• Super Admin
• 08 Mar, 2026

Afolabi Olorode, the acting managing director and chief executive officer (CEO) Quest Merchant Bank Afolabi Olorode, the acting managing director and chief executive officer (CEO) Quest Merchant Bank, says meeting the new N50 billion capital requirements underscores investors' confidence in its strategy and reflects the governance and franchise strength. The Central Bank of Nigeria (CBN) recapitalisation directive, which sets N50 billion as the minimum capital threshold for merchant banks, was designed to reinforce the resilience, stability, and lending capacity of Nigeria's financial system. Olorode stated that the bank remains committed to responsible growth, innovation, and delivering strategic financial solutions that empower businesses and institutions across Nigeria, and described the achievement as a defining moment in the bank's evolution. "This milestone marks a significant step forward for Quest Merchant Bank." According to him, meeting the new requirement benchmark reinforces Quest Merchant Bank's standing as a trusted financial partner in infrastructure, energy, manufacturing, and corporate growth initiatives nationwide. "With this strengthened capital position, we are equipped to play an even greater role in financing key sectors of the Nigerian economy, enabling private enterprise, and supporting sustainable economic expansion. "Our focus remains clear. We will continue to help our clients succeed, while serving as a trusted long-term partner in delivering sustainable growth," Olorode stated. According to him, the milestone reflects investors' continued confidence in the bank's long-term strategy, strong governance, and sustainable growth outlook. He added that it also marks an important step in the bank's post-divestment evolution under its new ownership, positioning Quest Merchant Bank with the balance-sheet strength needed to execute its next phase of growth. Olorode also stated that with the enhanced capital base, Quest Merchant Bank is now better positioned to underwrite larger transactions and expand its advisory, capital markets, and structured financing capabilities across priority sectors of the economy. Source: https://businessday.ng/news/article/meeting-cbns-n50bn-capital-requirement-underscores-investors-confidence-in-our-strategy-olorode/