Access, Zenith, Other Banks That Moved to Raise Capital in 2024 [Video]

• Earlier in the year, the CBN gave Nigerian banks across various tiers directives to meet new capital base
• The bank capitalisation plan is seen by analysts as a timely economic growth stimulus for the industry
• Fidelity Bank, Access Holdings, GTCo and other banks have started making moves to increase their capital base

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

Since March 29, 2024, when the banking recapitalisation exercise was announced, some banks have raised money by going to the stock market.

Analysts view the bank capitalisation initiative as a timely catalyst for economic growth, noting that capitalisation requires banks to hold sufficient funds as a buffer against financial downturns.

Legit.ng has highlighted the banks that made moves to recapitalise in 2024:

Fidelity Bank

Fidelity Bank surpassed the N127.1 billion target set in its combined offer programme, as the bank concludes the …