Follow Us on Google
Signature Bank Limited has strengthened its capital base to N52 billion, surpassing the N50 billion minimum requirement set by the Central Bank of Nigeria for regional commercial banks under the ongoing banking sector recapitalisation programme.
The milestone follows the successful completion of a rights issue, placing the bank comfortably above the regulatory benchmark and reinforcing its financial position as lenders race to meet new capital thresholds introduced by the apex bank.
The capital raise forms part of Signature Bank’s broader strategy to reinforce its balance sheet, enhance resilience and position the institution for expansion across its regional banking markets.
With the stronger capital base, the bank said it is now better equipped to finance businesses, support larger transactions and deepen its presence in key economic corridors.
Commenting on the development, the Chairman of Signature Bank, Tijjani M. Borodo, said the successful fundraising underscores strong investor confidence in the bank’s strategy and governance structure.
“The successful execution of this rights issue demonstrates the strong commitment of our shareholders to the Bank’s long-term vision. With a strengthened capital foundation, we are better positioned to support enterprise development, promote inclusive growth, and deliver sustainable value to all our stakeholders,” he said.
The Managing Director and Chief Executive Officer, Nixon Iwedi, described the capital increase as a major milestone in the bank’s growth journey.
Other News
> “This achievement marks an important step in our growth trajectory. By strengthening our capital base, we have enhanced our ability to support larger-ticket transactions, deepen customer relationships, and accelerate innovation across our banking platforms. Our expansion strategy remains focused on strengthening our presence across key trade centres and other emerging growth corridors,” he said.
The recapitalisation comes as Nigerian banks continue to reposition for growth following the Central Bank of Nigeria directive requiring lenders to strengthen their capital bases to support a more resilient and globally competitive financial system.
Industry analysts say stronger capital buffers will enable banks to finance bigger projects, absorb economic shocks and support economic expansion.
Signature Bank said its improved capital base will allow it to expand lending to businesses, strengthen digital banking capabilities and deepen financial intermediation across its markets.
The bank offers a wide range of financial services including retail and corporate banking, SME financing, trade finance, structured lending and treasury services.
It also provides digital banking solutions through its technology platforms such as the Signature Mobile App, USSD banking service (*647#), corporate internet banking platform known as Signature Core, as well as card and point-of-sale payment solutions.
Established in 2022, Signature Bank said it remains focused on delivering innovative and customer-centred financial services while supporting enterprise growth and economic development across Nigeria.
