Rand Merchant Bank Nigeria Limited says it hit the Central Bank of Nigeria’s capital target for merchant banks.
On March 28, 2024, the CBN raised minimum capital for international commercial banks to N500 billion. It set national banks at N200 billion and regional ones at N50 billion.
The central bank also lifted the merchant bank floor to N50 billion for national licenses.
The CBN called the hike needed to fight economic troubles from outside and inside shocks.
After that, many banks moved to raise cash via shares or bonds.
In a Monday notice, the bank shared its capital update. It met the goal on December 30, 2025.
RMBN called this a sign of its solid finances, strong base, and rule-following ways. It shows owners trust Nigeria’s economy and the bank’s place in finance.
The bank stated: Meeting the CBN capital mark lets RMBN offer fresh finance tools to clients. It boosts client trust and aids Nigeria’s bank steadiness and growth.
Bayo Ajayi, RMBN’s top boss, praised the step.
He said: This shows our owners back Nigeria’s economy. It proves our drive to give top corporate and investment bank work in Nigeria and Africa.
We aim to build a tougher bank that succeeds in Nigeria’s changing finance world.
On November 25, 2025, the CBN noted 16 banks cleared the capital bar.
Femi Otedola, head of First HoldCo, said First Bank hit the CBN’s N500 billion mark.
