Which banks raised capital? How much? Through what method? This tracker summarises the key raises based on publicly disclosed information. This registry documents capital raise events per institution including tier classification, instrument type, disclosed amount raised, and compliance status as at the regulatory deadline.
The capital raises
| Bank | Method | Amount raised | Status | Notes |
|---|---|---|---|---|
Zenith Bank International |
Rights IssuePublic Offer | ₦290.6bn | ✓ Compliant | Combined offer heavily oversubscribed. International investor participation confirmed. |
Access Holdings International |
Rights IssuePrivate Placement | ₦351bn+ | ✓ Compliant | Largest single raise in the sector. Includes subsidiary capital raises across African subsidiaries. |
UBA (United Bank for Africa) International |
Rights IssuePublic Offer | ₦239.4bn | ✓ Compliant | African investor base leveraged. Pan-African branch network capital coordination. |
GTCo (Guaranty Trust) International |
Rights Issue | ₦209.4bn | ✓ Compliant | Rights issue to existing shareholders at a discount. Notable retail investor participation. |
First Bank of Nigeria International |
Rights IssuePublic Offer | ₦300bn+ | ✓ Compliant | Historic Nigerian institution. Largest offer by share volume. |
FCMB Group International |
Rights Issue | ₦110.9bn | ✓ Compliant | Met international threshold via rights issue; strong existing shareholder take-up. |
Wema Bank National |
Public Offer | ₦40bn+ | ✓ Compliant | ALAT digital banking parent. Primarily retail-investor offer. |
Fidelity Bank National |
Rights IssuePublic Offer | ₦127.1bn | ✓ Compliant | Combined issue. International institutional interest noted in offer. |
Sterling Financial Holdings National |
Rights Issue | ₦35bn+ | ✓ Compliant | Niche-sector focus bank. Targeted raise to existing shareholder base. |
Stanbic IBTC National |
Rights Issue | ₦148bn+ | ✓ Compliant | Standard Bank Group subsidiary. Strong institutional support from parent. |
Ecobank Nigeria National |
Private Placement | ₦76.4bn | ✓ Compliant | ETI group coordination. Pan-African investor placement. |
Citibank Nigeria National |
Parent Capital Injection | Disclosed | ✓ Compliant | Parent Citigroup provided capital to local subsidiary. |
Heritage Bank Regional |
M&A / Closed | — | ⚠ Licence revoked | CBN revoked licence June 2024. Not able to meet recapitalisation requirements. |
Parallex Bank Regional |
Rights Issue | ₦15bn+ | ✓ Compliant | Regional licence. Met ₦50bn minimum threshold. |
Providus Bank Regional |
Private Placement | ₦50bn+ | ✓ Compliant | Private placement to strategic investors. |
Globus Bank Regional |
Private Placement | ₦13bn+ | ✓ Compliant | Regional bank. Strategic private placement completed. |
Other regional/merchant banks Regional / Merchant |
Various | Multiple | ✓ Most compliant | Remaining institutions including SunTrust, Premium Trust, Lotus, Signature, Optimus, Titan Trust, TAJ Bank, and others. |
Data note
This tracker is based on publicly available disclosures, CBN announcements, SEC filings, media reports, and NGX announcements as at the time of publication. Some figures are approximate or round-number disclosures from public sources. For precise figures, refer directly to each institution's formal filings. Not all institutions have publicly disclosed exact raise amounts. This is not a definitive CBN-sourced register. Do not make investment decisions based on this table.