First City Monument Bank has restated its commitment to deepen Nigeria’s financial landscape with a public offer of N160 billion.

The move marks a crucial phase in FCMB’s recapitalization plan aimed at meeting the Central Bank of Nigeria’s ₦500 billion minimum capital requirement for international banks.

Group Chief Executive, Ladi Balogun, presented the offer’s details during the “Facts Behind the Offer” session, positioning the initiative as a strategic step to build a stronger, more resilient financial institution.

He traced FCMB’s long-standing relationship with the NGX, noting that the bank has raised about $863 million through the exchange since inception, with recent rounds predominantly funded by domestic investors, reflecting growing local confidence in the financial system.

Balogun tied the capital raise to Nigeria’s improving economic fundamentals, pointing to a 10-year high in foreign reserves, inflation easing toward 20%, and a strengthening naira as indicators of renewed macroeconomic stability.

He expressed optimism that sustained monetary reforms, lower interest rates, and Nigeria’s likely re-entry into global emerging market indices would stimulate increased foreign portfolio inflows and higher valuations across the banking sector.

Nigerian Exchange Limited CEO, Jude Chiemeka lauded FCMB’s transparency and engagement with investors, describing the financial sector as “the engine of Nigeria’s market activity,” contributing over 75% of daily trading volume and ₦2.2 trillion in taxes in the past four years.

He noted that the NGX facilitated ₦4.6 trillion in capital raising across asset classes in the first half of 2025 alone and urged FCMB to deepen collaboration on investor education and corporate governance through the NGX X-Academy.

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