Greenwich Merchant Bank achieves N50bn capitalisation

Greenwich Merchant Bank on Thursday announced that it has successfully met the N50bn capital requirement mandated by the Central Bank of Nigeria.

According to the bank, in a letter dated September 22, 2025, the CBN confirmed its approval of Greenwich’s N22.6bn fresh capital raised via a Rights Issue and Private Placement. With this, the bank’s approved capital now exceeds the N50bn regulatory threshold.

The CBN’s recapitalisation directive stipulates N50bn as the minimum capital requirement for a merchant bank operating in Nigeria. Having achieved this milestone, Greenwich said it is now better positioned to underwrite larger transactions, offer more competitive financing, and enhance overall service delivery.

Speaking on the achievement, Chairman of Greenwich Group, Mr Kayode Falowo, said, “This is a significant milestone in our growth journey and a strong testament to the resilience and commitment of everyone across the organisation. It positions us strategically for the next phase of our expansion and service excellence.

“We would like to thank our shareholders for their trust in us and applaud the outstanding contributions of our Board and Management in attaining this milestone. We remain committed to driving even greater achievements in the future.”

Also commenting, Managing Director/Chief Executive Officer of Greenwich Merchant Bank, Mr Benson Ogundeji, noted, “Our successful capital raise is not just a regulatory compliance milestone; it is proof of the confidence our shareholders have in our vision and the trust our clients and partners have built with us over the years.

“At Greenwich, we see this achievement as a springboard for strengthening our capacity to deliver innovative financial solutions while contributing meaningfully to Nigeria’s economic growth and stability.”