Sterling HoldCo moves ahead in recapitalisation

Sterling HoldCo moves ahead in recapitalisation

Sterling Financial Holdings Company PLC has achieved another milestone with the approval of the Central Bank of Nigeria (CBN) recognising an additional N75 billion in its capital raise.

This approval represents the final leg of the capital injection that was achieved through a private placement in September 2024.

Building on the private placement’s success, Sterling launched a Rights Issue in October 2024, structured to provide existing shareholders the exclusive opportunity to deepen their stakes in the company and share in its growth story.

The Rights Issue received significant interest and participation, highlighting the confidence and trust the company has cultivated among its shareholders over the years.

Group Chief Executive of the company, Yemi Odubiyi, in a statement on Friday, described the capital injection and the approval as a validation of the company’s strategic direction and operational excellence.