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19 Banks Meet New Capital Requirements Ahead Of March 31 Deadline

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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.

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Ex Nigerian President, Olusegun Obasanjo Reveals Why He, Jonathan Opposed Tambuwal’s Emergence As Speaker In 2011

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Former President, Olusegun Obasanjo, has explained the political considerations behind the opposition by himself and then-President Goodluck Jonathan to Aminu Waziri Tambuwal’s emergence as Speaker of the House of Representatives in 2011.....TAP TO CONTINUE READING

Obasanjo said their position at the time was guided by party interest and the desire to sustain gender inclusion in the leadership of the National Assembly.

He spoke on Saturday at a leadership colloquium and 60th birthday celebration organised in honour of Tambuwal, a former Speaker of the House of Representatives, ex-governor of Sokoto State and current senator.

Reflecting on the events that preceded the 2011 Speakership election, Obasanjo said the Peoples Democratic Party had backed Mulikat Akande-Adeola, a lawmaker from the South-West.

“Our thinking was that if, for the first time, a woman had become Speaker of the House, she should be encouraged to remain there,” Obasanjo said.

Tambuwal, then a second-term lawmaker and former Deputy Chief Whip from the North-West, however, defeated Akande-Adeola in a keenly contested election, polling 252 votes against her 90 out of 340 votes cast.

Despite opposition from the executive arm, lawmakers insisted on Tambuwal’s emergence, a development Obasanjo said underscored the legislature’s independence.

“But your members thought otherwise, and you made your decision. And we supported your decision. Initially, even you were not sure of where we would stand, but we stood with you,” he added.

The former President described Tambuwal as a humble leader whose rise demonstrated the autonomy of the legislature.

“One thing I saw in you was humility. Greatness that does not include humility is greatness that is hollow. Your greatness is not hollow,” Obasanjo said.

Tambuwal’s victory was further boosted by support from the defunct Action Congress of Nigeria, then led by Bola Tinubu, marking one of the rare moments in Nigeria’s Fourth Republic when the legislature openly defied executive preference.
Jonathan Confirms Disagreements

Jonathan, who addressed the gathering virtually, corroborated Obasanjo’s account and acknowledged disagreements with the House during Tambuwal’s tenure.

Jonathan said, “When he was Speaker, I was the President, and we had some disagreements.

“But one thing I must give to Tambuwal is that members of the House believed so much in him. He held the House together, and I appreciated that quality of leadership, even when we disagreed.”

Former Senate President, David Mark recounted how Tambuwal and his deputy approached him before the election.

“They came to me and said, ‘Sir, whether you like it or not, you are adopting us as your sons,’” Mark said.

He admitted to ignoring pressure from the PDP leadership on the eve of the election.

“For once, Mr President, I disobeyed you,” he said, drawing applause from the audience.

Former Vice President Atiku Abubakar described Tambuwal as a leader in the making, while Peter Obi praised him as a bridge builder committed to justice, consensus, and national unity.

Former Edo State governor, Adams Oshiomhole, commended Tambuwal’s ability to manage a politically fragmented House, while Akande-Adeola dismissed suggestions of lingering animosity.

“Only what God wills comes to pass. Tambuwal has been Speaker and a leader. There is no animosity among us,” she said.
Tambuwal’s Warning On Nigeria’s Future

In his remarks, Tambuwal said Nigeria was at a critical juncture and urgently needed rescue from years of poor governance.

According to him, national renewal must rise above personal ambition, ethnicity and party politics, warning against the imposition of unworthy successors.

He said such practices continued to weaken institutions and undermine democracy, stressing that meaningful recovery would only be possible if Nigerians acknowledged that “something is fundamentally wrong” and committed to genuine reform.

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JUST IN: ‘Completely Disregard’ – African Democratic Congress (ADC) Denies Viral Membership Registration Links

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The African Democratic Congress (ADC) has warned the general public, party members and supporters to disregard a series of fraudulent online links and social media handles circulating as the party’s official membership registration platform.....TAP TO CONTINUE READING

In a statement issued on Sunday and signed by the party’s National Publicity Secretary, Mallam Bolaji Abdullahi, ADC said there is no official membership registration link or website currently open, describing all links in circulation as fake and misleading.

The party clarified that it has not launched any online registration portal for new members at this time.

“At this time, ADC has not launched any public online membership registration link,” the statement said.

It added that the party is still working on its official registration and verification platform, which would be formally announced through verified party channels when ready.

The ADC also cautioned that it would never request payments or sensitive personal information through unofficial links, WhatsApp messages, direct messages or third-party websites.

The party advised members of the public to remain vigilant and avoid engaging with unverified registration platforms.

It urged Nigerians to: Refrain from clicking on suspicious or unverified links; Avoid sharing unconfirmed registration messages; Not submit personal information such as names, phone numbers, PVC details, BVN or payment details on any unverified platform; Report suspicious links through official ADC communication channels.

The ADC stressed that all legitimate announcements, including the launch of its official membership registration platform, would only be communicated through verified party platforms and formal statements from the party leadership.

“The ADC is actively addressing this issue and will take all necessary steps to protect the public and preserve the integrity of the party,” the statement added.

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BREAKING NEWS: Boko Haram Releases Video, Demands $150,000 For Borno Ex-LGA Vice Chairman

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Boko Haram Releases Video, Demands $150,000 For Borno Ex-LGA Vice Chairman....TAP TO CONTINUE READING

A fresh video has surfaced showing two men allegedly abducted by Boko Haram/Islamic State West Africa Province (ISWAP) terrorists in Borno State, appealing for help and intervention.

One of the captives was identified as Hon. Hassan Biu Miringa, a former Vice Chairman of Biu Local Government Area.

The two men were abducted on December 17, 2025, while travelling from Miringa to Maiduguri.

According to Zagagola Makama, in the video, the victims confirmed they were still alive but said their captors had demanded a ransom of $150,000 each, bringing the total to $300,000, for their release.

“We were abducted on our way from Miringa to Maiduguri around 2:30. Alhamdulillah, we are alive,” one of the victims said.

“We are calling on the government and individuals to come to our rescue.”

The abductees specifically appealed to several political leaders and prominent individuals to intervene on their behalf.

Those mentioned include the Deputy Governor of Borno State, Umar Usman Kadafur, as well as Hon. Mukhtar Betara Aliyu, Hon. Sule Ali Rimi, Hon. Yakubu Gambo Kimba, and Alhaji Musa Dogo Biu.

“We are pleading with them to come to our rescue. We are their sons,” the victim said.

“They said we must provide $150,000 each. For the two of us, it is $300,000. We want to be reunited with our families.”

The incident is the latest in a series of abductions along highways and rural communities in Borno State, where armed groups continue to target travellers despite ongoing military operations.

As of the time of filing this report, there was no official statement from security agencies regarding the video or efforts to secure the victims’ release.

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