FirstHoldCo Plc has assured of its dedication to adjust to the Central Bank of Nigeria’s (CBN) prudential laws, together with resolving breaches of the Single Obligor Restrict (SOL) and exiting forbearance on credit score amenities.
The {bank} additionally assured shareholders of its intention to proceed with dividend funds in 2025 and past.
In an announcement issued on Thursday, June 19, 2025, the {bank} defined that the Single Obligor Restrict (SOL) breach by its banking subsidiary, FirstBank, pertains to two overseas forex mortgage exposures that had been impacted by the over 200% Naira devaluation between 2023 and 2024.
The {bank} additional revealed it’s endeavor a capital increase anticipated to be accomplished within the second half of 2025. This transfer, together with different corrective measures, is anticipated to assist the {bank} restore compliance with prudential limits.
Concerning the forbearance of credit score amenities, FirstHoldCo famous that the affected loans are a part of syndicated trade exposures. The consortium of lenders concerned is at present working to restructure and re-tenor the amenities in step with improved asset efficiency and money circulation.
“All of the belongings are again to energetic manufacturing and producing considerable income,” the assertion mentioned, including that a few of the underlying initiatives even have excellent receivables awaiting fee from related authorities companies.
FirstHoldCo emphasised that the syndicate is anticipated to conclude the restructuring course of inside the present {financial} yr.
If any mortgage isn’t absolutely re-tenored, FirstHoldco assured that full provisioning shall be made to allow a clear exit from forbearance.
FirstHoldCo’s response supplies readability and confidence, because it strikes to resolve regulatory exposures, strengthen capital, and shield shareholder worth.
With a capital increase scheduled for the second half of 2025 and the lending consortium actively restructuring and re-tenoring the affected amenities, the {bank} seems well-positioned to navigate regulatory tightening.
Importantly, FirstHoldCo has additionally assured shareholders of its intention to proceed dividend funds in 2025 and past, signaling sturdy confidence in its {financial} place and long-term worth creation.
As beforehand reported by Nairametrics, the CBN not too long ago directed banks beneath regulatory forbearance to droop dividend funds, defer government bonuses, and halt overseas investments.
