CBN Affirms Alpha Morgan Bank’s Capitalisation, Says Management

The management of Alpha Morgan Bank said the Central Bank of Nigeria (CBN) has affirmed its capitalisation.

In a statement on Saturday, the bank said the development marks a key milestone in its growth and strategic expansion.

The affirmation, according to the bank, reflects its compliance with regulatory requirements and its commitment to building a strong and resilient financial institution capable of supporting sustainable growth and improved service delivery.

With the milestone achieved, the bank said it is positioned to expand operations across its 14 approved branches in different states while deepening financial inclusion and broadening banking solutions for individuals, businesses and institutional clients.

Commenting on the development, the managing director of the bank, Ade Buraimo, said the institution remains committed to regulatory compliance, sound corporate governance and improved customer service.

“Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future. The affirmation of Alpha Morgan Bank’s capitalisation reflects the work we have done to build a solid capital foundation that enables us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect,” he said.

He added that the bank will continue to strengthen its governance framework, risk management practices and prudent financial management as part of efforts to support economic development and create long-term value for stakeholders.

Alpha Morgan Bank also disclosed plans to scale its operations, invest in technology and expand both its branch network and digital banking platforms as it enters the next phase of growth.

The bank said these initiatives are aimed at delivering more reliable and efficient banking services to its growing customer base across the country.