Stakeholders Applaud NGX for Supporting Firms in Capital Raising Drive 

Kayode Tokede

NGX Invest’s strong track record in capital-raising support has earned recognition from key stakeholders.

Director General of the Securities and Exchange Commission (SEC), Emomotimi Agama noted that banks using NGX Invest have consistently achieved full subscription, often reaching oversubscription.

Similarly, Group CEO of FCMB Group Plc, Ladi Balogun praised the NGX Group for enabling over 40,000 investors to easily participate in FCMB’s recent public offering via the NGX Invest platform.

Currently, FBN Holdings Plc’s N150 billion rights issue is live on NGX Invest, offered on a one-for-six basis to existing shareholders. This digital channel provides eligible investors with streamlined access to the rights issue through NGX Invest.

At the “Facts Behind the Rights Issue” event hosted by the Exchange, FBN Holdings Group Managing Director, Mr. Nnamdi Okonkwo, highlighted the strategic importance of the offering. “We will leverage our diversified portfolio to ‘do more with less’ by optimizing costs, boosting efficiency, and enhancing revenue,” he said.

“Our goal is to expand strategically into new regions through both physical and digital means, while exploring valuable business adjacencies.” Okonkwo further praised NGX Invest for expanding the reach of their capital raise, saying it “allows us to reach a wider investor base with ease.”

With FBN Holdings joining six other Nigerian banks that recently used NGX Invest for public offerings and rights issues, this move aligns with the Central Bank of Nigeria’s (CBN) new capital adequacy requirements, which mandate stronger capital bases by 2026. So far, NGX Invest has facilitated approximately ₦1.26 trillion (about $770 million) in banking sector capital raises.

Group CEO of NGX Group, Temi Popoola emphasized the platform’s importance, stating, “NGX Invest’s secure, well-regulated infrastructure has become the go-to choice for issuers distributing offerings digitally. We are proud to support financial institutions and other issuers in capital-raising efforts, helping them reach broader investor bases and drive economic growth.”