It is an offer of FCMB Group Plc shares to the public for subscription or purchase at a fixed price. The Group, a diversified financial services group with operations in banking, consumer finance, pensions, investment management, and investment banking, will issue 16,000,000,000 ordinary shares of 50 kobo each at ₦10.00 per share.

The Group is raising capital to support its banking subsidiary, First City Monument Bank Limited, in complying with the new minimum capital requirements introduced by the Central Bank of Nigeria. This requirement affects almost all banks in Nigeria, and they are also required to raise capital at this time.

FCMB Group will raise the capital and invest it in FCMB Limited as common equity. FCMB Limited will use the capital for general working purposes, including paying down expensive funds to improve the bank's cost of funds and increase its net interest margin. The capital will also enhance the bank's capital adequacy ratio, allowing it to create additional risk assets to increase profitability. The capital will be instrumental in achieving the bank's strategic objectives.

The offer price is ₦10.00 per share.