By Aduragbemi Omiyale

The capital raise programme of FCMB Group Plc for the recapitalisation of its banking subsidiary, First City Monument Bank Limited, and its pension business, FCMB Pensions Limited, has been concluded.

The financial services group confirmed this development in a statement filed with the Nigerian Exchange (NGX) Limited on Monday.

In the notice signed by the chief executive of the organisation, Mr Ladi Balogun, it was disclosed that the requisite approvals have been received from the relevant regulatory authorities.

These regulators include the Central Bank of Nigeria (CBN), the National Pension Commission (PenCom), and the Securities and Exchange Commission (SEC).

The banking segment of FCMB Group operates with an international licence and is required to have a capital base of N500 billion.

In the disclosure today, FCMB said it has met this minimum capital requirement of the central bank after getting N231.8 billion through a public offer in 2025.

It stressed that as of December 31, 2025, the lender, based on verified eligible capital (paid-up share capital and share premium), had N266.5 billion.

The company further disclosed that it raised an additional N11.0 billion from the minority divestment of approximately 10 per cent of the issued share capital of FCMB Pensions Limited.

“Together, the public offer and minority divestment provide sufficient capital for the bank to meet the revised N500 billion minimum capital requirements for an international banking licence. This is based on verified eligible capital (paid-up share capital and share premium) of N266.5 billion as at December 31, 2025.

“FCMB Group expresses its sincere appreciation to the regulatory authorities, investors, and other stakeholders for their continued support in achieving this important milestone,” parts of the statement read.

By Adedapo Adesanya

Nigeria’s broad money supply (M3) dropped to N123.36 trillion in January 2026, from N124.4 trillion in December 2025, signalling a modest contraction in system liquidity amid intensified tightening measures by the Central Bank of Nigeria (CBN).

According to the latest money and credit statistics from the CBN, marginal declines were recorded in currency outside the banking system and total currency in circulation, reflecting easing cash demand after the year-end festive surge.

Currency held outside banks dropped 3.66 per cent to N5.21 trillion in January from N5.41 trillion the previous month. Total currency in circulation similarly moderated to N5.73 trillion from N5.732 trillion, underscoring stable but adjusting liquidity conditions at the year’s start.

These shifts highlight Nigeria’s persistent reliance on physical cash, especially in the informal sector, even as the CBN ramps up efforts to sterilise excess liquidity through Open Market Operations (OMO) and Treasury bill issuances. Broad money supply (M3)—encompassing currency in circulation, demand deposits, savings, time deposits, and foreign currency deposits—reflects these policy actions aimed at curbing inflation and stabilising the foreign exchange market.

A deeper look at components shows different outcomes. For instance, net foreign assets plunged to N29.6 trillion, driven by reduced foreign currency holdings, while net domestic assets rose to N93.76 trillion, buoyed by domestic credit growth.

The January dip follows a familiar seasonal trend. Cash outside banks spiked to N5.41 trillion in December 2025 from N4.91 trillion in November, mirroring the N5.13 trillion surge from November 2024’s N4.65 trillion amid festive spending and informal sector activity.

Earlier in 2025, the trend fluctuated but stayed elevated: N4.65 trillion in October, N4.46 trillion in August (after July’s N4.42 trillion), N4.49 trillion in June, N4.63 trillion in May, N4.57 trillion in April, N4.60 trillion in March, N4.51 trillion in February, and N4.74 trillion in January.

Total currency in circulation echoed this, climbing to N5.26 trillion in November 2025 from October’s N5.06 trillion, with relative stability in the third quarter (N4.95 trillion in September, N4.92 trillion in August and July) and second quarter (N4.92 trillion in June, N5.01 trillion in May).

First-quarter figures hovered around N5 trillion: N5.01 trillion in April, N5 trillion in March, N5.03 trillion in February, and N5.04 trillion in January.

By Modupe Gbadeyanka

To celebrate women while also creating a platform where meaningful conversations around leadership, ambition and opportunity can take place, United Bank for Africa (UBA) Plc, will hold a special edition of its impactful quarterly UBA Business Series on Wednesday, March 12, 2026.

The event, themed gen w- ‘The Evolved Woman, will begin at 11 am at the UBA House, Lagos, and will be streamed live across all UBA digital platforms. Interested participants can register to attend virtually or in person via on.ubagroup.com/tfig.

The conversation will centre around women intensely forward, highlighting a new generation of women who are not simply seeking opportunities but confidently creating them. The discussion will explore how women today are shaping industries, leading businesses, and redefining success on their own terms.

A statement from the lender disclosed that this special UBA Business Series would bring together an array of accomplished female leaders and professionals who will share insights, experiences and practical strategies for navigating ambition, leadership and growth in today’s dynamic environment.

It will feature an inspiring line-up of speakers, including entrepreneur and founder of ORÍKÌ Group, Joycee Awosika; media personality & entrepreneur, Tomike Adeoye; entrepreneur and founder of Fine Funky, Olufunke Davies; and award-winning broadcaster, Ayo Mario-Ese. The conversation will be hosted by media personality and actor, Tobi Bakre.

Panellists will share their personal journeys and perspectives on navigating professional spaces, building resilient businesses, embracing authenticity and redefining leadership as women in a rapidly evolving global landscape.

“The modern African woman is evolving in remarkable ways. She is bold, visionary, and intentional about the spaces she occupies.

“Through this edition of the UBA Business Series, we want to celebrate women while also creating a platform where meaningful conversations around leadership, ambition and opportunity can take place,” the Group Head of Marketing and Corporate Communications for UBA, Ms Alero Ladipo, stated.

The quarterly UBA Business Series has become a key knowledge-sharing platform designed to equip entrepreneurs, professionals and business leaders with insights, tools and strategies needed to grow sustainable enterprises as well as navigate the evolving business landscape.

UBA is one of the largest employers in the financial sector on the African continent, with 25,000 employees group-wide and serving over 45 million customers globally.

Operating in 20 African countries, the United Kingdom, the United States of America, France and the United Arab Emirates, the bank provides retail, commercial and institutional banking services, leading financial inclusion and implementing cutting-edge technology.