Zenith Bank Surpasses CBN Capital Target With ₦614.65bn Base

Zenith Bank Plc has surpassed the Central Bank of Nigeria’s (CBN) recapitalisation requirement for banks with international authorisation, achieving a capital base of ₦614.65bn following the conclusion of its public offer, which raised ₦350.46bn.

Speaking at a Closing of Gong Ceremony, Director-General of the Securities and Exchange Commission (SEC), Dr Emomotimi Agama, lauded the success of the offer as a demonstration of the depth and integrity of Nigeria’s capital markets.

“This capital raise demonstrates the robust capacity of our markets. It’s a clear signal that with sound fundamentals and transparency, Nigeria can efficiently mobilise capital for growth,” he stated.

In his remarks, Group Chairman of the Nigerian Exchange Group (NGX Group), Dr Umaru Kwairanga, described the achievement as a reflection of Zenith Bank’s strong governance and leadership.

“This is a testament to strong leadership and a win for our capital markets. Zenith Bank’s achievement solidifies its position as a pillar of the financial sector and underscores the market’s faith in its future,” he said.

Group Managing Director and Chief Executive Officer of NGX Group, Temi Popoola, highlighted the pivotal role of technology and innovation in the success of the offer.

“The oversubscription of Zenith Bank’s offer is a direct result of innovation and collaboration. Our NGX Invest platform was instrumental in broadening access, onboarding a new generation of investors, and deepening market participation,” Popoola noted.

Expressing gratitude to investors and market participants, Founder and Chairman of Zenith Bank Plc, Dr Jim Ovia, said the successful capital raise represents both a validation of the bank’s legacy and a strong vote of confidence in its future trajectory.

“This successful capital raise, which secures our regulatory standing, is a vote of confidence in our legacy and our future growth trajectory,” Ovia said.

Also speaking, Group Managing Director and Chief Executive Officer of Zenith Bank Plc, Dr Adaora Umeoji, described the feat as both a regulatory milestone and a platform for future expansion.

“Reaching a capital base exceeding ₦600 billion is not just a compliance achievement; it’s a foundation for the future.

“Through platforms like NGX Invest, which expanded access and simplified participation, we were able to reach a broader pool of investors.

“This underscores how innovation within our market ecosystem can drive inclusivity and accelerate growth,” she stated.