limited, Top Feeds Nigeria Limited, and Africa Infrastructure Plus Partners. He was a member of the Presidential Steering Committee for the Resolution of the Global Economic Crisis.

He has completed executive management programmes at top business schools, including the Oxford International Capital Markets programme, the Euromoney Institute of Finance, and IMD Lausanne, Switzerland.

The Board of Directors of First City Monument Bank welcomes Mr. Rewane. The Bank is confident that his expertise in macroeconomics, corporate governance, and strategic management, together with the Bank's stronger capital base, will strengthen its leadership and help drive the next phase of growth while continuing to deliver value to stakeholders.

First City Monument Bank Limited is a member of FCMB Group Plc, a financial services company that provides banking, consumer finance, investment management, and fintech services.

Digital Payment Adoption Grows as SMEs Embrace FCMB Collect



First City Monument Bank has since strengthened its digital banking offerings with “FCMB Collect”, a digital collections and payment solution developed to help businesses digitise cashflow management and improve payment operations. The platform targeted at micro, small, and medium enterprises (MSMEs), including distributors, wholesalers, manufacturers, startups, schools, service providers, and online merchants seeking easier ways to manage collections and customer payments.

The bank said, “FCMB Collect reflects the increasing need for businesses to adopt technology-driven systems capable of supporting operational efficiency, business growth, and improved customer experiences in an increasingly digital economy”.

According to FCMB, the platform allows merchants to collect payments seamlessly through multiple channels without requiring complex integrations or advanced financial expertise, and to remove common barriers preventing small businesses from embracing a digital payment system. Some perks are that businesses can also generate invoices, track transactions, send debt reminders, reconcile payments, and monitor cash flow performance through a single dashboard.

Industry experts have continued to highlight the importance of digital financial solutions in helping Nigerian SMEs scale sustainably, particularly as businesses increasingly rely on online transactions, mobile payments, and automated financial systems to meet changing consumer expectations.

The bank noted that FCMB Collect is also supporting stronger customer engagement by enabling businesses to send payment reminders and manage collections more professionally, ultimately improving customer trust and operational credibility. As part of its campaign strategy, the bank plans to deploy educational content, thought leadership initiatives, and merchant success stories to increase awareness about the benefits of digital collections and encourage adoption among growth-focused businesses across Nigeria.

Click here to sign -up or send a mail to smehelpdesk@fcmb.com for a Demo.

At 2026 Ojude Oba, FCMB embraces continuity and enterprise



For visitors arriving in the southwestern Nigerian town of Ijebu-Ode, the Ojude Oba festival first appears as a spectacle.

Thousands in embroidered fabrics honour the Awujale, Ijebuland’s traditional ruler, as horse riders thunder across open grounds and regberegbe parade in coordinated colours. Cameras flash and drums echo throughout the city.

However, beneath the visual grandeur, there is something more enduring: a functioning ecosystem of heritage, commerce and intergenerational identity.

This deeper meaning is also reshaping how Nigerian companies position themselves in relation to one of West Africa’s most prominent cultural festivals.

Among the brands redefining that conversation is First City Monument Bank (FCMB), a part of the FCMB Group, one of Nigeria’s leading financial institutions.

For years, companies sponsoring Nigerian festivals focused mainly on visibility. Concert stages, celebrity appearances, and branding campaigns dominated. Telecommunications companies, breweries, and consumer brands led, usually tying themselves to entertainment and spectacle.

Ojude Oba offers a unique cultural opportunity, analysts note.

Professor Fassy Yusuf, the 2026 Ojude Oba Festival Organising Committee Coordinator, called the festival a symbol of heritage, religious tolerance, pride, and Ijebu destiny. He said that beyond spectacle, Ojude Oba is truly about continuity: family, enterprise, prestige, and community memory.

It is in this context that FCMB’s long-standing association with enterprise, family legacy, and prosperity built across generations becomes especially resonant.

The festival itself reflects many of the values historically associated with the Ijebu people, who are widely known in Nigeria for strong trading traditions, family businesses and commercial networks that span generations.

Long before modern financial institutions emerged, Ijebu merchant culture was already organised around ideas of trust, reputation, inheritance and economic continuity.

Those themes remain visible throughout the festival.

Families come from across Nigeria, Europe, and North America for the annual procession, with generations often appearing together in matching clothes. Participation reinforces business legacies and social status. Local artisans, designers, photographers, and hospitality operators benefit from a surge in economic activity.

Ojude Oba functions as both a cultural celebration and an economic catalyst.

Fashion designers spend months on custom outfits. Hotels and restaurants fill to capacity. Transport operators, traders, and creatives benefit from increased demand as festival visitors flood the town.

For First City Monument Bank, this is the deeper connection to Ojude Oba — the festival’s power to strengthen social bonds while generating economic activity across communities. Rather than simply seeking visibility, the bank’s presence reflects an alignment with the values at the heart of the festival: heritage, enterprise, family legacy and prosperity built across generations. In that sense, FCMB’s participation feels less like brand promotion and more like a commitment to sustaining the culture, continuity and progress that define Ijebuland itself.

This evolving strategy also reflects a broader shift in how younger Africans engage with traditional culture.

Recently, Ojude Oba has become a digital phenomenon, fueled by Instagram, TikTok, and diaspora audiences fascinated by its blend of elegance, wealth, and indigenous identity.

For many younger Nigerians, the festival has become evidence that tradition and modern sophistication can coexist.

Consequently, that evolution has created new opportunities for brands seeking deeper cultural relevance.

While spectacle may attract attention, continuity creates a deeper emotional connection. Increasingly, the brands likely to endure are not merely those that advertise around culture, but those that understand culture as a form of social and economic infrastructure that shapes identity, community and long-term relevance.

This evolution may explain why institutions like FCMB are increasingly investing in narratives around legacy, community, and long-term prosperity rather than relying solely on conventional sponsorship messaging.

As cultural festivals across Africa evolve into global economic platforms, Ojude Oba is becoming a case study in how heritage can drive modern influence.

And for companies hoping to remain relevant across generations, that influence may prove more valuable than visibility alone.

FCMB Group Plc is deepening cultural engagement at Nigeria’s Ojude Oba festival by collaborating with finance professional and cultural figure Farooq Oreagba, whose appearances have helped propel the centuries-old celebration into global social-media and fashion conversations.

The partnership comes as Ojude Oba, a Yoruba cultural festival held annually in southwestern Nigeria, gains international visibility. Fashion platforms, diaspora communities, tourism stakeholders, and global media are paying increased attention to the festival.

FCMB has supported the festival for over two decades, noting that the initiative reflects its ongoing investment in cultural institutions that shape identity, foster enterprise, and boost local economic activity.

“Ojude Oba represents continuity, enterprise and community,” the financial services group said in a statement. “The festival has, for generations, connected people and created value across tourism, hospitality, fashion, media and commerce.”

Held in Ijebu-Ode, Ogun State, the festival draws thousands each year, including regberegbe age groups, horse-riding families, business leaders, and visitors from Nigeria and the diaspora.

In recent years, the event has grown from a regional gathering into one of Africa’s most recognisable festivals, driven in part by the viral spread of photographs and videos online.

Oreagba became a prominent festival figure after images of him in layered traditional attire, coral beads, and sunglasses, riding through the grounds, spread widely on social media and in style publications.

This imagery amplified global interest in Ojude Oba’s visual culture—horse processions, elaborate Yoruba fashion, and multigenerational displays of status and identity.

Despite this recent digital attention, FCMB said both the festival and Oreagba’s association with it have a much longer history.

“What the world is witnessing now is increased visibility around a longstanding cultural institution,” the Group said. “Ojude Oba has always carried cultural depth, sophistication and economic significance.”

This year’s festival, themed “Celebrating the Legacy of Oba Sikiru Adetona,” honours the late Awujale of Ijebuland, credited with making Ojude Oba one of Nigeria’s leading cultural events.

The festival has become an economic driver for Ogun State. It generates activity across hospitality, transportation, fashion, photography, media, and tourism.

FCMB said rising international interest in Ojude Oba shows how cultural institutions can serve as platforms for economic visibility, community engagement, and global cultural influence.

FCMB Helps Young Nigerians Build Lifelong Money Management Skills


First City Monument Bank (FCMB) has continued its financial literacy drive for secondary school students across Nigeria, helping young people build practical money management skills.

The initiative, carried out in collaboration with the Central Bank of Nigeria (CBN) as part of the 2026 Global Money Week celebration, reached thousands of students across the country's six geopolitical zones.

The programme, themed ‘‘Smart Money Talks’’, was designed to help students understand basic financial concepts early and develop the knowledge, skills, and attitudes needed to make informed financial decisions in a complex economic environment.

Through interactive sessions in Lagos, Kano, Abuja, Adamawa, Ogun, Imo, and Akwa-Ibom states, students learned about prudent resource management, budgeting, responsible spending, saving culture, and productive use of money.

The initiative reflects FCMB’s commitment to promoting quality education, financial inclusion, and poverty reduction in line with the Sustainable Development Goals.

Speaking on the programme, FCMB’s Divisional Head of Corporate Affairs, Diran Olojo, said financial literacy remains a critical life skill for young people.

“This initiative goes beyond teaching money management. Financial literacy empowers people, promotes responsible behaviour, and supports long-term economic inclusion. We want to nurture a generation that is informed, self-reliant, and equipped to make sound financial choices.”

Olojo added that FCMB remains committed to investing in young Nigerians through initiatives that equip them to navigate life with confidence and responsibility.

In his lecture to students of Hasiyanda Secondary School, Kano, FCMB’s Zonal Head, North-west, Ali Yahaya, said:

“Understanding money is one of the most important life skills you can develop. Financial literacy helps you make informed choices, avoid costly mistakes, and build a secure future regardless of your background or income level. Saving is not just about setting money aside; it builds discipline, resilience, and long-term thinking. Developing good financial habits early can shape opportunities and improve your future.”

He further advised students to build and earn income responsibly through creative skills, holiday jobs, and online businesses. He also urged parents to teach their children effective financial management by saving consistently and spending wisely.

Global Money Week is an annual international awareness campaign aimed at ensuring that children and young people acquire the financial knowledge, skills, attitudes, and behaviours necessary to make sound financial decisions and achieve financial wellbeing.

Since 2014, FCMB has provided financial education to nearly 20,000 secondary school students across Nigeria’s six geopolitical zones. The programme also supports ongoing efforts to address low financial literacy levels in the country.

By continuing to support financial education initiatives, FCMB and the CBN are helping to raise a generation better equipped to make informed choices, manage resources responsibly and contribute meaningfully to society.

REA, FCMB, Others Launch $188 million Fund to Finance 191mw Solar Capacity


The Green Finance Investment Facility (GFiF), a blended finance platform to mobilise large-scale private and institutional investment into distributed renewable energy infrastructure across Nigeria, has officially launched.

The facility, led by Barton Heyman Limited in partnership with the Rural Electrification Agency (REA), UK PACT, First City Monument Bank (FCMB), and ARMHIIL, aims to raise $188 million to finance 191 megawatts of distributed solar capacity for households, communities, and businesses across Nigeria.

The initiative also supports the Distributed Access through Renewable Energy Scale-Up (DARES) programme, a national effort to expand electricity access through decentralised renewable energy solutions.

Launched on May 7, 2026, in Lagos, the platform brought together financial institutions, renewable energy developers, policymakers, and development finance stakeholders. Its goal is to unlock financing solutions that accelerate energy access, reduce financing gaps, and support Nigeria’s transition to cleaner, more sustainable energy systems.

Speaking at the launch, the Managing Partner of Barton Heyman Limited, Olumide Lala, described the facility as a market-driven model capable of unlocking private capital at scale for Nigeria’s energy transition.

“The Green Finance Investment Facility is more than a financing arrangement; it represents direct support for over one million Nigerians. Nigeria’s distributed renewable energy sector can be financed using a private-sector framework that leverages sovereign pipelines, results-based funding, and commercial loans to attract private capital at the national level. This is our initial step to raise $40 billion to finance 20 gigawatts of distributed renewable energy,” he said.

Also speaking, Anthony Feyitimi, Senior Partner, Barton Heyman, said:

“The Green Finance and Investment Facility is not simply about clean energy. It is about what reliable, distributed power makes possible for Nigeria’s economy. Every megawatt we finance is a business that can operate, a supply chain that can function, a community that can compete. We have structured a blended finance platform that brings together sovereign pipelines, results-based funding, and commercial capital into a single, replicable facility. The GFIF Pilot is our first $188 million step. The platform’s ambition is $40 billion and 20 gigawatts. We are building it from Nigeria, for Nigeria.”

The Managing Director of the REA, Abba Aliyu, said the initiative directly addresses one of the sector’s most pressing constraints — access to finance.

“The Green Finance Investment Facility can tackle access to finance, one of the main barriers to renewable energy deployment. Today’s launch is the outcome of a strategic partnership created to ensure communities lacking reliable power can access electricity. We are proud of what this facility signifies for Nigeria’s energy future,” he stated.

Speaking on behalf of FCMB, George Ogbonnaya, Senior Vice President and Divisional Head, Business Banking Group, highlighted the Bank’s expanding role in renewable energy financing and inclusive infrastructure development.

“FCMB has established itself as a leading renewable energy financing institution, serving as a first-time lender to many players driving growth in the sector. We have committed ₦100 billion in debt financing for DARES. Currently, we are funding over eight developers under the DARES isolated mini-grid Performance-Based Grant programme and finalising funding for another seven developers. We will continue to support developers in scaling and meeting electrification targets, improving quality of life in rural and peri-urban communities. This aligns strongly with our purpose of fostering sustainable growth within the communities we serve,” he said.

He further disclosed that FCMB has financed more than 42 mini-grid projects and is supporting efforts to connect over 2 million households, in line with Nigeria’s national electrification objectives.

Derek Chime, Chief Investment Officer at ARM Harith Infrastructure Investment Limited (ARMHIIL), called for deeper collaboration across the ecosystem to unlock more investment into renewable energy infrastructure.

Simon Field, Deputy Head of Mission at the British High Commission in Lagos, reaffirmed UK PACT’s commitment to strengthening green finance frameworks and expanding renewable energy adoption in Nigeria.

Titilayo Oshodi, Special Adviser on Climate Change and Circular Economy to the Governor of Lagos State, stressed the importance of coordinated investment, innovation, and policy support in accelerating sustainable energy access.

Nigeria continues to face significant challenges in electricity access, with millions of households and businesses lacking a reliable power supply. Stakeholders at the launch noted that initiatives like GFiF are critical to mobilising long-term capital, reducing investment risk, and accelerating the deployment of clean energy solutions to power communities nationwide.

FCMB Asset Management Limited Rebrands Four Mutual Funds, Secures SEC Approval for Name Change of Mutual Funds




FCMB Asset Management Limited (FCMBAM), the Asset Management arm of FCMB Group Plc, announced that it has received approval from the Securities and Exchange Commission (SEC) for the execution of the supplemental Trust Deeds of the FCMBAM’s mutual funds. The approval includes the change of name of its Legacy mutual funds and reduction in the minimum subscription units of the Funds and follows the successful conclusion of unitholders’ meetings at which investors in each of the affected mutual funds voted in favour of the proposed changes.

The changes mark a deliberate step in FCMBAM’s ongoing brand consolidation, aligning the company’s public-facing products with the FCMBAM identity that has become synonymous with disciplined, transparent, and internationally benchmarked asset management services in Nigeria.

Fund Name Changes

With effect from the date of SEC approval, the following name changes are in full legal force:

Former Name New Name
Legacy Money Market Fund FCMBAM Money Market Fund
Legacy Debt Fund FCMBAM Debt Fund
Legacy Equity Fund FCMBAM Equity Fund
Legacy USD Bond Fund FCMBAM USD Bond Fund
Minimum Unit Subscription Revisions

Concurrent with the rebranding, FCMB Asset Management Limited (FCMBAM) has revised the minimum unit subscription thresholds for three of its mutual funds, as approved by the SEC and reflected in the supplemental Trust Deeds.

These changes are intended to make investing more affordable and accessible to a wider range of investors. The minimum subscription for the local-currency bond-based FCMBAM Debt Fund has been reduced from 25,000 units to 1,000 units, while the minimum subscription for the local-currency equity-based FCMBAM Equity Fund has been lowered from 10,000 units to 1,000 units, helping to reduce the barrier to entry for more retail investors. The revised threshold for the US Dollar bond-based FCMBAM USD Bond Fund has decreased from 1,000 units to 100 units and aligns with FCMBAM’s broader commitment to expanding access to dollar-denominated investment opportunities for retail investors. The FCMBAM Money Market Fund remains unchanged at a minimum subscription of 1,000 units.

“This rebranding is more than a name change; it is a statement of intent. It, once again, signals to the investment community that FCMBAM prioritises the democratisation of access to professional investment management services, in line with our Purpose of fostering inclusive and sustainable growth in the communities we serve. We thank our unitholders for their confidence in us all through this process and remain committed to delivering even stronger outcomes for our clients, under our refreshed identity.

James Ilori, Chief Executive Officer, FCMB Asset Management Limited

All existing investment positions, account records, and fund documentation will be updated to reflect the new names. Unitholders are not required to take any action. This change will have no impact on client investments, which will remain fully secure and unaffected. Further enquiries may be directed to FCMB Asset Management Limited through the contact details fcmbamenquiries@fcmb.com.

About FCMB Asset Management Limited

FCMB Asset Management Limited (FCMBAM) was established in 1997 to provide portfolio management and investment advisory services to individual and institutional clients.

The Company is a wholly-owned subsidiary of CSL Stockbrokers Limited, a member of FCMB Group Plc, one of Nigeria’s leading financial services holding companies. FCMBAM is licensed by the Securities and Exchange Commission (SEC), Nigeria, and is rated A(IM) by Agusto & Co and A2(NG) Short-term Issuer & A-(NG) Long-term Issuer by GCR. FCMBAM currently manages five Collective Investment Schemes, including Nigeria’s first local-currency Private Debt Fund, FCMB-TLG Private Debt Fund, and offers Discretionary and Non-discretionary Portfolio Management services.

A Festival, A City, A Continuum



Culture in southwest Nigeria is shifting from memory and ceremony into something more active, organised, shared, and increasingly tied to economic value. In Ibadan, that shift is taking shape in ways that are both grounded and forward-looking. The city, long defined by its seven iconic hills and layered histories, is drawing on its traditions and scale to rework how culture is lived, shared, and extended.

The 2026 edition of the Ibadan Cultural Festival, also known as the Oke Ibadan Festival, sits at the centre of this movement. Organised by the Central Council of Ibadan Indigenes, it unfolded over three weeks, not as a loose sequence of events but as a structured gathering where heritage meets enterprise, and where culture is both preserved and put to work.

Across the city, the effects were visible. From hilltop neighbourhoods to older quarters below, there was a steady rise in activity. Hotels received more guests, transport operators saw increased demand, and local markets, artisans, and small businesses recorded stronger patronage. Diasporans returned, drawn by memory and participation. The city moved across spaces, across communities, creating circulation that carried both meaning and value.

The festival’s design reflects this intent. Its programme covered culture, community, and enterprise: the Ibadan Conference and vocational programmes; community visits and historical tours tracing parts of the city’s geography; youth-focused events, stage plays, and sports competitions; education programmes and a business dinner. Alongside these, charity visits and medical outreach extended their social reach, while the grand finale anchored the experience in tradition.

Taken together, the festival created pathways, bringing people into the city, moving them through it, and opening spaces for interaction, exchange, and renewal.

Chief Kola Karim, Chairman of Shoreline Group and Agbaoye of Ibadanland, frames the festival as both a cultural expression and economic platform. “The festival is a celebration of the deep roots of our culture and a platform for driving economic activity in Ibadanland,” he said. “It reminds us of who we are and reinforces our responsibility to preserve our heritage, while also adding economic value.”

He points to partnerships as part of that effort. Speaking as Chairman of the grand finale, Chief Karim added, “Our partnership with First City Monument Bank (FCMB) is an opportunity to build together, weaving culture and tradition to benefit Ibadan and Nigeria. The next edition will broaden inclusion and deepen engagement.”

Ajeniyi Ajewole, President-General of the Central Council of Ibadan Indigenes, draws attention to the wider ripple effects. “The festival drives tourism, supports local businesses, and creates an opportunity for Ibadan indigenes in the diaspora to return, reconnect, and contribute to the city’s growth,” he said.

For Chief Bayo Oyero, the festival’s longevity speaks to its deeper role within the city. “Ibadan Cultural Festival is far more than a celebration. It is the heartbeat of our heritage, a bridge connecting our past to our present and future,” he said.

At the policy level, Governor Seyi Makinde, represented by Musibau Babatunde, Secretary to the Oyo State Government, signalled continued support. “Ibadan has remained a beacon of culture and tradition because of the unity among its people. We will continue to create opportunities that will elevate the festival to greater heights,” he said.

Ibadan’s strength lies in its authenticity. Its cultural assets—lineage systems, traditional institutions, and indigenous communities—are lived realities, shaped over time across its hills and settlements. The homage paid to the 44th Olubadan of Ibadanland, His Imperial Majesty, Oba Rashidi Ladoja, Arusa I, during the festival reflects that continuity.

This foundation opens into wider possibilities. The city’s landscape and heritage base position it for cultural tourism, from heritage trails to community-based experiences and local craft economies. What is emerging is not a departure from tradition, but a reorganisation of it—one that connects memory with movement, and identity with participation.

The 2026 festival stands as a marker of this shift. In Ibadan, culture is not held in place; it moves across its hills, through its people, and into new forms of expression and value.

FastCash When It Matters Most

……How Instant Digital Loans Help You Handle Emergencies

Tunde’s daughter was sent home from school because of unpaid fees. His salary was due in a week, but he couldn’t wait that long and simply couldn’t let his daughter miss classes. Like many of us, he reached out to friends and considered a traditional bank loan, but the endless paperwork, long waits, and uncertainty only made things more stressful. In moments like these, what truly matters is finding a fast, reliable solution, one that brings peace of mind.

Stories like this hit home. Urgent medical bills, overdue rent, or a critical business need, these financial emergencies can turn your life upside down in an instant. Yet, finding quick, hassle-free support can feel impossible, especially when you have no collateral and need help immediately. That’s when you need a solution you can trust: one that gets you back on your feet, fast.

That’s why instant digital loans are a game-changer. They’re designed for people who need immediate results. With just a few simple details on your mobile phone, you can apply and get an answer within minutes, no longer waiting in line or drowning in paperwork. It’s fast, easy, and puts you back in control when every second counts.

Digital loans don’t just offer speed; they offer real flexibility. Whether you need a little to cover an immediate gap or to bounce back from setbacks, digital loans let you address your needs without extra pressure. Plus, your responsible use now can strengthen your credit and open new doors. Why wait and worry when you can act and succeed?

If you need quick support, take action now: open the FCMB mobile app or visit digital channels to access FastCash funds instantly for school fees, rent, or unexpected expenses. Experience a simple process that puts you in control.

To make the most of digital loans, review your repayment terms, borrow only what you need, and plan your repayments. Take these steps to ensure you borrow responsibly and stay on track.

Emergencies can catch anyone off guard, but how you respond makes the difference. With a little planning and the right digital lending tools, those unexpected moments won’t keep you from moving forward. Take control, fast digital loans give you the speed, flexibility, and confidence you need, right when you need them most.

₦5m, ₦10m Zero-interest Loans: SheVentures Opens Applications for Women Entrepreneurs



First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure. Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively. Women-led enterprises are critical to economic activity, yet they face structural barriers. This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB). “By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”
Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.

Why Nigerian Publishers Must Rethink Revenue Models



For many Nigerian publishers, the model that once sustained journalism is no longer working. Advertising, long the backbone of print, radio, and television, has been declining. At the same time, the wider entertainment and digital media market is growing and is projected to reach $4.9 billion by 2026.

This creates a clear gap. The old revenue streams are shrinking, but new ones are emerging—driven largely by digital platforms and changing audience behaviour.

Today, revenue is no longer just about traditional ads. It includes earnings from platforms like Google through ad networks, creator payouts on X (formerly Twitter), and content monetisation on YouTube and Spotify. These channels reward reach, engagement, and consistency, but they also require a different way of thinking about content.

For publishers, this means shifting from a single-format approach to a multi-platform strategy—taking one piece of content and adapting it across video, audio, and text formats to reach audiences wherever they are.

This shift was the focus of The Monetised Content Masterclass, hosted by FCMB in partnership with BHM. The session brought together publishers across the ecosystem, including reporters, editors, bloggers, and content creators, to examine how to move beyond traditional revenue models.

One message came through clearly: financial sustainability now sits at the heart of editorial independence.

Discussions focused on how publishers can create real value, not just traffic or impressions, but content that travels well across platforms and can be monetised in different ways. This includes building direct audience relationships, forming the right brand partnerships, and using data to guide both content and commercial decisions.

Participants explored practical options such as paid memberships and subscriptions, branded content collaborations, and platform-based earnings. The emphasis was on execution, how to take what already exists and make it work harder across multiple channels.

Speaking at the session, Divisional Head, Corporate Affairs, FCMB Group, Diran Olojo, pointed to the need for a shift in mindset: “We are at a point where publishers must move from content production to platform thinking, building systems that can sustain value over time.”

For BHM’s CEO, Ayeni Adekunle, the issue is urgency: “The model has changed. The question now is whether the industry will adapt quickly enough to secure its future.”

Moderated by Fatu Ogwuche, the masterclass featured Fisayo Soyombo, Chris Ihidero, Jennifer Mairo, and Peter Oluka. Speakers shared practical insights, from repurposing content across formats to building audience loyalty and unlocking new revenue streams.

The takeaway was simple. Publishers can no longer rely on a single source of income. Growth will come from combining platform earnings, partnerships, and direct audience support, while making content work across multiple formats and channels.

For FCMB, the initiative reflects a clear commitment to supporting the growth and long-term sustainability of the media sector, given its role in informing the public, shaping opinion, and supporting national development.

Olukare of Ikare, Oba Akadri Momoh, and Council Endorse Balogun ATM for Senate 2027


His Royal Majesty, Oba Akadri Momoh, The Olukare of Ikare Land, alongside his Oba-in-Council of chiefs and elders, has endorsed Chief Abdul Tunji Mohammed (ATM), the Balogun of Ikare, for the Ondo North Senatorial seat in 2027.

The endorsement was announced on Monday at the Olukare’s Palace during Chief ATM’s courtesy visit. Oba Akadri Momoh described ATM as “a true son of Ikare” with the character and competence to represent Ondo North. “He respects tradition and has never turned his back on our people. He has our royal blessing,” the Olukare said.

Chiefs present echoed the monarch, citing ATM’s consistent support for education, healthcare, and empowerment in Akoko land as proof of his readiness.

Chief ATM thanked the Olukare and Council for the “sacred mandate,” pledging to make the welfare of Ikare and Ondo North his priority in the Senate. “In Abuja, the voice of Ikare will be loud, clear, and respected,” he said.

Our Approach to AI Adoption is Deliberate and Responsible – FCMB




Key players from across Nigeria’s financial services and technology landscape gathered at the recently concluded Business Day Fintech Summit 2026, held under the theme “The Next Financial Frontier: Intelligence, Infrastructure & Inclusion in Africa’s Digital Money Economy”. The summit served as a strategy for examining how innovation, data, and emerging technologies are reshaping the continent’s financial ecosystem.

Bringing together fintech leaders, financial institutions, and ecosystem partners, the conversations focused on advancing digital infrastructure, unlocking new opportunities through artificial intelligence, and driving broader financial inclusion across Africa’s evolving digital economy.

Speaking during a panel session titled “Intelligent Finance: How AI, Data and Automation are Rewriting Financial Services,” Blessing Ehize, Chief Technology Officer, FCMB, highlighted the transformative role of artificial intelligence in driving efficiency, personalisation, and smarter decision-making in banking.

“Artificial Intelligence is no longer a future concept; it is actively redefining how financial institutions operate. From improving risk assessment and fraud detection to enabling hyper-personalised customer experience, AI allows us to anticipate customer needs and respond in real time. The real value lies in how effectively we harness data to deliver smarter, faster, and more inclusive financial services.”

He also reaffirmed the Bank’s commitment to responsible innovation:

“At FCMB, our approach to AI adoption is deliberate and responsible. We are integrating AI in ways that enhance efficiency without compromising trust, customer privacy, or regulatory compliance. This is why FCMB is ISO42001 certified. Technology must work for the customer, not against them, and must always align with ethical standards and human oversight.”

Speaking further, he emphasised FCMB’s alignment with global best practices:

“The intersection between what we do at FCMB, and global financial best practices lies in our ability to balance innovation with resilience. Globally, AI is taking centre stage, whether you are a bank or not. It is coming to enable businesses and change lifestyles. We are building systems that are not only intelligent but also secure, scalable, and inclusive, ensuring that as we advance technologically, we bring more people into the financial ecosystem.”

As digital transformation accelerates across Africa, FCMB continues to invest in cutting-edge technologies and data-driven insights to enhance service delivery and expand access to financial services in an ethical and responsible manner.

Sam Pharmaceuticals Opens WHO-Standard Factory in Nigeria with FCMB, BoI Support



Sam Pharmaceutical Limited has opened a new manufacturing facility in southwestern Nigeria, expanding local drug production capacity as the country pushes to reduce reliance on imported medicines.

The plant, located in Ota, Ogun State, meets World Health Organisation (WHO) Good Manufacturing Practice (GMP) standards and was financed with support from First City Monument Bank (FCMB) and the Bank of Industry (BoI).

The facility has the capacity to produce more than 400 million tablets, 50 million capsules, two million bottles of syrup, and one million pouches each month, according to the company.

Nigeria has been seeking to boost domestic pharmaceutical manufacturing following supply chain disruptions during the COVID-19 pandemic that exposed vulnerabilities in its import-dependent supply chain.

Minister of State for Health, Adekunle Salako, said at the commissioning on April 8 that the project aligns with the government’s drive to expand local pharmaceutical production and reduce reliance on imports.

Ogun State Deputy Governor Noimot Salako-Oyedele said the factory would support job creation and economic activity in the state, while improving access to essential medicines.

Director General of the National Agency for Food, Drug Administration and Control (NAFDAC), Mojisola Adeyeye, described the facility as a reflection of growing compliance with global standards in Nigeria’s pharmaceutical sector.

Managing Director and Chief Executive Officer, First City Monument Bank, Yemisi Edun, said the bank supported the project through a ₦3 billion term loan in partnership with the Bank of Industry, alongside more than ₦3.2 billion in working capital. She said the financing reflects the bank’s focus on supporting local manufacturing and strengthening critical sectors of the economy.

Sam Pharmaceuticals Chairman and Chief Executive Officer Amit Bhojwani said the new plant would scale production and position the company more strongly in Nigeria’s branded generics market.

Founded in 1971, Sam Pharmaceutical Limited produces more than 120 NAFDAC-approved medicines and operates in Ilorin, Kwara State, and Ogun State.

Ginger, FCMB SheVentures Unveil “Built to Last” Programme for Women Beauty Entrepreneurs


Ginger is teaming up with FCMB SheVentures to launch Built to Last, a year-long programme to help women-led beauty businesses across Nigeria grow stronger, learn new skills, and prepare to advance to the next stage, such as scaling, formalising operations, or accessing funding opportunities.

If you run a beauty or personal care business, this programme is for you. We’ll help you build a business that lasts, with practical training, support to formalise your business, financial know-how, and better access to digital tools.

Ginger connects beauty businesses with trusted suppliers and provides access to tools such as financing, logistics, and inventory management. Thousands of beauty entrepreneurs already use Ginger to find the right products and keep their businesses running smoothly.

By working together, Ginger and SheVentures are making it easier for women-led beauty businesses to get the support, funding, and guidance they need to grow.

Speaking on the collaboration, Founder & CEO of Ginger, Ejiro Enaohwo, said, “The women powering the beauty economy already have the demand, the discipline, and the customer trust. What they have not always had are the systems that recognise their businesses as investable and scalable. This partnership is about building those systems."

This partnership is part of our ongoing commitment to help women entrepreneurs succeed and drive inclusive growth.

“At SheVentures, we believe empowering women entrepreneurs is one of the fastest ways to drive sustainable economic development. Through our initiatives, we have provided funding, training and mentorship to thousands of women-owned businesses across Nigeria. Built to Last represents another step forward in equipping female entrepreneurs—particularly in the beauty sector—with the knowledge, capital readiness and networks they need to scale their businesses successfully.”

Women are at the heart of Africa’s beauty industry, but many still lack access to the training, support, and funding they need. Built to Last is here to help change that.

By bringing together Ginger’s experience in the beauty trade and our financial know-how, we’re building real support for beauty entrepreneurs to grow their businesses for the long term.

Applications now open

If you run a beauty business in Nigeria - whether you own a retail store, run a salon, work as an aesthetician, or are just getting started - you can now apply to join Built to Last.

Participants will receive hands-on training, practical support, and the opportunity to prepare their businesses for future funding opportunities.

To apply, visit: http://www.gingerme.io/builttolast

Applications close: 10th May,2026

FCMB Taps Cultural Economy to Drive Inclusion at 2026 Ibadan Festival


First City Monument Bank (FCMB) is positioning culture as an economic engine, leveraging platforms such as the Ibadan Cultural Festival to support small businesses, deepen inclusion, and connect local enterprises to broader markets.

As a lead partner in the festival organised by the Central Council of Ibadan Indigenes (CCII), the Bank said cultural gatherings are fast becoming viable commercial ecosystems, bringing together thousands of vendors, creatives, and service providers to drive real economic activity.

Speaking at a press conference in Ibadan, FCMB’s Divisional Head of Corporate Affairs, Diran Olojo, said the Bank’s approach is to enable participation, support business growth, and capture transaction flows within these ecosystems.

“We see culture as a functioning marketplace. Events like this concentrate demand, talent, and enterprise in one place. Our role is to help businesses plug into that, through access to finance, visibility, and the systems that support transactions and growth,” he said.

He noted that the festival stimulates activity across hospitality, retail, transport, and the creative sector, while also attracting diaspora engagement that strengthens remittance flows and local investment.

The Ibadan Cultural Festival, also known as Okebadan, attracts residents, indigenes, and visitors, driving a surge in commercial activity across the city.

President-General of the CCII, Barrister Ajeniyi Ajewole, said the festival has become both a cultural and economic platform.

“It drives tourism, supports local businesses, and creates an opportunity for Ibadan indigenes in the diaspora to return, reconnect, and contribute to the city’s growth,” he said. He added that FCMB’s involvement reflects growing private sector interest in culture-led development.

Chairman of the Planning Committee, Mogaji Gbolagade Akere, said the 2026 edition is structured to strengthen Ibadan’s profile as a tourism and investment destination, with activities that combine cultural expression and economic engagement.

FCMB said its involvement reflects a broader strategy to build ecosystems that connect informal and small-scale businesses to finance, markets, and opportunities for scale.

Meet Chief Abdul Tunji Mohammed (ATM): A Proven Leader for Ondo North

Chief Abdul Tunji Mohammed (ATM) is a dynamic leader who has imparted Ondo North Senatorial District with his expertise in Banking, Finance, Real Estate, and Infrastructure. He's created jobs, stimulated economic growth, and inspired entrepreneurship, laying a solid foundation for continued development.

As the Balogun of Ikare Land and a respected APC Chieftain, ATM blends tradition with a forward-thinking vision. His achievements include:

- *Infrastructure Development*: Improved roads, water access, and energy; plans to expand these services to rural areas and boost connectivity

- *Education*: Free JAMB forms, scholarships, skill acquisition programs; renovating schools and equipping them with modern facilities

- *Healthcare Access*: Facility support and medical outreach initiatives; plans to establish more healthcare centers and improve emergency services

- *Youth Empowerment*: Job creation and entrepreneurial support; mentorship programs to guide young entrepreneurs

- *Economic Growth*: Attracted investments and supported local industries; promoting agribusiness and tourism

- *Palliative Support*: Food items and cash for stomach infrastructure; ongoing support for vulnerable communities

- *Agricultural Development*: Supported farmers and promoted food security initiatives; introducing modern farming techniques

- *Women Empowerment*: Advanced economic opportunities and social inclusion; training programs for women entrepreneurs

ATM's leadership is inclusive, transparent, and results-driven. His track record of service and accountability sets him apart. With Chief ATM, Ondo North is on the path to sustainable growth, economic prosperity, and improved quality of life.

Let's continue supporting Chief ATM's mission to elevate Ondo North and build a brighter future for all.

Signed:
ATM Campaign Council

Lagos, World Bank, FCMB Advance $500m Drive for Inclusive Education and Healthcare



In classrooms and primary health centres across Lagos, a quiet shift is underway, one that is beginning to change how public services are delivered and experienced. The Lagos State Government, the World Bank and First City Monument Bank (FCMB) are advancing the Human Capital Opportunities for Prosperity and Equity–Governance (HOPE-GOV) programme. This $500 million initiative is designed to strengthen the systems behind basic education and primary healthcare in Nigeria.

Backed by the Federal Government and operating across all 36 states and the Federal Capital Territory, the programme focuses on improving resource management and outcome measurement. Funding is tied not to plans, but to verified progress. For Lagos, the shift is already taking shape.

At a public presentation on the state’s progress in implementation, Governor Babajide Sanwo-Olu pointed to early gains. He highlighted improvements in education and healthcare delivery, driven by a shift from input-based spending to performance-led outcomes.

“For us in Lagos, this is about people,” he said. “It is about ensuring that a child has access to the right learning materials, that a mother receives quality care at a primary health centre, and that public resources are managed transparently for all to see.”

The changes are rooted in systems that are less visible but more decisive procurement processes that work, funding that follows results, and institutions that are held to clear standards.

According to Akin Onimole, Senior Procurement Specialist at the World Bank, the programme addresses long-standing structural gaps in service delivery. He noted that Lagos has shown a strong commitment to strengthening its procurement and institutional frameworks. These efforts help translate reform into practical outcomes.

FCMB supports the programme’s fund flows. The bank says its role reflects a broader commitment to expanding access and opportunity.

“We are working with our partners to open up more opportunities for children and communities,” said Yemisi Edun, Managing Director/Chief Executive Officer of FCMB. “By supporting education and primary healthcare, we are contributing to a system where more people can participate and progress.”

Since 2025, HOPE-GOV has united government and private sector capacity around one goal: improving human capital to make public systems work better. The key results will take time to fully materialise, but the direction is clear—stronger systems, deeper accountability and services that deliver consistent value to people.

FCMB Links Value-chain Coordination to Improved Food Security

Stakeholders across Nigeria’s agriculture sector called for stronger coordination across the value chain to improve productivity and food security at the BusinessDay Future of Agriculture Conference held in Lagos.

The conference, themed "From Seed to Feed: Strengthening Agricultural Inputs for Food Security," brought together policymakers, agribusiness operators, financial institutions, and development partners. They discussed constraints in input systems, financing, and infrastructure.

Participants included Lagos State Commissioner for Agriculture and Food Systems, Abisola Olusanya, who represented Governor Babajide Sanwo-Olu; Special Adviser on Agriculture and Food Systems, Oluwarotimi Fashola; Chief Executive Officer of Babban Gona, Kola Masha; and Group Chief Executive Officer of AFEX, Ayodeji Balogun, who delivered a keynote on improving farmers’ access to quality inputs to boost food production.

During a panel session at the conference, Kudzai Gumunyu, Divisional Head, Agribusiness and Non-Oil Export at First City Monument Bank (FCMB), said financial institutions have a central role in supporting Nigeria’s largely smallholder-driven agricultural sector.

“With smallholder farmers accounting for nearly 90% of Nigeria’s agricultural production, the focus must be on building inclusive financing models that address their unique realities. This means strengthening risk mitigation frameworks through structured guarantees and partnerships that de-risk lending while ensuring farmers have access to the capital they need to grow.”

He said a structured, value-chain-led approach would improve outcomes. This would benefit production, aggregation, and market access.

“Sustainable agricultural growth requires coordinated value chain mobilisation, where financial institutions effectively channel funds from depositors into well-structured agricultural value chains. By aligning financing with production, aggregation, and market access, we can unlock productivity, improve yields, and ultimately strengthen food security outcomes.”

Discussions at the conference also focused on improving access to quality inputs, expanding infrastructure, and strengthening collaboration between public- and private-sector participants.

FCMB said it will continue to support agribusiness and non-oil exports through partnerships aimed at improving access to finance and building more resilient agricultural systems.

Oyo State, FCMB, Mastercard Foundation Disburse ₦1.5 billion to Youth Farmers



Oyo State Government and First City Monument Bank (FCMB) have supported 1,000 young agripreneurs to boost food production and support youth-led businesses by disbursing ₦1.5 billion in collateral-free loans. This impact was made possible through the Easylift programme, in partnership with the Mastercard Foundation.

The funding combines ₦500 million from the state government with ₦1 billion (one billion naira) deployed through the Easylift programme. The agripreneurs initiative falls under the Youth Entrepreneurship in Agribusiness Project (YEAP) and the Sustainable Actions for Economic Recovery (SAfER) programme.

Governor Seyi Makinde said the programme is designed to build long-term economic capacity rather than provide one-off financial support.

“This is about reinforcing a system,” Makinde said at the disbursement event held at the Fasola Agribusiness Industrial Hub. “Sustainable development depends on deliberate structures that connect training with enterprise and access to finance.”

The programme connects agribusiness training to funding and ongoing support, establishing a clear link between developing skills and progressing to commercial activity.

Debo Akande, Director-General of the Oyo State Agribusiness Development Agency, said more than 5,000 young people have been trained so far. Beneficiaries of the current phase received initial funding of about ₦1.5 million each, with the potential to access up to ₦50 million based on business performance.

“This is structured to move participants from learning into a scalable enterprise,” Akande said.

Yemisi Edun, Chief Executive Officer and Managing Director of FCMB, said the partnership reflects the bank’s focus on agriculture as a growth driver.

“Agribusiness remains a key pathway to economic growth,” Edun said. “Working with public and development partners allows us to combine financing with the support needed for businesses to grow.”

The YEAP and SAfER programmes form part of Oyo State’s broader development plan to reduce unemployment and strengthen food systems through youth participation.

The partners expect the initiative to support job creation, improve livelihoods, and advance inclusive economic growth.

Irele Tower Opens, Adds EDGE-Certified Green Offices in Lekki



Irele Tower has opened at Lagos Free Trade Zone, adding office capacity as the Lekki corridor expands and Nigeria attracts new investment, with a focus on resource-efficient design.

The nine-storey development delivers about 12,000 square metres of office and retail space within the zone, positioning Lagos Free Trade Zone to meet rising demand from local and international firms seeking proximity to port, logistics and industrial infrastructure.

Designed as an EDGE-certified building by the International Finance Corporation (IFC), Irele Tower incorporates measures to reduce operating impact and costs. The building is engineered to use about 26% less energy and 46% less water than conventional structures, alongside features aimed at improving indoor environmental quality for occupiers.

Lagos State Governor Babajide Sanwo-Olu said the project reflects the state’s infrastructure-led growth strategy and its drive to strengthen Lagos as an investment destination, adding that the Lagos Free Trade Zone continues to support industrialisation, job creation and economic diversification.

Adesuwa Ladoja, Managing Director of Lagos Free Zone Company, said the tower aligns with the zone’s focus on building an integrated business environment anchored on infrastructure, location, and logistics. She added that demand for high-quality, efficient workspaces has increased alongside investor interest in the Lekki axis.

Yemisi Edun, Managing Director and Chief Executive Officer of First City Monument Bank (FCMB), said the bank’s early backing of the project reflects confidence in the long-term potential of the zone. She added that Irele Tower demonstrates coordinated financing and development, and that FCMB remains positioned to support growth following its recapitalisation.

The Lagos Free Trade Zone continues to evolve as a hub linking industry, trade, and services. The addition of Irele Tower expands its commercial footprint while advancing the adoption of sustainable building standards in the corridor.

FCMB Capital Markets tops FMDQ Sponsors’ League Table in 2025 with ₦1.53 trillion in Debt Capital Market Transactions



FCMB Capital Markets Limited, the investment banking arm of FCMB Group Plc, raised ₦1.53 trillion in corporate debt capital through bond listings and commercial paper quotations on FMDQ Securities Exchange Limited in 2025, and ranked first on the exchange’s Fixed Income Primary Markets Sponsors’ League Table for the year ended December 31, 2025.

The exchange’s report shows FCMB Capital Markets led overall sponsor contributions across the bond listings and commercial paper quotation markets during the year.

In the bond market, the firm accounted for 11.66% of total listings, for the top spot. In the commercial paper market, FCMB Capital Markets achieved the highest share of quotations at 7.68%, outpacing other registration members in that segment.

The exchange reported that 58 registration members participated in listings and 77 in quotations. During the period under review, 47 institutions actively sponsored fixed-income securities listings or quotations, excluding Federal Government securities.

“Our ranking reflects the confidence issuers place in our ability to structure and execute capital market transactions,” said Femi Badeji, Executive Director, Coverage and Investment Banking at FCMB Group Plc.“Mobilising more than ₦1 trillion in a single year demonstrates the depth of demand for capital market funding and the role we play in connecting issuers with long-term investors.”

Ikechukwu Omeruah, Chief Executive Officer of FCMB Capital Markets Limited, said the firm remains focused on helping corporates access both long-term and short-term funding through the capital markets.

“Achieving this position reflects the work of our team and the trust of our clients. We remain committed to structuring financing solutions that enable businesses to raise capital efficiently while contributing to the continued development of Nigeria’s fixed-income market,” he said.

Over the past five years, FCMB Capital Markets has participated in several debt and equity transactions across sectors, including oil and gas, power, real estate, financial services, consumer goods and telecommunications. The firm was named Corporate Bond House of the Year by the Association of Issuing Houses of Nigeria at the 2025 Investment Banking Awards.

FCMB Capital Markets advises on debt, equity, project finance, Mergers & Acquisitions, and restructuring.

FCMB Limits Exposure in Fraud Attempt


More than ₦3 billion was targeted, but about ₦677 million reached the culprits, with recovery and prosecutions underway, reflecting how banks are responding to more sophisticated fraud risks.

Nigeria’s expanding digital banking sector is facing increasingly sophisticated fraud attempts, as financial institutions adapt to faster transactions and broader online services.

A recent case involving First City Monument Bank (FCMB), linked to fraudulent activity detected in December 2025, has drawn attention to how banks are responding to such incidents, with a focus on limiting exposure, recovering funds and working with law enforcement.

According to findings referenced in proceedings before the Lagos State Special Offences Court, the incident involved unauthorised transactions tied to a digital product. Early reports erroneously suggested more than ₦3 billion was lost. Subsequent clarification shows that over ₦3 billion was targeted, ₦2.4 billion was blocked and recovered, while ₦677 million got into the possession of the culprits. This outcome reflects the bank’s cyber security and monitoring capabilities, as well as improved collaboration among regulated financial institutions and with law enforcement agencies. Several suspects and beneficiaries have been apprehended, while recovery and prosecution efforts are ongoing, led by the Economic and Financial Crimes Commission (EFCC).

Proceedings at the Lagos State Special Offences Court have resulted in convictions, including that of a repeat offender, with restitution orders issued. Related matters are also being handled at the Federal High Court in Lagos, where additional suspects are being tried in connection with the scheme. This process is aimed at ensuring that bad actors are identified and permanently blacklisted from the financial system.

Authorities say recovery efforts are continuing as additional funds are traced.

Analysts note that the pace of legal action reflects closer coordination between financial institutions and enforcement agencies in addressing cyber-related financial crime.

The case comes as banks contend with more complex fraud methods, including social engineering and automated exploitation of system processes.

As digital products and platforms expand, so too does the risk associated with cyber-crime and related fraud.

“The scale of digital banking means risks are evolving alongside the systems,” said a Lagos-based financial analyst. “Institutions are now judged by how they manage these events.”

Observers say the sector is moving toward a stronger focus on response and recovery, rather than prevention alone.

This includes improving monitoring capabilities, strengthening transaction controls and enhancing collaboration with regulators and law enforcement. The FCMB case, with limited exposure relative to the amount targeted and ongoing recovery, reflects that shift.

For customers, the primary concern is the safety of their funds. In this case, there has been no indication of losses affecting customer deposits. Maintaining that level of protection remains central to sustaining trust in the financial system.

Nigeria’s financial sector continues to grow, supported by digital innovation and expanding access to banking services.

However, analysts say fraud attempts are likely to persist as systems become more complex and interconnected.

They say institutions will increasingly be judged not only on their ability to prevent incidents, but on how effectively they respond and recover when they occur.

FCMB Completes ₦500 Billion Recapitalisation, Retains International Banking Licence



FCMB Group Plc has completed the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and has secured its international banking licence after obtaining all required regulatory approvals.

The Group raised more than ₦400 billion through a series of transactions, including public equity offerings, a convertible instrument, and a minority divestment in one of its subsidiaries.

The Nigerian financial services group raised ₦144.6 billion through a public offer in July 2024. The offer was oversubscribed by 33% and drew about 42,800 investors. About 92% of the subscriptions were completed through digital channels, including the FCMB mobile banking application.

FCMB also raised ₦22.7 billion through a mandatory convertible note and realised ₦11 billion from a minority divestment in FCMB Pensions Limited.

A second public offer launched in October 2025 raised ₦231.8 billion and was oversubscribed by 50.5%. It attracted more than 25,800 investors, with the capital raised almost entirely in Nigeria, reflecting the depth of the domestic capital markets.

Following the completion of these transactions and receipt of regulatory approvals, First City Monument Bank Limited has fully met the ₦500 billion minimum capital requirement for an international banking licence.

Group Chief Executive Ladi Balogun said the recapitalisation strengthens the institution’s capital base and positions the group for its next stage of expansion.

"The recapitalisation programme positions the Bank for the next phase of growth. With a strengthened capital base and our international banking licence secured, we plan to expand our regional presence, deepen technology capabilities, and continue to build our ecosystem," Balogun said.

"We remain committed to fostering inclusive, sustainable growth in the communities we serve, from Nigeria to the rest of Africa and increasingly, to the wider global community. We thank our shareholders, investors, the Central Bank of Nigeria, the Securities and Exchange Commission, the Nigerian Exchange Limited, and the National Pension Commission for their support in achieving this milestone."

The capital raise forms part of FCMB’s strategy to strengthen capital adequacy and support expansion across its banking and financial services operations. The strengthened capital base and improving earnings momentum position the group to expand its regional footprint and pursue new growth opportunities across its markets.

FCMB shares gain momentum on NGX as investor interest builds


FCMB Group Plc has been enjoying strong momentum on the Nigerian Exchange (NGX), drawing growing attention from retail and institutional investors alike. FCMB shares currently trade at ₦12.35/share (as of 23 February 2026)—up from its 52-week low of ₦8.35/share, reflecting steady market confidence in the Group’s strategy and earnings outlook.

The positive sentiment is not happening in isolation. Nigeria’s banking sector is undergoing recapitalisation and strategic repositioning, prompting investors to gravitate toward banks with clear growth plans and diversified income streams. FCMB’s multi-subsidiary model — spanning Banking, consumer finance, asset management, and investment banking — continues to position it as a resilient mid-tier player.

What makes FCMB particularly attractive to some savvy investors is its valuation upside potential. FCMB currently trades a Price-to-Book Value (P/BV) ratio of 0.6x, a significant discount to peers such as Fidelity Bank (1.0x), Sterling Bank (1.0x), and Wema Bank (1.7x).

While some peers have already seen sharp price rallies, FCMB still trades at a relatively accessible price point, leaving room for appreciation as earnings and capital plans continue to strengthen. The Group’s focus on SME banking, digital innovation, renewable energy financing and women-focused initiatives such as SheVentures also aligns with high-growth segments of the Nigerian economy.

Of course, every equity investment carries risk, and market conditions can change quickly. But for investors seeking exposure to Nigeria’s evolving banking story — especially within the mid-tier segment — FCMB stock is increasingly being viewed as one to watch closely.

Smart investors do their homework. The market is moving — and FCMB is firmly in the conversation

Bank recapitalisation activity remained relatively sober this week as banks continue preparations ahead of the March 31, 2026, regulatory deadline. Market attention is currently focused on institutions progressing through validation and capital confirmation processes with the Central Bank of Nigeria (CBN).

FCMB Group is reportedly undergoing CBN validation to confirm whether it has met its recapitalisation target. Should the verified capital fall short of regulatory requirements, the Group may consider a private placement to a strategic investor(s). Conversely, a successful validation outcome would likely prompt a formal announcement confirming compliance with the minimum capital requirement threshold.

Meanwhile, analysts are awaiting further clarity from Sterling Bank regarding its recapitalisation plans. Market expectations suggest the bank could pursue a rights issue or a private placement to meet the N200bn minimum capital requirement, given its current capital of N167bn.

Last week, GTCO Plc proceeded with a N10.0 billion private placement, issuing 125.0 million ordinary shares at N80.00 per share, which a single investor fully subscribed. Analysts interpret the transaction as a proactive capital optimisation strategy rather than a regulatory necessity, designed to enhance balance-sheet flexibility, reinforce capital buffers, and support medium-term growth initiatives. The successful placement underscores sustained investor confidence and suggests that GTCO is positioning itself ahead of evolving regulatory, macroeconomic, and competitive pressures in the banking sector.

First HoldCo Plc’s FY 2025 unaudited results, released over the weekend, highlight the strain that asset quality challenges can impose on the bottom line. The reporting period was marked by significant balance-sheet pressure, driven by an impairment charge that weighed on earnings. While the move reflects a deliberate effort to reset the loan book and address underlying credit risks, it came at the cost of near-term profitability. The results reinforce the sensitivity of capital buffers to abrupt risk crystallisation and underline the importance of early capital planning, strong governance, and timely balance-sheet remediation as regulatory expectations tighten.

Beyond individual balance-sheet actions, market intelligence during the week pointed to unconfirmed speculation about a potential strategic merger between two tier-1 banks and possible bank-led investments in Nigeria’s refinery and broader energy infrastructure. While these developments remain speculative, they signal growing interest among banks in diversification strategies.

The recapitalisation momentum was further broadened by the CBN’s latest Fintech Report, which highlights the expanding role of digital finance in Nigeria’s financial system. The report underscores the fintech sector’s contribution to financial inclusion, payment efficiency, and innovation, while also identifying funding constraints and the need for regulatory alignment to support sustainable growth. For banks, the findings reinforce the strategic importance of balancing competitive pressures from fintechs with partnership opportunities that can enhance operational efficiency and product reach.

Progress and Challenges Across the Banking Spectrum from Previous Weeks

Union Bank: Prospective foreign investment interest, particularly from the United Arab Emirates (UAE), has been reported. A lingering legal dispute involving a former core investor, the TGI Group, is expected to be resolved soon, leaving a tight window to complete capital restructuring.

Keystone Bank: Competing investor interest includes a local consortium seeking preferred-bidder status. While local investors' capacity to raise capital independently remains questionable, market awareness of foreign investors' interest suggests a possible joint acquisition, though the move appears less likely.

Polaris Bank: Expected to pursue investor-led recapitalisation or merge with another Tier-2 bank, which market intelligence suggests is Wema Bank, a move analysts view as supportive of broader industry consolidation and institutional strengthening.

Proshare’s Economic & Market Intelligence Unit (EMIU) notes that the CBN appears receptive to mergers and acquisitions involving banks with marginal or negative shareholder funds as a strategic pathway to build larger, more resilient institutions. While domestic investors continue to express interest in distressed banks, capacity constraints for meeting unencumbered capital requirements independently suggest that strategic foreign partnerships may be necessary.

For banks listed on the Nigerian Exchange Limited (NGX), capital-raising outcomes have varied. With less than two months to the deadline, most Tier-1 and Tier-2 banks have met revised capital buffers. However, Tier-3 banks are in a race to avoid forced combinations and remain relevant in the post-recapitalisation landscape.

Other Updates Include:

FirstHoldco announced that its commercial banking subsidiary, FirstBank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500bn. This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.

Access Holdings Plc has successfully raised N594.90bn in its ongoing recapitalisation exercise.

Sterling Financial Holdings Company successfully raised a total of N88.07bn in the Public Offer as of September 30, 2025. Proceeds from the offer are expected to bolster Sterling Bank Limited's capital adequacy, provide capital for SterlingFi Wealth Management, and fund the Group’s broader strategic expansion plans.

UBA recently raised about N157.84bn in additional capital, pending approval from the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN).

The Rights Issue will strengthen UBA’s capital position ahead of the CBN’s recapitalisation deadline.

Meanwhile, Standard Chartered Bank Nigeria Limited and other unlisted banks have similarly announced compliance with the N200bn minimum capital requirement for national commercial banks, ahead of the March 31, 2026, deadline.

We maintain that investors evaluating banking-sector stocks consider each bank's new equity capital, earnings growth potential, and the likely twelve-month forward earnings per share (EPS) and price-to-earnings ratio (P/E). Proshare’s EMIU expects earnings per share (EPS) of several banks to fall in the short term. It is also likely that price-to-earnings (P/E) ratios may rise significantly as EPS takes a soft or hard tumble, depending on future earnings growth (Proshare)