Greenwich Merchant Bank Meets CBN’s Recapitalisation Requirement with N50 Billion Threshold
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Greenwich Merchant Bank has announced that it has successfully achieved the N50 billion capital requirement set by the Central Bank of Nigeria (CBN), marking a major milestone in its growth and compliance journey.
In a letter dated September 22, 2025, the CBN confirmed its approval of Greenwich’s fresh capital injection of N22.6 billion, raised through a Rights Issue and Private Placement. This brings the bank’s total approved capital above the regulatory threshold of N50 billion required for merchant banks operating in Nigeria.
The CBN’s recapitalisation directive mandates that all merchant banks must maintain a minimum capital base of N50 billion to strengthen the sector’s stability and resilience. With this accomplishment, Greenwich Merchant Bank said it is now better equipped to underwrite larger transactions, deliver more competitive financing solutions, and enhance its overall service delivery across multiple sectors.
Speaking on the development, the Chairman of Greenwich Group, Kayode Falowo, described the achievement as a significant step in the bank’s long-term growth strategy. He stated that the successful capitalisation reflects the organisation’s resilience, commitment, and strategic vision for expansion. Falowo also expressed gratitude to shareholders, the Board, and management for their support and dedication, saying it positions the institution for greater success in the coming years.
The Managing Director and Chief Executive Officer of Greenwich Merchant Bank, Benson Ogundeji, also emphasised the broader importance of the capital raise. He explained that beyond regulatory compliance, the development demonstrates shareholders’ confidence in the bank’s vision and reinforces the trust it has built with clients and partners. According to him, the new capital base will enable Greenwich to offer innovative financial solutions, expand its service capacity, and contribute more meaningfully to Nigeria’s economic growth.
Going forward, the bank stated that its customers will benefit from enhanced access to customised banking and financing solutions, while investors can anticipate improved returns driven by expanded business operations, stronger market positioning, and long-term value creation.
Greenwich Merchant Bank, formerly known as Greenwich Trust Limited, was established in February 1992 and officially converted to a merchant bank in September 2020. The institution has since built a strong reputation in investment banking, asset management, and financial advisory services.
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