Rand Merchant Bank Nigeria achieves CBN capital milestone
Rand Merchant Bank Nigeria Limited has announced that it has met the new minimum capital requirement set by the Central Bank of Nigeria. The bank highlighted this achievement as a sign of its financial strength and commitment to regulatory compliance. Bayo Ajayi, Chief Executive Officer of RMBN, expressed pride in reaching this milestone. The move positions the bank to enhance its services and contribute to the stability of Nigeria’s banking sector.
TLDR
- Rand Merchant Bank Nigeria Limited confirmed it has met the new minimum capital requirement as set by the Central Bank of Nigeria.
- The bank achieved the Minimum Capital Requirement (MCR) on 30 December 2025.
- In March 2024, the CBN raised minimum capital requirements for banks, with merchant banks required to meet a N50 bn threshold.
- Bayo Ajayi stated that this accomplishment reflects shareholders’ confidence and the bank’s dedication to delivering top-tier services.
- The CBN Governor, Olayemi Cardoso, noted that several banks have already met the new capital thresholds, with sixteen banks exceeding the requirements so far.
