Quest Merchant Bank Achieves CBN Regulatory Recapitalisation Milestone, Reinforces Capacity to Drive Nigeria’s Economic Growth

Lagos, Nigeria – March 5, 2026 – Quest Merchant Bank Limited has successfully met the ₦50
billion minimum capital requirement mandated for merchant banks by the Central Bank of
Nigeria (CBN) strengthening the Bank’s capital base and reinforcing its capacity to support
Nigeria’s economic transformation.
This milestone reflects investors’ continued confidence in the Bank’s long-term strategy,
strong governance, and sustainable growth outlook. It also marks an important step in the
Bank’s post-divestment evolution under its new ownership, positioning Quest Merchant
Bank with the balance-sheet strength needed to execute its next phase of growth.
With a significantly enhanced capital base, Quest Merchant Bank is now better positioned to
underwrite larger transactions and expand its advisory, capital markets, and structured
financing capabilities across priority sectors of the Nigerian economy.
The CBN’s recapitalisation directive, which sets ₦50 billion as the minimum capital threshold
for merchant banks, is designed to reinforce the resilience, stability, and lending capacity of
Nigeria’s financial system. By meeting this benchmark, Quest Merchant Bank reinforces its
standing as a trusted financial partner in infrastructure, energy, manufacturing, and
corporate growth initiatives nationwide.
Afolabi Olorode, Acting Managing Director and Chief Executive Officer of Quest Merchant
Bank, described the achievement as a defining moment in the Bank’s evolution:
“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.”
Quest Merchant Bank remains committed to responsible growth, innovation, and delivering
strategic financial solutions that empower businesses and institutions across Nigeria.