The decision stems from a strategic move towards enhancing operational effectiveness. Innocent C. Ike, CEO of Access Holdings Plc, emphasized that “efficiency is now a core driver of value.” He stated, “Our goal is not to reduce scale, but to sharpen it.” This approach aligns with the company’s commitment to corporate governance and long-term growth.

In contrast, other companies in the Nigerian Exchange are proceeding with dividend distributions. For instance:

• MTN Nigeria Plc and Okomu Oil Palm Plc propose a final dividend of N15 per share each.
• Seplat Energy Plc is paying about N12.60 per share for Q1 2026.
• BUA Cement has proposed a N10 per share dividend.
• Zenith Bank is distributing a final dividend of N8.75 per share.

The Initiates Plc also approved a total dividend payment of N266.99 million, representing 30 kobo per share for shareholders registered as of April 7th, 2026. This payment is subject to applicable taxes and reflects shareholder approval during the company’s recent Annual General Meeting.

While Access Holdings focuses on internal improvements, it remains uncertain how this decision will impact shareholder sentiment in the long run. The market will be watching closely as other firms continue their profit distributions amid Access’s strategic pause.

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Ladi Balogun, CEO of FCMB Group Plc, stated, “Together, the public offer and minority divestment provide sufficient capital for the Bank to meet the revised ₦500 billion minimum capital requirement for an international banking licence.” This announcement marks a significant milestone for the bank, which has successfully completed its N500 billion capital raise for its banking subsidiary.

The capital raise was achieved through a public offer that generated approximately N231.8 billion in gross proceeds, alongside an additional N11.0 billion raised through the minority divestment of FCMB Pensions Limited. This strategic move comes as part of FCMB’s efforts to comply with the Central Bank of Nigeria’s regulations.

Prior to this successful capital raise, FCMB Group had initially announced plans to raise N340 billion in 2024, which was later revised to N370 billion in 2025 and subsequently increased to N400 billion in November 2025. As of December 31, 2025, the bank’s verified eligible capital stood at N266.5 billion, highlighting the urgency of this recapitalisation.

FCMB Group has received the necessary approvals from the Central Bank of Nigeria, the Securities and Exchange Commission, and the National Pension Commission, ensuring compliance with regulatory standards. The deadline set by the Central Bank for banks to meet the new minimum capital requirements is March 31, 2026.

As of March 6, 2026, thirty banks have successfully met the new minimum capital requirements, reflecting a robust response from the banking sector to regulatory changes. FCMB Group reported a pre-tax profit of N200.91 billion for the year ended December 31, 2025, with profit after tax surging by 141.7% to N176.91 billion compared to the previous year.

In a follow-up statement, Balogun expressed gratitude, saying, “FCMB Group expresses its sincere appreciation to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone.” This recapitalisation positions FCMB Group favorably within the competitive banking landscape.

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“Together, the public offer and minority divestment provide sufficient capital for the Bank to meet the revised ₦500 billion minimum capital requirement for an international banking licence,” stated Ladi Balogun, the CEO of FCMB Group Plc.

FCMB Group Plc has successfully completed its N500 billion capital raise aimed at bolstering its banking subsidiary, First City Monument Bank Limited. This significant financial maneuver was achieved through a public offer that raised approximately N231.8 billion and an additional N11.0 billion from the minority divestment of FCMB Pensions Limited.

The successful capital raise comes as the Central Bank of Nigeria has set a deadline of March 31, 2026, for banks to meet the new minimum capital requirements. As of December 31, 2025, FCMB’s verified eligible capital stood at N266.5 billion, indicating the necessity for this recapitalisation.

In the context of the banking sector, FCMB’s recapitalisation aligns with the regulatory push for stronger financial institutions. As of March 6, 2026, thirty banks had already met the new minimum capital requirements, reflecting a broader trend within the industry.

FCMB Group reported a pre-tax profit of N200.91 billion for the year ended December 31, 2025, with profit after tax surging by 141.7% to N176.91 billion compared to the previous year. This financial performance underscores the bank’s robust operational capabilities.

Balogun expressed gratitude, stating, “FCMB Group expresses its sincere appreciation to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone.”

Historically, FCMB Group had initially announced plans to raise N340 billion in 2024, which evolved to N370 billion in 2025 and was finally set at N400 billion by November 2025. This progressive increase reflects the bank’s strategic adjustments in response to regulatory requirements.

The completion of this recapitalisation positions FCMB to enhance its competitive edge in the banking sector, particularly as it seeks to secure an international banking licence.

As the banking landscape continues to evolve, FCMB’s proactive measures may serve as a model for other financial institutions aiming to meet regulatory standards and foster growth.

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