First HoldCo Plc (“FirstHoldCo” or “the Group”) hereby notifies the Nigerian Exchange Limited (NGX), its shareholders, and the investing public that it has successfully completed the N45 billion second tranche of its ongoing N350 billion Private Placement programme, having secured all requisite approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
The proceeds will be injected into First Bank of Nigeria Limited (“FirstBank”), the Group’s flagship subsidiary, as part of its capital restoration plan and broader balance sheet strengthening programme.
This capital action further enhances FirstBank’s financial resilience, expands balance sheet capacity, and reinforces the Group’s commitment to sustaining the Bank’s leadership position, regulatory strength, and long-term competitiveness. With approximately N270 billion previously injected into FirstBank, the Group demonstrated disciplined execution toward meeting the ₦500 billion minimum capital requirement under the CBN’s recapitalisation directive ahead of the March 31, 2026, deadline.
Beyond regulatory compliance, this injection positions FirstBank to pursue its strategic growth agenda with greater confidence. It strengthens the Bank’s capacity to deepen quality lending, expand digital and transaction banking capabilities, accelerate customer franchise momentum, and capture opportunities across corporate, commercial, retail, and cross-border banking markets, while maintaining prudent capital management.
