Quest Merchant Bank Limited has met the ₦50 billion minimum capital requirement for merchant banks set by the Central Bank of Nigeria, strengthening its capital base and positioning the institution to play a larger role in financing Nigeria’s economic growth.
The bank confirmed the milestone on 5 March 2026, describing it as a significant step that reinforces its balance sheet and enhances its capacity to support key sectors of the Nigerian economy.
According to the bank, the recapitalisation reflects sustained investor confidence in its long-term strategy, corporate governance and growth outlook. It also represents a key stage in the bank’s post-divestment transition under new ownership, providing the financial strength required to pursue its next phase of expansion.
With the stronger capital position, Quest Merchant Bank said it is now better placed to underwrite larger transactions and broaden its advisory, capital markets and structured finance services across priority sectors of the economy.
The Central Bank of Nigeria introduced the ₦50 billion capital threshold as part of its regulatory framework aimed at strengthening the resilience, stability and lending capacity of Nigeria’s financial system. By meeting the requirement, Quest Merchant Bank says it is reinforcing its role as a financial partner supporting projects in infrastructure, energy, manufacturing and broader corporate growth initiatives.
Afolabi Olorode, Acting Managing Director and Chief Executive Officer of Quest Merchant Bank, described the achievement as a defining moment in the bank’s development.
“This milestone marks a significant step forward for Quest Merchant Bank. Meeting the ₦50 billion capital requirement underscores investors’ confidence in our strategy and reflects the strength of our governance and franchise.
“With this strengthened capital position, we are equipped to play an even greater role in financing key sectors of the Nigerian economy, enabling private enterprise, and supporting sustainable economic expansion.
“Our focus remains clear. We will continue to continue to help our clients succeed, while serving as a trusted long-term partner in delivering sustainable growth.”
The bank added that it remains focused on responsible growth, innovation and providing strategic financial solutions to businesses and institutions across Nigeria.
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