FBN Holdings shareholders approve N253.1bn fresh capital

The shareholders of FBN Holdings Plc (First Holdco) have officially approved a fresh capital injection of N253.1 billion, a strategic move aimed at elevating the financial institution’s paid-up capital to a staggering N1 trillion.

This monumental decision was finalized during the group’s 14th Annual General Meeting on May 29, 2026, marking a pivotal milestone in its long-term growth and capital restructuring strategy.

To secure this funding, the company’s board of directors has been granted the authority to deploy a versatile array of financial mechanisms in both local and international capital markets.

The capital injection will be realized through a flexible combination of public offerings, private placements, rights issues, bonus issues, and scrip dividends, structured across multiple tranches and series as determined by market conditions and regulatory clearances.

This diverse approach ensures that the institution can optimize its pricing strategy, utilizing book-building processes and advanced valuation techniques to achieve maximum value.

This newly approved funding bridges the remaining financial gap required to hit the N1 trillion target for combined share capital and share premium.

By positioning its capital base at this level, First Holdco is effectively doubling the Central Bank of Nigeria’s mandatory N500 billion minimum threshold for institutions holding international banking licenses.

This aggressive capitalization strategy not only fortifies the group’s balance sheet but also significantly alters the competitive dynamics among Nigeria’s Tier-1 banking peers, establishing a formidable capital benchmark within the broader African financial services industry.