Signature Bank Limited has increased its capital base to ₦52 billion, exceeding the ₦50 billion minimum capital requirement set by the Central Bank of Nigeria for regional commercial banks. The milestone was achieved through a successful rights issue as part of the ongoing banking sector recapitalisation programme introduced by the regulator.
The recapitalisation initiative announced by the Central Bank in 2024 requires Nigerian banks to strengthen their capital buffers. The objective is to enhance financial system ility, increase lending capacity, and help financial institutions withstand both domestic and global economic shocks.
By surpassing the regulatory threshold, Signature Bank has strengthened its balance sheet and improved its ability to support businesses and economic activity across the regions where it operates.
Chairman of the bank, Tijjani M Borodo, said the capital raise reflects strong confidence from shareholders in the institution’s strategic direction and governance structure.
According to him, the achievement represents a major step toward strengthening the bank’s resilience and expanding its ability to support enterprises and communities while delivering long term value to stakeholders.
The Managing Director and Chief Executive Officer, Nixon Iwedi, also described the recapitalisation as a critical milestone in the bank’s growth strategy. He explained that the stronger capital base will enable the bank to scale operations responsibly, increase lending activities, and extend services to more economic regions across Nigeria.
Iwedi added that the bank remains focused on building a technology driven financial institution that supports entrepreneurs, small businesses, and households through innovative banking solutions.
Signature Bank offers a wide range of financial services including retail banking, SME financing, corporate banking, trade finance, treasury services, and digital payment solutions. Customers can also access banking services through several digital platforms such as the Signature Mobile App, USSD banking via *647#, payment cards, and merchant POS systems.
Elished in 2022, Signature Bank continues to position itself as a next generation financial institution committed to delivering inclusive, secure, and customer focused financial services. With its strengthened capital position, the bank aims to play a larger role in supporting economic growth and financial inclusion in Nigeria.
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