GTCO raises N10bn from ordinary shares

Guaranty Trust Holding Company Plc (GTCO) has secured regulatory approvals to raise N10 billion through a private placement of its ordinary shares, further strengthening its capital position in line with regulatory requirements for financial holding companies in Nigeria. The approvals were granted by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission […]

Guaranty Trust Holding Company Plc (GTCO) has secured regulatory approvals to raise N10 billion through a private placement of its ordinary shares, further strengthening its capital position in line with regulatory requirements for financial holding companies in Nigeria.

The approvals were granted by the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), subject to the fulfilment of applicable conditions precedent and other regulatory requirements.

The development was disclosed in a statement issued in Lagos and London on December 30, 2025, and signed by the Group General Counsel and Company Secretary of GTCO, Mr. Erhi Obebeduo

According to the statement, the private placement is being undertaken pursuant to Section 7.1 of the Guidelines for the Licensing and Regulation of Financial Holding Companies (FHCs) in Nigeria, which governs the computation of capital for holding companies.

GTCO explained that the capital raise is not linked to the recapitalisation of its banking subsidiary, Guaranty Trust Bank Limited, which had already surpassed the new minimum capital requirement for commercial banks with international authorisation. The bank had earlier announced, on August 29, 2025, that it had increased its capital base to ₦504.04 billion, exceeding the threshold set by the CBN.

“As such, the private placement is solely being raised to meet the regulatory capital requirements applicable to the financial holding company,” the statement noted.

The N10 billion private placement will be executed through the allotment of 125 million ordinary shares of ₦0.50 each. The shares are being offered at ₦80 per share under a best-efforts arrangement, with gross proceeds of up to ₦10 billion.

GTCO said the transaction is being carried out under the authority granted to the Board by shareholders at the company’s Annual General Meeting held on May 9, 2024. At that meeting, shareholders approved the establishment of a capital-raising programme of up to $750 million, or its equivalent, through a combination of ordinary shares, preference shares, convertible and non-convertible bonds or other instruments, to be issued via public offers, private placements, rights issues or other approved methods, in tranches and on terms determined by the Board.

“The Board has therefore authorised the Company to embark on a private placement to raise ₦10,000,000,000.00 by the allotment of 125,000,000 ordinary shares,” the statement said.

The private placement is scheduled to close on December 31, 2025, subject to the satisfaction of all required conditions, including the receipt of final regulatory approvals.

GTCO noted that the transaction aligns with its broader capital management strategy and supports the Group’s long-term growth objectives, while ensuring continued compliance with evolving regulatory standards.

The holding company, which operates across banking, payments, asset management and pension administration, remains one of Nigeria’s largest and most diversified financial services groups, with operations spanning Africa and the United Kingdom.