FirstHoldCo Announces FirstBank Has Met ₦500 Billion Regulatory Capital Requirement - ITREALMS

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-Shareholders commit to future injection of more capital to the Groups’ other subsidiaries

First HoldCo Plc (“FirstHoldCo” or “the Group”) has announced that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of ₦500 billion. 

This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.