FirstBank Completes N500bn Capital Raise, Meets CBN International Banking Requirement
Story: written by Joseph JANUARY 2,2026
FirstBank, the commercial banking subsidiary of First HoldCo Plc, has successfully met the ₦500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN) for an international banking licence.
The bank’s shareholders have also committed to injecting additional capital into its existing subsidiaries and expanding into new business areas, reinforcing FirstBank’s capacity to support real sector growth.
This development comes amid broader reforms in Nigeria’s banking and economic landscape. Experts highlight that disciplined monetary policy under CBN Governor Yemi Cardoso, coupled with foreign exchange market reforms, has strengthened confidence in the naira and boosted external reserves to a seven-year high of over $46 billion.
The capital boost by FirstBank positions it to operate on a larger scale, improve governance, and support Nigeria’s ambitions as a growing economy. Analysts have suggested that raising the minimum capital for international banking licences from ₦500 billion to at least ₦1 trillion would further strengthen the sector.
