October 15, 2025/NGX
First City Monument Bank (FCMB) Group Plc has returned to the Nigerian capital market with a ₦160 billion public offer, as the lender moves to strengthen its capital base under the Central Bank of Nigeria’s (CBN) new recapitalisation framework.
The offer, which comprises 16 billion ordinary shares of ₦0.50 each at ₦10 per share, opened this month and is scheduled to close on November 6, 2025. It marks the second phase of FCMB’s recapitalisation plan, following the successful completion of a ₦147.5 billion share sale in 2024, which was the first leg of the bank’s multi-phase capital-raising programme.
The 2024 offer was notable for its use of the NGX Invest platform, the e-offering portal launched by Nigerian Exchange Group (NGX Group) to simplify and democratise access to the capital market. Through the platform, over 40,000 investors participated in FCMB’s last offer, a development hailed as a major step forward for digital participation in Nigeria’s primary market. Building on that success, FCMB has once again adopted the NGX Invest platform to drive investor engagement and expand reach in the new offer.
Ladi Balogun, Group Chief Executive of FCMB Group Plc, said the Exchange continues to play a pivotal role in enabling listed companies to raise long-term, sustainable capital for growth. He noted that through technological innovation, particularly the NGX Invest platform, NGX is deepening market access and widening participation in Nigeria’s capital market. “With this new offer, we’ve already attracted over 2,000 new investors in the opening week alone. The capital raised will support our ongoing diversification across key business segments, positioning FCMB for sustainable growth. The macroeconomic environment is at an interesting inflection point, and we are confident this presents significant potential for capital appreciation. We encourage investors to take advantage of this opportunity to be part of our next phase of expansion,” he said.
Temi Popoola, Group Managing Director/Chief Executive Officer, Nigerian Exchange Group Plc, noted that NGX Group remains focused on leveraging technology to enhance capital formation and investor participation. “At NGX Group, our focus is on building a capital market that is future-ready, inclusive, and efficient. Through innovations like NGX Invest, we are redefining how issuers connect with investors, lowering barriers to participation, and enabling listed companies such as FCMB to access capital seamlessly. This is how we see the next phase of market growth, one that is driven by technology and underpinned by trust and transparency,” Popoola said.
On his part, Jude Chiemeka, Chief Executive Officer, Nigerian Exchange Limited, reiterated the Exchange’s commitment to supporting issuers and investors through technology-enabled solutions. “We are pleased to support FCMB once again as it advances the next phase of its recapitalisation programme. NGX Invest continues to demonstrate the power of technology in broadening investor reach and deepening market liquidity. Our goal remains to provide issuers with an agile platform that simplifies capital raising while ensuring investor can participate with ease and confidence,” Chiemeka stated.
With the new ₦160 billion offer, FCMB aims to consolidate its recapitalisation journey and further deepen investor confidence in Nigeria’s capital market, as digital platforms like NGX Invest continue to reshape how Nigerians participate in public offerings.
