First HoldCo Seeks Shareholder Approval for ₦253 Billion Capital Increase

First HoldCo Plc will ask its shareholders to back a fresh ₦253 billion equity raise aimed at building a ₦1 trillion capital base. This move is voluntary, as First Bank of Nigeria Limited already meets the Central Bank’s minimum capital requirement for international banks. The extra buffer is designed to sharpen the group’s competitive edge and support future growth. Proceeds will strengthen the balance sheet, finance expansion across subsidiaries and enable First HoldCo to underwrite larger corporate deals. Shareholders will review the proposal and detailed financing plan at the forthcoming general meeting.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.