Having few days to the regulatory deadline set by the Central Bank of Nigeria (CBN) for banks to comply with the revised capital requirements, Globus Bank Limited has successfully crossed the N200 billion minimum capital threshold required for commercial banks operating with national licences.
Banking industry sources had reported that the apex bank has completed the verification of the lender’s recent capital raise and subsequently issued a No-Objection Letter confirming that the bank’s paid-up capital now exceeds the regulatory benchmark.
A banking official with knowledge of the development said the regulatory confirmation followed a review of the funds raised by the institution, noting that the exercise formally establishes the bank’s compliance with the capital requirement introduced by the central bank.
According to findings, the capital increase followed a two-stage fundraising programme undertaken by the bank between 2024 and 2025.
The lender reportedly entered the recapitalisation programme with a paid-up capital base of about N45.8 billion. In 2024, it raised an additional N53 billion, bringing its capital to approximately N98.5 billion.
Further capital mobilisation in 2025 through a combination of a rights issue for existing shareholders and a private placement targeted at strategic investors brought in more than N102 billion, pushing the bank’s total paid-up capital above the N200 billion regulatory threshold.
Market observers noted that the central bank’s No-Objection Letter indicates that the regulator has completed its review of the capital raise and confirmed that the funds satisfy the prudential conditions required for banks operating under a national licence.
The recapitalisation programme forms part of broader banking sector reforms introduced by the CBN under the leadership of Olayemi Cardoso. Announced on March 28, 2024, the initiative gave banks a 24-month window beginning April 1, 2024, to meet revised capital thresholds, with the compliance deadline set for March 31, 2026.
Under the framework, commercial banks with international authorisation are required to maintain a minimum capital base of N500 billion, while those with national and regional licences must hold N200 billion and N50 billion respectively.
Analysts say the stronger capital base is expected to enhance Globus Bank’s ability to undertake larger transactions, support corporate clients and deepen participation in trade finance and public sector business.
The bank, which commenced operations in 2019, currently operates about 50 branches across the country and is understood to be pursuing further expansion as part of its growth strategy.
The enlarged capital base will support the bank’s plans to expand its lending activities, strengthen its digital infrastructure and broaden its physical footprint as competition intensifies within Nigeria’s banking sector.
