Greenwich Merchant Bank surpasses CBN’s N50bn capital requirement after raising N22.6bn, strengthening its financial position for future growth

Greenwich Merchant Bank has successfully met the N50 billion capital requirement set by the Central Bank of Nigeria (CBN) for merchant banks, the bank announced on Thursday, October 9, 2025.

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The achievement comes after Greenwich raised N22.6 billion in fresh capital through a combination of Rights Issue and Private Placement, pushing its approved capital above the CBN’s threshold.

According to Greenwich, the CBN formally acknowledged the capital raise in a letter dated September 22, 2025, confirming the bank’s full compliance with the recapitalisation directive issued by the apex bank.

The recapitalisation mandate, part of ongoing reforms in Nigeria’s banking sector, requires merchant banks to hold a minimum capital base of N50 billion.

“This is a significant milestone in our growth journey and a strong testament to the resilience and commitment of everyone across the organisation,”
— Mr Kayode Falowo, Chairman, Greenwich Group

Falowo praised the role of shareholders, the board, and management in reaching this regulatory benchmark, describing the achievement as a launchpad for strategic expansion.

Also speaking, Mr Benson Ogundeji, Managing Director and CEO of Greenwich Merchant Bank, said the capital raise signals more than just regulatory compliance.

“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,” Ogundeji said.

He added that the improved capital base enhances the bank’s ability to underwrite larger transactions, deliver bespoke financial solutions, and create more long-term value for clients and investors.

Greenwich noted that customers can now expect better access to competitive financing, while investors should benefit from expanded deal flow, enhanced market visibility, and stronger returns.

Founded in February 1992 as Greenwich Trust Limited, the institution transitioned to a merchant bank in September 2020 and has since deepened its footprint in investment banking, wealth management, and advisory services.

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With the successful capital raise, Greenwich now joins the ranks of merchant banks in Nigeria that have fulfilled the CBN’s recapitalisation directive, part of wider efforts to strengthen the financial system ahead of 2026.

Greenwich Merchant Bank Meets CBN’s N50bn Capital Requirement