FCMB Group, a financial services holding company led by Nigerian banking executive Ladi Balogun, has secured shareholder approval to raise up to N400 billion 274 million, a move that clears a major hurdle as the Nigerian financial services holding company works to retain its international banking license and comply with new regulatory capital requirements.
The approval was granted at an Extraordinary General Meeting EGM, where shareholders endorsed an expanded capital plan that management says will place the group well ahead of the Central Bank of Nigerias March 2026 recapitalization deadline. For FCMB, this offers both regulatory breathing room and a vote of confidence after a year of strong earnings growth.
FCMB funds growth, tech, offshore expansion
