Greenwich Merchant Bank on Thursday announced that it has successfully met the N50bn capital requirement mandated by the Central Bank of Nigeria.

According to the bank, in a letter dated September 22, 2025, the CBN confirmed its approval of Greenwich’s N22.6bn fresh capital raised via a Rights Issue and Private Placement. With this, the bank’s approved capital now exceeds the N50bn regulatory threshold.

The CBN’s recapitalisation directive stipulates N50bn as the minimum capital requirement for a merchant bank operating in Nigeria. Having achieved this milestone, Greenwich said it is now better positioned to underwrite larger transactions, offer more competitive financing, and enhance overall service delivery.

Speaking on the achievement, Chairman of Greenwich Group, Mr Kayode Falowo, said, “This is a significant milestone in our growth journey and a strong testament to the resilience and commitment of everyone across the organisation. It positions us strategically for the next phase of our expansion and service excellence.

“We would like to thank our shareholders for their trust in us and applaud the outstanding contributions of our Board and Management in attaining this milestone. We remain committed to driving even greater achievements in the future.”

Also commenting, Managing Director/Chief Executive Officer of Greenwich Merchant Bank, Mr Benson Ogundeji, noted, “Our successful capital raise is not just a regulatory compliance milestone; it is proof of the confidence our shareholders have in our vision and the trust our clients and partners have built with us over the years.

“At Greenwich, we see this achievement as a springboard for strengthening our capacity to deliver innovative financial solutions while contributing meaningfully to Nigeria’s economic growth and stability.”

The bank added that, going forward, customers will benefit from greater access to bespoke banking and financing solutions, while investors can expect improved returns driven by expanded deal flow, enhanced market positioning, and long-term value creation.

Greenwich Merchant Bank (formerly Greenwich Trust Limited) is a Nigerian financial institution established in February 1992. It converted to a Merchant Bank in September 2020.

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The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation, Mr. Thompson Sunday, has called for stronger collaboration between the Corporation and the Chartered Institute of Bankers of Nigeria to address emerging risks in the banking sector.

According to a statement from the Corporation on Thursday, Mr. Sunday made the call during a courtesy visit by the President and Chairman of the Council of the CIBN, Prof. Pius Olanrewaju, and his executive team to the NDIC Head Office in Abuja.

Both institutions agreed to strengthen cooperation in areas such as digital banking, cybersecurity, fraud prevention, and risk management.

The NDIC Chief Executive stressed that regulators and operators must work together to build a more resilient financial ecosystem capable of adapting to technological innovation.

He also commended the CIBN for its contribution to professional development in the banking sector and urged the Institute to collaborate more closely with regulators to develop innovative failure-resolution strategies.

Prof. Olanrewaju congratulated Mr. Sunday on his appointment and praised the NDIC’s recent milestones, including the upward review of deposit insurance coverage, faster depositor reimbursement using technology, and the commencement of liquidation dividend payments within one year of Heritage Bank’s closure.

He added that these initiatives had strengthened depositor and investor confidence in the banking system.

Olanrewaju also lauded the NDIC’s active role on the CIBN Governing Council, saying its participation had enhanced oversight, policy direction, and ethical leadership.

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Moniepoint Microfinance Bank has revealed that 42 per cent of Nigeria’s small businesses cannot survive for a month without income, according to findings from the second edition of its Informal Economy Report.

In a statement on Thursday, the bank said the report highlighted the fragile financial position of small businesses that employ a large share of Nigerians.

The report, scheduled for release on Friday, received support from the Ministry of Industry, Trade and Investment and the Small and Medium Enterprises Development Agency of Nigeria.

“The Informal Economy Report is a robust and important study that examines the informal market and provides fresh insights into its realities.”

“We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Managing Director of Moniepoint Microfinance Bank, Mr. Babatunde Olofin.

Nigeria’s informal economy accounts for over 80 per cent of employment and drives most economic activity. For millions excluded from formal job structures, it remains vital for survival and poverty alleviation.

Moniepoint said the report aims to provide evidence-based insights to guide policymakers, regulators, and financial institutions in designing interventions that strengthen and formalise informal enterprises.

The Informal Economy Report 2025 follows the success of the inaugural edition, which earned commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.

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