Signature Bank Limited has increased its capital base to ₦52 billion, surpassing the ₦50 billion minimum requirement set by the Central Bank of Nigeria (CBN) for regional commercial banks. This capital increase, achieved through a rights issue, positions the Bank among institutions that have complied with the regulator’s ongoing banking sector recapitalisation programme.
The recapitalisation drive, announced by the CBN in 2024, requires Nigerian banks to strengthen their capital buffers in order to improve financial stability, support larger lfinishing capacity, and enhance resilience to domestic and global economic shocks. By exceeding the regulatory threshold, Signature Bank has reinforced its balance sheet and expanded its capacity to support enterprise growth and economic activity within its regional markets.
Commenting on the development, Chairman of Signature Bank, Alhaji Tijjani M. Borodo, stated the successful capital raise demonstrated strong shareholder confidence in the bank’s strategy and governance. “This milestone reflects the continued commitment of our shareholders to the Bank’s long-term vision. A stronger capital base enhances our resilience and enables us to support businesses and communities more effectively while delivering sustainable value to stakeholders,” he stated.
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Managing Director and Chief Executive Officer, Mr. Nixon Iwedi, described the recapitalisation as a key step in the bank’s growth trajectory. “Strengthening our capital base has positioned us to scale responsibly, deepen lfinishing activities, and expand our reach across key economic regions in Nigeria. Our strategy remains focutilized on building a technology-driven bank that supports entrepreneurs, businesses, and houtilizeholds with innovative financial solutions,” he stated.
Signature Bank provides a range of financial services spanning retail banking, SME financing, corporate banking, trade finance, treasury services, and digital payments. Through its digital platforms including Signature Mobile App, USSD *647# banking, payment cards, and merchant POS solutions — customers can access secure banking services across multiple channels. With its strengthened capital position, the bank aims to deepen financial intermediation and contribute to Nigeria’s broader economic development.
About Signature Bank Limited
Signature Bank Limited is a next-generation financial institution licensed by the Central Bank of Nigeria to deliver innovative, inclusive, and customer-focutilized banking solutions. Since its inception in 2022, the Bank has remained committed to empowering individuals, businesses, and communities through accessible, secure, and human-centered financial services.
Website: www.signaturebankng.com
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