### First Bank of Nigeria Surpasses CBN's ₦500 Billion Capital Requirement Ahead of Deadline First HoldCo Plc has announced that its commercial banking subsidiary, First Bank of Nigeria Ltd., has successfully met the Central Bank of Nigeria's (CBN) new minimum capital requirement of ₦500 billion. This achievement comes well ahead of the CBN's stipulated deadline of March 2026, showcasing the bank's proactive approach to regulatory compliance and financial stability. The announcement was made by Olayinka Ijabiyi, Acting Group Head of Marketing and Corporate Communications at FirstBank, who highlighted that this milestone was reached through a series of strategic capital initiatives, including a Rights Issue and a Private Placement, as well as proceeds from the divestment of the Group's merchant banking subsidiary [https://chatnewstv.com/first-bank-meets-cbns-n500-billion-capital-requirement-ahead-of-schedule]. ### Breakdown of First Bank's Capital Achievement 1. **Regulatory Compliance**: - First Bank has met the ₦500 billion capital requirement set by the CBN, ensuring compliance with regulatory standards for commercial banks in Nigeria [https://theeagleonline.com.ng/firstbank-meets-n500b-capital-threshold-ahead-of-cbn-deadline]. 2. **Strategic Initiatives**: - The bank's capital raise involved several strategic initiatives: - **Rights Issue**: A method of raising capital by offering shares to existing shareholders. - **Private Placement**: Selling shares directly to a select group of investors. - **Divestment Proceeds**: Funds obtained from selling off parts of the business, specifically the merchant banking subsidiary [https://newsonlineng.com/firstholdco-confirms-firstbank-meets-cbns-₦500bn-capital-requirement-signals-fresh-funding-plans-for-subsidiaries]. 3. **Future Plans**: - Following this capital achievement, FirstHoldCo has indicated plans for further investments in its subsidiaries, signaling a commitment to growth and expansion in the financial sector [https://brandspurng.com/2026/01/07/firstbank-meets-cbns-₦500bn-minimum-capital-requirement]. ### Supporting Evidence of Financial Stability - **Capital Initiatives**: - The successful completion of the capital raise demonstrates strong investor confidence in FirstHoldCo's business model and long-term viability. - The bank's gross earnings reportedly rose by 17% to ₦2.6 trillion in the nine months leading up to this announcement, indicating robust financial performance [https://itedgenews.africa/firstbank-meets-cbns-₦500b-capital-requirement-ahead-of-deadline-as-holdco-plans-further-investments]. - **Market Position**: - First Bank's ability to meet the capital requirement ahead of schedule positions it favorably among its peers, enhancing its reputation as a leading financial institution in Nigeria [https://nationaldailyng.com/firstbank-achieves-cbns-n500bn-capital-threshold-ahead-of-march-deadline]. ### Conclusion: First Bank's Strategic Success and Future Outlook In summary, First Bank of Nigeria has successfully met the Central Bank of Nigeria's ₦500 billion capital requirement ahead of the March 2026 deadline, reflecting its strong financial health and strategic foresight. 1. **Regulatory Compliance**: First Bank's achievement ensures it meets the CBN's standards for commercial banks. 2. **Strategic Initiatives**: The capital raise was facilitated through various strategic financial maneuvers, including rights issues and private placements. 3. **Future Growth**: The bank is poised for further investments, indicating a commitment to expanding its operations and enhancing its market position. This proactive approach not only strengthens First Bank's financial foundation but also positions it for future growth and stability in the competitive banking landscape of Nigeria [https://businesspost.ng/banking/first-bank-confirms-meeting-cbn-n500bn-capital-base].