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FIRST HoldCo Plc has announced the successful completion of the N45 billion second tranche of its ongoing N350 billion private placement programme after obtaining all necessary approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). The fresh capital will be injected into First Bank of Nigeria Limited (FirstBank), the […]
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IN the first quarter (Q1) of 2024, the Central Bank of Nigeria (CBN) rolled out new recapitalisation rules mandating international banks to raise at least N500 billion. National banks were required to raise N200 billion, while regional banks were asked to meet the N50 billion capital requirement of N50 billion. There were also N20 billion […]
THE operating expenses of FirstHoldco Plc, First Bank’s parent company, increased by 42 percent year-to-date to September (January to September) 2025, with line items such as advert and corporate promotions, travels, directors’ emoluments and donations/subscriptions surging. The company spent a total of N597.768 billion on operating expenses from January to September 2025 as against N421.321 […]
REGULATORS have come under heavy criticisms for failing to fully disclose the buyer of 10.43 billion shares of FirstHoldco in a transaction valued at at N323.4 billion. A so-called mystery buyer, which was reported earlier as Mr Femi Otedola, had purchased the shares of Mr Oba Otudeko and Mr Tunde Hassan-Odukale, two former majority shareholders […]