First City Monument Bank (FCMB) Secures Recapitalisation Milestone & Drives Economic Inclusion Through Strategic Capital Decisions
Lagos & Abuja, Nigeria — First City Monument Bank (FCMB) — one of Nigeria’s leading commercial banks and a key player in financial inclusion and economic development — has recently recorded important regulatory and capital market milestones that demonstrate its resilience, investor confidence, and commitment to supporting the Nigerian economy.
FCMB Clears N200bn Licensing Hurdle Ahead of March 2026 Recapitalisation Deadline
In January 2026, FCMB Group Plc announced that its flagship banking subsidiary, First City Monument Bank Limited, successfully secured the local national banking licence by meeting the Central Bank of Nigeria’s (CBN) minimum paid‑up capital requirement of ₦200 billion under the ongoing recapitalisation programme. This strategic achievement enables FCMB to maintain uninterrupted national banking operations as it continues to work toward meeting higher thresholds required for an international licence.
The licence clearance reflects FCMB’s strengthening capital base and proactive compliance with evolving regulatory frameworks — a foundation that supports economic stability, greater lending capacity, and deepened financial inclusion for Nigerians nationwide.
Shareholders Approve Up to ₦400bn Fresh Capital Raise to Support Growth Strategy
In late December 2025, shareholders of FCMB Group Plc granted approval for the bank to raise up to ₦400 billion in fresh capital during an Extraordinary General Meeting. The expanded capital raise — aimed at meeting the CBN’s international banking licence requirements — underscores stakeholders’ confidence in FCMB’s long‑term growth trajectory and strategic vision.
According to group leadership, the additional capital will be deployed to enhance capital adequacy ratios, invest in human capital and technology, support regional expansion, and improve profitability — positioning FCMB for sustainable performance and strong shareholder returns in the coming years.
Why These Developments Matter for Nigeria’s Growth and Financial Sector
Regulatory Confidence & Stability:
Achieving the CBN’s capital threshold ahead of the deadline signals FCMB’s financial strength and operational stability, bolstering confidence among customers and investors.
Expanded Support for Economic Activity:
A stronger capital base enhances the bank’s ability to lend to businesses, support SMEs, and finance infrastructure projects — critical to driving economic activity and job creation across the country.
Strategic Growth Orientation:
Shareholder approval of significant capital expansion reflects broad support for FCMB’s growth plans, including investment in technology, human capital, and regional market reach — all of which contribute to sectoral resilience and financial inclusion.
Together, these developments illustrate how FCMB is navigating regulatory changes and economic challenges while remaining a pillar of Nigeria’s banking sector and an enabler of inclusive economic development.
