Nigerian banking stocks surge 12.24% as lenders raise over $662 million in new capital
Nigerian banking stocks surged after major lenders raised over ₦1 trillion from the stock market. The NGX Banking Index increased by 12.24% at market close on February 14.
Stanbic IBTC to inject ₦4 billion into fintech subsidiary, Zest
Stanbic IBTC Holdings Plc is recapitalizing Zest Payments Limited with ₦4 billion. The funding represents about 3% of the total ₦148.71 billion capital raising exercise.
Condia Insider: Safaricom is under fire
GTCO completes the first phase of its mandatory capital raise, securing ₦209.41 billion from investors. The Central Bank of Nigeria mandates commercial banks to raise their capital base to ₦500 billion by March 2026.
GTCO’s fintech HabariPay begins recovery of ₦1.1 billion sent to customers in error
HabariPay initiates legal process to recover ₦1.1 billion erroneously sent. Federal high court grants application to restrict accounts involved.
GTCO targets $750 million capital raise on NGX and London Stock Exchange
GTCO plans to raise $750 million by listing additional shares on the Nigerian and London Stock Exchange. The share sale will help the bank meet a new working capital requirement of ₦500 billion.
