Signature Bank Surpasses CBN Capital Requirement With ₦52 Billion Raise

Signature Bank Limited has increased its capital base to ₦52 billion, exceeding the ₦50 billion minimum requirement set for regional commercial banks by the Central Bank of Nigeria (CBN).

The increase was achieved through a rights issue and places the bank among financial institutions that have successfully complied with the regulator’s ongoing banking sector recapitalisation programme.

The recapitalisation initiative, introduced by the CBN in 2024, requires banks across Nigeria to strengthen their capital reserves. The policy is aimed at improving financial system stability, expanding banks’ capacity to lend, and enhancing resilience to both domestic and global economic shocks.

By surpassing the regulatory benchmark, Signature Bank has reinforced its financial position and increased its capacity to support businesses and economic activities within the regions where it operates.

Commenting on the development, Chairman of the bank, Tijjani M. Borodo, said the successful capital raise reflects the confidence shareholders have in the institution’s long-term strategy and governance structure.

According to him, the stronger capital base will enable the bank to better support businesses and communities while delivering long-term value to stakeholders.

Managing Director and Chief Executive Officer, Nixon Iwedi, also described the recapitalisation as a major step in the bank’s growth journey.

He noted that the strengthened capital position will allow the bank to expand its lending operations, scale responsibly, and broaden its presence across key economic regions in Nigeria.

Iwedi added that the bank’s strategy remains focused on building a technology-driven financial institution that supports entrepreneurs, businesses and households with innovative banking solutions.

Signature Bank offers a wide range of services including retail banking, SME financing, corporate banking, trade finance, treasury services and digital payment solutions. Customers can also access its services through digital platforms such as the Signature Mobile App, USSD banking via *647#, payment cards and merchant point-of-sale systems.

Established in 2022, Signature Bank operates as a licensed financial institution under the Central Bank of Nigeria, providing customer-focused and technology-enabled banking services aimed at supporting individuals, businesses and communities across the country.