FCMB Group Plc has completed the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and has secured its international banking licence after obtaining all required regulatory approvals.
The Group raised more than N400 billion through a series of transactions, including public equity offerings, a convertible instrument, and a minority divestment in one of its subsidiaries.
The Nigerian financial services group raised N144.6 billion through a public offer in July 2024. The offer was oversubscribed by 33% and drew about 42,800 investors.  
About 92% of the subscriptions were completed through digital channels, including the FCMB mobile banking application.
FCMB also raised N22.7 billion through a mandatory convertible note and realised N11 billion from a minority divestment in FCMB Pensions Limited.
A second public offer launched in October 2025 raised N231.8 billion and was oversubscribed by 50.5%. It attracted more than 25,800 investors, with the capital rai
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