Nume Ekeghe
With exactly 28 days to the deadline fixed by the Central Bank of Nigeria (CBN) for banks to meet the new recapitalisation requirements, Optimus Bank has successfully raised its paid-up capital to N200 billion, thereby retaining its national banking licence.
THISDAY gathered from reliable industry sources that the fresh capital injection has now been verified by the apex bank, placing Optimus Bank among financial institutions that have complied with the revised minimum capital threshold for national banks.
A senior employee of the bank, who pleaded to remain anonymous because he was not authorised to speak publicly on the matter, confirmed the development, noting that the bank had officially met the stipulated capital requirement within the regulatory timeline and in line with prudential guidelines following the central bank’s approval.
The Olayemi Cardoso-led Central Bank of Nigeria (CBN) had, on March 28, 2024, announced a two-year bank recapitalisation exercise which commenced on April 1, 2024. The 24-month timeline for compliance ends on March 31, 2026. The upward capital revision is expected to ensure that Nigerian banks have the capacity to take on bigger risks and stay afloat amid both domestic and external shocks.
Specifically, the recapitalisation exercise requires a minimum capital of N500 billion, N200 billion, and N50 billion for commercial banks with international, national, and regional licences, respectively.
THISDAY further gathered that following the recapitalisation directive announced in 2024, Optimus Bank conducted different rounds of rights issues to existing shareholders and a private placement programme to raise funds from new investors, which significantly boosted its capital to N200 billion, strengthening its balance sheet and positioning it for expanded operations.
The recapitalisation forms part of the CBN’s broader banking sector reform aimed at enhancing financial system stability, improving banks’ capacity to support large-ticket transactions, and strengthening resilience against macroeconomic shocks.
Built with a bold ambition of offering optimum banking experiences to millions of customers globally, Optimus Bank operates as a digital-driven financial services platform tailored to personal, corporate and business financial needs.
The bank is registered under the laws of the Federal Republic of Nigeria and licenced as a national bank by the CBN, while complying with all statutes and regulations applicable to Deposit Money Banks (DMBs) in the country.
As a technology-forward institution, Optimus Bank has developed intuitive products designed to address the evolving needs of its diverse customer base. Customers can conveniently open accounts and conduct transactions without visiting a physical branch through its digital channels, including its website, *930# USSD service, Optiverse mobile app and internet banking platforms.
The bank’s vision is to unlock new opportunities for stakeholders and communities by delivering value through sustainable and scalable financial solutions for individuals and businesses. With its strengthened capital base, industry analysts say Optimus Bank is better positioned to deepen market penetration, expand its loan book, and accelerate digital innovation in Nigeria’s increasingly competitive banking landscape.
Analysts who hailed the bank on the feat said the fresh capital would enable the bank to be able to do a lot more, collaborate more with international funders such as the International Finance Corporation, Afreximbank, Africa Finance Corporation, among others, to scale up lending and its intermediation role. It would also enable the bank expand its operations, enhance digital transformation, and contribute more to economic growth in Nigeria.
