FCMB Group Plc has announced the successful completion of its public offer, marking a major step toward meeting the N500 billion capital requirement set by the Central Bank of Nigeria (CBN) for commercial banks under the 2024–2026 recapitalisation programme.
The disclosure was made in a notice submitted to the Nigerian Exchange (NGX) at the weekend, coming at a time when banks are intensifying efforts to satisfy the CBN’s March 2026 deadline.
In addition to the concluded public offer, FCMB confirmed it is on course to finalise the sale of a minority stake in one of its subsidiaries by the end of December.
“We have successfully concluded our public offer and are on track to complete the minority subsidiary sale by the end of December. Subject to CBN capital verification (currently ongoing), shareholder approval at the EGM, and the required regulatory consents, we are positioned to deliver the N500bn capital target ahead of the March 2026 deadline for our banking subsidiary, FCMB Limited,” the Group stated.
The latest update follows FCMB’s N160 billion public offering launched in October 2025, offering 16 billion ordinary shares at N10 each. The offer closed on November 6 and forms part of the second phase of the bank’s multi-stage recapitalisation strategy.
FCMB said the successful offer underscores investor confidence in the Group’s financial stability and long-term strategy.
According to the company, the strong response reflects “expanding margins, increased customer activity, and scalable digital growth,” which continue to support both profitability and capital strength heading into 2026.
The bank’s recent capital-raising momentum builds on the oversubscribed N147.5 billion offer of 2024, which saw 42,800 investors participate—92 per cent via digital channels. Analysts note that the high digital subscription rate signals growing market trust in digital investment platforms and FCMB’s fintech-enabled distribution strategy.
Financial analysts have praised FCMB for taking early and deliberate steps to meet regulatory requirements.
Lagos-based banking analyst, Oluwaseun Adekoya, said: “FCMB’s ability to conclude two major offers within 18 months shows disciplined execution. Banks that act early will avoid last-minute pressure as the 2026 deadline approaches.”
Another capital markets expert, Chidinma Eze, noted that the Group’s multi-layered recapitalisation strategy—public offers, convertible loans, and strategic asset sales—positions it well ahead of many mid-sized competitors.
“FCMB is demonstrating strategic foresight. Completing capital raising ahead of schedule 4gives it room to strengthen lending capacity and expand digital services,” she said.
