Bennett Oghifo

Greenwich Merchant Bank has successfully met the Central Bank of Nigeria’s (CBN) N50 billion minimum capital requirement for merchant banks, marking a major milestone in its transformation and reaffirming investor confidence. Founded in 1992 as Greenwich Trust Limited, the institution transitioned into a full-fledged merchant bank in 2020, operating across corporate banking, investment banking, treasury, asset management, and securities trading.

Chairman Kayode Falowo described the recapitalisation as both compliance and a reaffirmation of confidence in Nigeria’s economy. The N50 billion target was achieved through a rights issue and private placement, raising N22.6 billion in new equity. Managing Director Benson Ogundeji said the strengthened capital base will enable the bank to finance large-scale projects in infrastructure, energy, and manufacturing while expanding wealth management and digital innovation.

The recapitalisation aligns with the CBN’s directive to bolster capital adequacy across the sector. Greenwich recently earned an ‘A-’ credit rating from Agusto & Co., underscoring its stability and governance strength.

As it enters a new growth phase, Greenwich aims to deliver sustainable returns and deepen its role in Nigeria’s economic diversification. The milestone reinforces its reputation for resilience, prudent leadership, and long-term value creation.