FCMB Amends EGM Resolution, Now Seeks Mandate to Raise Capital Up to ₦400 Billion

FCMB Group has amended the resolution to be sought from shareholders at its upcoming Extraordinary General Meeting (EGM), and now seeks permission to increase its capital raise limit from up to N340 billion to up to N400 billion.

The capital raise is being pursued to fully address the capital needs of FCMB Limited in line with the Central Bank of Nigeria (CBN’s) revised capital requirements.

The capital is to be raised in a currency as the Board of Directors of the Company may decide, through the issuance of securities comprising ordinary shares, preference shares, convertible or non-convertible notes and/or loans, notes, bonds or any other instruments, in the Nigerian and/or international capital markets.

The securities are to be issued either as standalone or by the establishment of capital raising programmes, whether by way of public offerings, private placements, rights issues and/or such other transaction modes.

This would be done at such price(s), coupon or interest rates determined through book building or any other acceptable valuation method or combination of methods, in such tranches, series or proportions, within such maturity periods and at such dates and upon such terms and conditions, as may be determined by the Board, subject to obtaining the requisite approvals of the relevant regulatory authorities.

The EGM of the Shareholders of FCMB Group Plc will be held virtually at 10.00 a.m. on Monday, December 8^th, 2025.

In 2025, FCMB Group Plc launched the second phase of its public offer seeking to raise up to ₦160 billion from the public share sale to strengthen its banking subsidiary and meet the Central Bank of Nigeria’s new ₦500 billion minimum capital requirement for international banks.

To address the anticipated oversubscription of the 2025 Public Offer and achieve execution of the Group’s capital raise plan, the Board of Directors of the Company proposed the new resolution.

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