FCMB Group Plc has applauded key financial regulators and Nigerian Exchange Group (NGX Group) following the "Successful completion of the initial phase of its transformational capitalisation programme."

The Group Chief Executive Officer of FCMB Group Plc, Mr. Ladi Balogun, expressed gratitude to the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), and NGX Group for their critical roles in facilitating the capital raise.

Balogun praised the CBN for its visionary leadership and commended the SEC for its efforts in reinforcing market confidence and providing guidance through challenging periods.

He also acknowledged NGX Group and the NGX Invest platform for their crucial role in enabling 40,000 investors to subscribe to the public offer through digital channels.

He noted that the capital raise will bolster FCMB's balance sheet, enhance customer banking experiences, support community development, and generate value for shareholders. And emphasised that this initiative would contribute to economic transformation, nation-building and reshaping the African narrative.

Balogun expressed optimism about FCMB Group's future, seeing the successful capital raise as a step toward fostering shared prosperity and creating a better world for future generations.

Following the Go-Live of NGX Invest, Temi Popoola, Group Managing Director and Chief Executive Officer of NGX Group, highlighted the role of the platform in stimulating successful capital raising.

"With the support of regulators and stakeholders, we have developed a fully digitised market infrastructure for distributing financial products, including public offers and rights issues," said Popoola.