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Guaranty Trust Holding Company Plc (GTCO) has received regulatory approval from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) to proceed with a private placement of its ordinary shares, subject to the fulfilment of standard conditions precedent and other regulatory requirements.
The financial holding company had earlier disclosed, on August 29, 2025, that its banking subsidiary, Guaranty Trust Bank Limited, had met and exceeded the CBN’s new minimum capital requirement for commercial banks with international authorisation, with its capital base rising to ₦504.04bn.
GTCO explained that the proposed ₦10bn private placement is being undertaken solely to comply with Section 7.1 of the Guidelines for the Licensing and Regulation of Financial Holding Companies in Nigeria, which governs the computation of capital for financial holding companies.
In a statement signed by the Group General Counsel and Company Secretary, Erhi Obebeduo, the company said the transaction is being executed pursuant to a shareholders’ resolution passed at its Annual General Meeting held on May 9, 2024.
That resolution authorised the Board to establish a capital-raising programme of up to $750m, or its equivalent, through the issuance of ordinary shares, preference shares, convertible and/or non-convertible bonds, or other instruments. The capital could be raised via public offers, private placements, rights issues, book-building processes, or a combination of methods, in tranches and on terms determined by the Board.
Accordingly, the Board has approved the private placement to raise ₦10bn through the allotment of 125 million ordinary shares of 50 kobo each.
GTCO said the transaction aligns with its regulatory obligations as a financial holding company and supports the continued strengthening of its corporate structure in line with prevailing supervisory requirements.
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