The Central Bank of Nigeria (CBN) has verified and cleared Globus Bank Limited’s recapitalisation, issuing a No-Objection Letter confirming that its total paid-up capital now exceeds the N200 billion minimum requirement prescribed for commercial banks operating with a national licence.
The development brings to a close a two-phase capital raise spanning 2024 and 2025, one of the more compressed recapitalisation timelines among mid-tier banks navigating the CBN’s industry-wide exercise.
Globus Bank entered the programme with a paid-up capital base of N45.8 billion and has since mobilised over N154 billion in fresh capital over the two-year period.
