MON JAN 05 2026-theGBJournal| First Bank, the 130 year-old Nigerian financial institution, has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion, the parent company, First HoldCo Plc officially announced today.
The regulatory compliance follows the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary, First HoldCo said.
The recapitalisation strengthens the Group’s overall financial resilience, providing a robust platform for earnings growth through business expansion, technological innovation, and the pursuit of new opportunities.
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