FCMB Group has officially secured its position as an international banking entity after meeting the N500 billion minimum capital requirement mandated by the Central Bank of Nigeria.
This achievement marks a significant transition from its previous national license status, which required a lower threshold of N200 billion. By completing this capital raise ahead of the March 2026 deadline, the bank joins an elite group of Nigerian financial institutions authorized to maintain and expand operations across global markets.
The Group Chief Executive of FCMB Group, Ladi Balogun, confirmed that the successful recapitalization was facilitated through a series of strategic financial moves.
These included a 2025 Public Offer that generated approximately N231.8 billion in gross proceeds, alongside the divestment of a 10% stake in FCMB Pensions Limited which contributed an additional N11 billion.
When combined with the bank’s verified eligible capital of N266.5 billion as of late 2025, the total exceeds the half-trillion naira mark required for international licensure.
According to data released by the Central Bank of Nigeria, the industry-wide recapitalization exercise is progressing steadily.
As of March 6, 2026, 30 banks have already met the new minimum capital requirements for their respective license categories. While FCMB now stands alongside Zenith Bank, Access Bank, First Bank, GTBank, UBA, and Fidelity Bank as the seventh international license holder, other institutions are opting for different tiers. National license holders must maintain N200 billion in capital, while regional and merchant banks are required to hold N50 billion. Non-interest banks operating nationally or regionally must meet thresholds of N20 billion and N10 billion, respectively.
The apex bank has assured the public that the Nigerian banking system remains sound and stable throughout this transition.
For customers of banks still finalizing their capital positions, the regulatory framework ensures that no licenses will be abruptly withdrawn. Instead, banks that do not meet their target thresholds may undergo mergers, acquisitions, or license downgrades to ensure continued service and financial integrity.