Ah, my people! Wetin I dey hear for street be say, First Bank of Nigeria don ginger the vibes as dem don finally meet di Central Bank of Nigeria (CBN) capital requirement of N500 billion. E be like say dem dey shine for FirstHoldCo Plc because dem don do am before di deadline waka reach.
According to dem, na through better strategy dem take achieve dis one, from Rights Issue to Private Placement, plus some money wey dem collect from divesting dem merchant banking subsidiary. FirstBank dey ready to expand deir lending and push financial inclusion matter for our naija economy. Dem dey talk say dis now make dem fit deep their digital banking offerings more.
E no be only FirstBank wey dey jolly, standard Chartered and Rand Merchant Bank don also show say dem fit meet CBN requirement. As dem dey join di list, we don now get 21 banks wey don recapitalized well ahead of di March 31, 2026 deadline. Na so be financial power for Nigeria cha!
Femi Otedola, di chairman of First HoldCo, don gree say shareholders don show dem confidence through di oversubscribed mini-bond and di successful Private Placement wey dem do. E talk say dis early action show di teamwork wey dey between di Board, management and shareholders. Na true wah!
Wale Oyedeji, di Managing Director of First HoldCo, talk say dis capital raising na significant milestone for dem, wey go allow dem to chase innovation and customer value. Wetin we dey see here be say, dem dey ready for better performance and long-term value for everybody wey dey involved.
RMBN don step up too, confirm say dem meet di capitalisation requirement for merchant banks as of last year December. Di CEO, Bayo Ajayi, don gree say dem dey proud of wetin dem achieve. He talk say di commitment wey dem show go help dem deliver beta financial solutions wey go boost customer confidence.
Na so Standard Chartered Bank self talk say dem don meet dia own N200 billion capital requirement well ahead of time. Di CEO Dalu Ajene don make am clear, say dem dey commit to Nigeria’s financial stability and growth. Na so e dey go, as dem all dey work to support clients wey dey drive key sectors of di economy.
Dis whole recapitalisation matter na good news for di banking sector o. Analysts dey talk say dis show hope for our economy. As we dey dey see more banks dey meet di requirement, e go reduce di pressure and make dem focus on growth innovations go forward, rather than worrying for regulatory issues.
We dey hope say dis ginger go help other banks too, make dem contribute to di stronger financial system wey we dey need for Nigeria. No matter wetin, e be like say di future of our banking sector dey shine bright day by day. Na only God fit do dis kind thing!
Do you have a news tip for NNN? Please email us at editor @ nnn.ng
