Nigeria's First Bank's parent company, FBN Holdings, plans to raise up to ₦300 billion ($241m) for increased capital requirements set by Nigeria's Central Bank.
FBN Holdings, parent company of Nigeria's First Bank, plans to raise up to ₦300 billion ($241 million) through a public share offering or private share sale. The capital increase comes as Nigeria's Central Bank sets new minimum capital requirements for banks to bolster economic growth. FBN Holdings will present the proposal to shareholders at a meeting on April 30.
April 08, 2024
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