First City Monument Bank (FCMB) Group Plc has made a significant return to Nigeria’s capital market, launching a N160 billion public offer aimed at strengthening its capital base under the Central Bank of Nigeria’s recapitalisation framework.
The offer features 16 billion ordinary shares of N0.50 each, priced at N10 per share, and opened this month with a scheduled close on November 6, 2025. This marks the second phase of FCMB’s multi-stage recapitalisation plan, following a successful N147.5 billion share sale in 2024, which laid the foundation for the bank’s ongoing capital-raising strategy.
FCMB continues to leverage the NGX Invest platform, the Nigerian Exchange Group’s digital portal designed to simplify access to the capital market. Over 40,000 investors participated in the previous offer through this platform, a milestone for digital engagement in Nigeria’s primary market. Building on that success, the bank expects the platform to expand reach and attract a wider pool of investors for this new phase.
Ladi Balogun, Group Chief Executive of FCMB, highlighted the strategic role of the offer in supporting the bank’s diversification across key business segments. “With this new offer, we’ve already attracted over 2,000 new investors in the opening week alone. The capital raised will support sustainable growth and position FCMB to take advantage of opportunities in the current macroeconomic environment,” he said.
Temi Popoola, Group Managing Director and CEO of Nigerian Exchange Group, emphasized the transformative role of technology in capital formation. “Through innovations like NGX Invest, we are lowering barriers to participation, enabling companies like FCMB to access capital efficiently, and creating a more inclusive, future-ready market,” he stated.
Jude Chiemeka, CEO of Nigerian Exchange Limited, added that the exchange remains committed to supporting issuers and investors through digital solutions. “We are proud to support FCMB in this next phase of recapitalisation. NGX Invest continues to demonstrate how technology can broaden investor reach and enhance market liquidity,” he said.
With this public offer, FCMB not only strengthens its capital position but also reinforces investor confidence in Nigeria’s evolving and increasingly digital capital market ecosystem.
