Connect with us

Breaking News

19 Banks Meet New Capital Requirements Ahead Of March 31 Deadline

Published

on

With less than 90 days to the recapitalisation deadline for banks in the country, 19 banks have now met the new capital requirements ahead of the March 31, 2026 deadline given by the Central Bank of Nigeria (CBN), as First Bank Nigeria, Fidelity Bank and FSDH Merchant Bank join the league of recapitalised banks.....TAP TO CONTINUE READING

This is as analysts say they expect more banks to conclude their recapitalisation plans between next week and the end of this month.

LEADERSHIP had earlier reported that 16 banks met the new capital requirements for their respective licence categories last year.

These included Access Holdings, Zenith Bank, GTBank, Ecobank, Stanbic IBTC, Wema Bank, Jaiz Bank, Lotus Bank, Providus Bank, Greenwich Merchant Bank and PremiumTrust Bank, alongside Globus Bank, Citibank Nigeria, United Bank for Africa, Nova Bank and Sterling Bank.

More recently, First Bank, Fidelity Bank and FSDH Merchant Bank also joined the list.

Fidelity Bank Plc has raised approximately N250 billion through a private placement. This offer opened and closed on December 31, 2025, driven by substantial investor demand fuelled by the bank’s impressive financial performance and solid track record.

A source close to the lender stated that this swift completion is a notable achievement for Nigeria’s stock market.

NGX regulations typically allow up to 10 days for such private placements.

Fidelity Bank aims to meet the Central Bank of Nigeria’s N500 billion minimum capital requirement for banks with international authorisation by the March 31, 2026 deadline.

Reportedly, participation was limited to a small circle of pre-qualified institutional investors, many with global investment footprints.

Market intelligence estimates the proceeds at roughly N250 billion, comfortably exceeding the bank’s estimated capital gap of N194.5 billion. This fully subscribed offer places Fidelity Bank among the more strongly capitalised Nigerian banks with international operations.

While the CBN is yet to ratify the new capital base of some of these banks, they seem to have scaled the hurdle, with some others set to scale it soon.

A player in the industry who craved anonymity noted that many of the banks yet to clear the hurdle are expected to do so before the end of the month, with announcements expected from next week.

CBN Governor Olayemi Cardoso had late last year confirmed the progress of banks in their race to meet the deadline.

Cardoso had stated that “several banks have already met the new capital thresholds, while others are advancing steadily and are well positioned to comfortably meet the March 31, 2026 deadline.”

He disclosed that 27 banks had accessed the capital market through public offers and rights issues, with 16 already meeting or exceeding the new benchmarks, adding that beyond headline figures, stress tests conducted in 2025 showed that the banking system remained fundamentally robust, with key financial soundness indicators meeting prudential standards across the board.

Despite the progress, several lenders are still fine-tuning their capital plans.

The First City Monument Bank (FCMB) Group is among those in advanced stages of capital raising and regulatory verification.

Shareholders of FCMB Group Plc at an Extraordinary General Meeting (EGM) recently approved an increase in capital raise of up to N400 billion to enable it to retain its international banking licence ahead of the March 2026 deadline.

Group chief executive officer of the bank, Ladi Balogun, noted that “the additional capital will be deployed to strengthen our capital adequacy ratio and accelerate growth.”

Analysts say mergers and acquisitions remain limited for now, but ownership changes are becoming increasingly likely as banks court new investors.

Head of Financial Institutions Ratings at Agusto and Co, Ayokunle Olubunmi, said only a few institutions remain under real pressure.

“Nothing dramatic has happened yet on the mergers front, but by January or February, we could see clearer outcomes. Capital raising through private placements and rights issues will inevitably lead to dilution for shareholders who do not participate,” he said.

The race for capital has also triggered a wave of strategic realignments.

Nova Bank opted to downgrade its licence to a regional banking status, significantly lowering its requirement to N50 billion to beat the deadline.

Meanwhile, consolidation is picking up steam; Union Bank has merged with Titan Trust Bank, and Providus Bank is set to merge with Unity Bank, a move that would create Nigeria’s ninth-largest lender by assets.

Left in the race with the option of either meeting up, merging or closing shop are Keystone Bank, Parallex Bank, Polaris Bank, Signature Bank, TAJBank, Citibank Nigeria and Standard Chartered Bank Nigeria.

Others are FBN Quest Merchant Bank, Coronation Merchant Bank and Rand Merchant Bank.

Read The Full Article Here Now

 

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Breaking News

FRSC confirms nine dead, 10 injured in Bauchi road crash

Published

on

The Federal Road Safety Corps (FRSC) in Bauchi State has confirmed that nine passengers lost their lives, while 10 others sustained injuries in a fatal road crash in the state.....TAP TO CONTINUE READING

CC Apaji Danladi Boyi, the Sector Commander of FRSC,, revealed this on Friday while briefing journalists in his office.

He said the accident occurred at about 6:20 a.m. along the Jama’are–Azare axis of the Kano–Maiduguri Expressway.

According to Boyi, the crash involved a commercial vehicle with registration number KTG 181 ZZ, which was conveying 19 passengers from Gombe to Kano.

“The fatal crash involved a commercial vehicle carrying 19 passengers from Gombe to Kano,” he said.

The FRSC commander explained that preliminary findings pointed to overspeeding, driver fatigue and loss of control as the likely causes of the accident, adding that investigations were still ongoing.

“Our initial investigation suggests that overspeeding and fatigue, which led to loss of control, may have caused the crash,” Boyi stated.

He said FRSC operatives promptly rescued the injured victims and took them to the Federal Medical Centre, Azare, where they are currently receiving treatment.

The remains of those who died were deposited at the hospital morgue for identification and collection by their families.

Boyi added that the corps’ Operation Zero Tolerance was still ongoing across Bauchi State, noting that patrols had been intensified on major highways.

He also warned motorists to obey traffic rules, stressing that traffic volume remained high as many travellers were still returning to their destinations after the yuletide and New Year holidays.

Read The Full Article Here Now

 

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading

Breaking News

“Why I didn’t attend my cousin Allwell Ademola’s burial” – Muyiwa Ademola

Published

on

Popular Nollywood actor and filmmaker Muyiwa Ademola has explained why he was absent at the burial of his cousin, late actress Allwell Ademola, held in Lagos.....TAP TO CONTINUE READING

The Yoruba movie star addressed his absence in an emotional social media post shortly after the burial ceremony.
Ademola Buried in Lagos Amid Industry Presence

Allwell Ademola’s burial ceremony took place between Thursday, January 8, and Friday, January 9, with her remains laid to rest at a cemetery in the Yaba area of Lagos.

Several notable figures from the Yoruba movie industry attended the ceremony to pay their last respects.

However, fans quickly noticed that Muyiwa Ademola was missing from the event.
Why Muyiwa Ademola Was Absent

Following the burial, Muyiwa Ademola took to his social media page to explain the reason for his absence.

According to him, he was out of the country at the time of the burial and could not return in time to witness his cousin’s final journey.
Actor Pens Emotional Farewell Message

In his tribute, Muyiwa Ademola expressed deep pain over his cousin’s death and reflected on the uncertainty of life.

The actor asked Allwell Ademola to pass his greetings to departed family members, including his father Awofe Ademola and Uncle Adetokunbo Ademola

He wrote:

“It’s a final Goodbye Couz

The saddest part is my not being in the country to witness your final journey back home.

Your death is just another painful reminder that tomorrow is never promised!

Each day we live is deducted from the days we would live on earth, each birthday we celebrate takes us closer to our final birthday!

May we live long, amen.

Sun re o Omo Oba EniObanke Ademola, bami ki baba mi Awofe Ademola, ki Uncle Adetokunbo Ademola… o digba o! O di gbere!”
Netizens Reacts

Following the post, social media users flooded the comment section with condolences and prayers for the Ademola family.

See below;

Read The Full Article Here Now

 

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading

Breaking News

BREAKING NEWS: 2 brothers allegedly strangle their father to d3ath in Adamawa state

Published

on

The Adamawa State Police Command has arrested one of the two brothers accused of brutally k!lling their father in Numan Local Government Area of the state. ....TAP TO CONTINUE READING

The arrested suspect has been identified as David ThankGod, while his younger brother, Joshua ThankGod, remains on the run.

The spokesperson of the command, SP Suleiman Nguroje, who confirmed the development to SaharaReporters on Thursday, January 8, 2026, said David was apprehended in Taraba State.

“He was picked up in Jalingo, the Taraba State capital,” Nguroje disclosed, adding that efforts were ongoing to track down and arrest the fleeing suspect.

On January 3, residents of Numan town were plunged into shock and mourning after the two brothers allegedly strangled their father to d3ath in the early hours of the day.

The deceased, Ogar ThankGod, a well-known businessman in Numan, was reportedly attacked at about 1am at his residence in the Gwe-da-Mallam area of the town.

Sources said the suspects, aged 23 and 25, allegedly carried out the act following a lingering family dispute that had earlier degenerated into a police case.

According to SP Nguroje, investigations revealed that the suspects were called back from Lagos by their sister to address the family crisis, a move that eventually escalated into the fatal incident.

“The matter was already a police case before the unfortunate incident,” the PPRO said.

The k!lling sparked outrage and disbelief among residents, with many describing the incident as one of the most disturbing family tragedies to hit the community in recent times.

The police said investigations were ongoing and assured that the remaining suspect would be brought to justice.

Read The Full Article Here Now

 

👉 Are You A WhatsApp User? Do You Want To Get Our News As Fast As Possible On Daily Basis? 👉 Click This Link To Join WhatsApp Channel Now.

Continue Reading

PURPOSE ONLINE ACADEMY

Trending

All Right Reserved | Copyright © 2025 3ppleloaded News | Powered by 3ppleloaded.ng |