• Super Admin
• 07 Mar, 2026

The Central Bank of Nigeria (CBN) has verified and cleared Globus Bank Limited's recapitalisation, issuing a No-Objection Letter confirming that its total paid-up capital now exceeds the N200 billion minimum requirement prescribed for commercial banks operating with a national licence. The development brings to a close a two-phase capital raise spanning 2024 and 2025, one of the more compressed recapitalisation timelines among mid-tier banks navigating the CBN's industry-wide exercise. Globus Bank entered the programme with a paid-up capital base of N45.8 billion and has since mobilised over N154 billion in fresh capital over the two-year period. In the first phase, the bank raised N53 billion in 2024, lifting its capital base to N98.5 billion. The second phase, completed in 2025, involved a rights issue and a private placement that together yielded more than N102 billion, pushing total paid-up capital past the regulatory threshold. "This No-Objection from the CBN is the final confirmation of what our shareholders, investors, and board committed to. We said we would meet the national capitalisation requirement, and we have done so ahead of the deadline", said Elias Igbinakenzua, managing director/CEO, Globus Bank Limited. The capital verification adds regulatory heft to a credit-rating story that has already attracted attention. GCR and Augusto & Co, two of Nigeria's leading credit rating agencies, have both upgraded Globus Bank in back-to-back reviews, with Augusto & Co's current rating sitting at the A level; a threshold the bank's management describes as unprecedented for an institution of its size and age. With the recapitalisation formally concluded, the bank is positioning to compete more aggressively in large-ticket corporate lending, trade finance and public sector transactions. Globus Bank, which currently operates approximately 50 branches across Nigeria, has indicated plans to open at least 10 additional locations before the end of 2026. The expansion would take the network to roughly 60 branches, widening the bank's footprint in a market where physical presence still drives deposit mobilisation and retail customer acquisition. Incorporated in 2019 and launched during the disruptions of the COVID-19 pandemic, Globus Bank has grown from a standing start into a nationally licensed commercial bank in under six years; a trajectory that has drawn investor interest. The CBN recapitalisation directive, announced in 2023, set tiered minimum capital floors for banks based on their licence category; N500 billion for international banks, N200 billion for national commercial banks, and N50 billion for regional lenders. The deadline for compliance is March 2026, and regulators have signalled that non-compliant banks risk licence downgrades or other supervisory actions. Globus Bank's No-Objection Letter is among the earlier formal clearances issued under the programme. Source: https://businessday.ng/companies/article/cbn-clears-globus-bank-on-n200bn-recapitalisation/