FBN Holdings flags off ₦150 billion rights issue, with plans to raise a further ₦300 billion 

FBN Holdings, the parent company of Nigeria’s oldest bank, flagged off its ₦150 billion rights issue on Wednesday. While the Central Bank increased capital requirements for the country’s biggest banks tenfold in March 2024, Nnamdi Okonkwo, FBN Holdings’ GMD, said the bank’s capital raise plan commenced in 2023.

“We knew the kind of firepower we needed, and we decided to do…

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