Nigeria: FCMB Applauds Regulators and NGX Group for Successful Capital Raise

FCMB Group Plc has expressed its gratitude to key financial regulators and the Nigerian Exchange Group (NGX) following the successful completion of the initial phase of its transformational capitalisation programme.

In a statement released in Lagos on Monday, Mr. Ladi Balogun, Group Chief Executive Officer of FCMB, praised the efforts of the Central Bank of Nigeria (CBN), the Securities and Exchange Commission (SEC), and the NGX Group for their pivotal roles in facilitating the capital raise.

“I commend the CBN for its visionary leadership and the SEC for its steadfast commitment to reinforcing market confidence, especially during challenging times,” Balogun stated. He also lauded the NGX Group, emphasizing the crucial role of the NGX Invest platform in enabling 40,000 investors to subscribe to the public offer through digital channels.

Balogun further highlighted that the capital raise would strengthen FCMB’s balance sheet, improve banking experiences for customers, promote community development, and deliver value to shareholders.

He remarked, “This initiative is set to drive economic transformation, contribute to nation-building, and reshape the African narrative.”

Looking ahead, Balogun expressed optimism about FCMB Group’s future, noting that the success of this capital raise marks a significant step toward fostering shared prosperity and creating a better future for the next generation.