FCMB Group Plc has increased its proposed capital raise from a maximum of N340 billion to N400 billion through a combination of fresh equity and debt instruments.
This update was disclosed in an addendum to the notice of its Extraordinary General Meeting (EGM) filed with the Nigerian Exchange Limited (NGX) on Friday, November 21, 2025.
The Company Secretary, Olufunmilayo Adedibu, said the capital raise may be executed through the issuance of debt securities, including ordinary shares, preference shares, bonds, convertible or non-convertible notes, or loans, in the Nigerian or international capital markets.
The capital raised could be achieved in Naira or in its equivalent in foreign currency.
The securities may be issued either as standalone offerings or under capital-raising programmes through public offerings, private placements, rights issues, or other approved transaction structures.
The statement added that the debt securities will be offered at coupon or interest rates determined through book-building or other acceptable methods.
FCMB Group is listed on the Main Board of the NGX with an equity capitalisation of N457.66 billion and 42.77 billion outstanding shares. Its share price closed at N10.7 on Friday, November 21, 2025, declining by 0.47%.
The capital raise is part of the Group’s plan to meet the Central Bank of Nigeria’s (CBN) revised capital requirements for commercial banks and other financial institutions.
The upward revision brings FCMB closer to the CBN’s N500 billion minimum capital threshold for banks with international authorisation, with a compliance deadline of March 31, 2026.
The Group’s EGM will be held virtually on Monday, December 8, 2025, at 10.00 am. Investors, shareholders, and members of the public are encouraged to join via the company’s YouTube channel.