Signature Bank Limited has successfully increased its capital base to ₦52 billion, exceeding the Central Bank of Nigeria’s ₦50 billion minimum threshold for regional commercial banks. The move comes as part of the regulator’s ongoing recapitalisation programme aimed at strengthening banks’ financial stability and lending capacity.
Brandspur Banking News Desk reports that the capital boost was achieved through a rights issue, positioning Signature Bank among institutions fully compliant with CBN’s 2024 recapitalisation directive. The additional capital is expected to enhance the bank’s resilience to domestic and global economic fluctuations while enabling it to support growth in enterprise and community development within its regional markets.
Chairman of Signature Bank, Alhaji Tijjani M. Borodo, said the successful rights issue reflects strong shareholder confidence in the bank’s strategy and governance. “This milestone underscores our shareholders’ commitment to Signature Bank’s long-term vision. A strengthened capital base allows us to support businesses and communities more effectively while delivering sustainable value to stakeholders,” he said.
Managing Director and CEO, Mr. Nixon Iwedi, described the recapitalisation as a critical step in the bank’s expansion plan. “By bolstering our capital position, we are able to scale responsibly, deepen our lending activities, and expand across strategic economic regions in Nigeria. Our focus remains on building a technology-driven bank that empowers entrepreneurs, businesses, and households with innovative financial solutions,” he explained.
Signature Bank offers a wide array of financial services, including retail banking, SME financing, corporate banking, trade finance, treasury services, and digital payments. Customers access these services through digital platforms such as the Signature Mobile App, USSD *647# banking, payment cards, and merchant POS solutions. With the strengthened capital base, the bank aims to deepen financial intermediation and contribute to Nigeria’s broader economic development.
Founded in 2022, Signature Bank Limited is licensed by the Central Bank of Nigeria to provide innovative, inclusive, and customer-centric banking solutions. The institution has maintained a focus on accessible and secure financial services, empowering individuals, businesses, and communities across Nigeria.
Website: www.signaturebankng.com
