No be small matter, my people! FCMB Group Plc don grab national banking licence for im flagship subsidiary, First City Monument Bank! Dis one no be wahala, e happen after dem raise correct capital wey go allow dem continue to dey operate for Nigeria as dem dey work towards N500 billion wey dem need to fit gree collect international licence. Na wetin Central Bank of Nigeria yan on Thursday when dem disclose say 20 deposit money banks don already meet new capital requirements wey dey for banking sector recapitalisation programme.
Dr Muhammad Abdullahi, wey be Deputy Governor for Economic Policy for Central Bank, na im spill the tea during di launch of di 2026 Macroeconomic Outlook of di Nigerian Economic Summit Group for Lagos. E don increase from di last time wey dem talk for Monetary Policy Committee meeting, where dem mention say only 16 banks don comply fully. Di requirements don change, now wey international banks suppose carry minimum of N500 billion as their capital, while national banks need N200 billion.
Regulatory filings show say FCMB don pass di national limit after dem complete public offer of N147.5 billion for 2024. Dis one fit help dem get di national licence for banking operations. E mean say di group dey ahead of di minimum requirement for domestic operations as dis banking recapitalisation wahala dey go on, even as di 31 March 2026 deadline dey come fast.
As dem don secure di national licence, di financial holding company dey eye di international licence. Dem don launch N160 billion offer for late 2025, and dem approve plan to raise up to N400 billion, as long as regulatory bodies gree. If dis one work, dem go carry FCMB go above di N500 billion limit and fit operate better even outside Naija.
Other big banks like Access Bank, Zenith Bank, and United Bank for Africa don already do correct moves to show say dem dey above di required international capital. On top dem, Stanbic IBTC Bank and Wema Bank dey try hold on to their national licences. Market analysts dey talk say, na different strategies and capital strength matter pass, no be say dem dey under regulatory wahala. For FCMB, e dey optional, but e go give dem better chance if dem fit collect di international licence.
PwC don yan for their 2026 economy outlook say banking sector recapitalisation go shape wetin dey happen for di sector dis year. Dem also talk say fintech and digital financial services dey gather more attention as major banks dey eye international listings wey go show say investors dey ginger.
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