FCMB Sets New Standards in a Transforming Banking Industry

FCMB Sets New Standards in a Transforming Banking Industry

FCMB Group Plc has overcome the new. capital requirements set by the Central Bank of Nigeria ina rapidly evolving banking landscape, ensuring its prized national banking licence stays in its pocket. This achievement comes right on the heels of several banks scrambling to recapitalise before the ticking clock strikes March 31, 2026.

With the CBN confirming that 20 banks have now squared away their compliance under the new capital rules, it looks like FCMB is in good company. The news was shared by Dr Muhammad Abdullahi, the CBN’s Deputy Governor for Economic Policy, during the launch of the Nigerian Economic Summit Group’s 2026 Macroeconomic Outlook in Lagos.

Previously set at 16, the number of banks comfortably meeting the standards reflects a significant leap in progress as financial institutions race against time. Under the revised guidelines, those eyeing an international banking licence must showcase a hefty N500 billion in paid-up capital. For those sticking to a national licence, the bar is set at N200 billion. No small potatoes, right?

FCMB has successfully navigated this challenging landscape, recently completing a N147.5 billion public offer in 2024. This strategic manoeuvre enabled its flagship subsidiary, First City Monument Bank, to lock in its national licence, keeping it firmly rooted in Nigeria as the financial tides shift around it.

This win allows FCMB to sit comfortably above the minimum capital requirement for domestic operations, easing some regulatory worries as the deadline looms. But wait, there’s more—FCMB isn’t just settling for national stability. The bank has its sights set on international expansion, aiming for that N500 billion benchmark through additional capital-raising efforts.

Among these initiatives are a bold N160 billion offer launched at the tail end of 2025 and a proposed shareholder-approved capital raising programme that could reach up to N400 billion, pending the usual regulatory green lights. If all goes according to plan, FCMB will not just keep its head above water; it could float into the international arena.

Several big players like Access Bank, Zenith Bank, and United Bank for Africa are already cruising above the international capital requirement. Meanwhile, others like Stanbic IBTC Bank and Wema Bank are likely to continue under national licences, showcasing a variety of strategies reflecting each bank’s unique risk appetite and capital strength.

Analysts have weighed in, emphasizing that the competition isn’t solely about speed but about meeting that all-important deadline. For FCMB, the national licence is vital for operational continuity, while winning an international licence would inject fresh flexibility and growth potential.

As we barrel toward 2026, the recapitalisation race is hitting its most intense phase, and the stakes have never been higher. With new fintech frameworks emerging and cross-border listings gaining traction, institutional and international investors are sharpening their pencils, ready to dive into the transforming Nigerian banking sector.

So whether it’s FCMB or its competitors, one thing is for sure: the game is on, and everyone’s watching