Quest Merchant Bank Meets New Capital Requirement

With about 20 days to the recapitalisation deadline, Quest Merchant Bank Limited said it had successfully met the N50 billion minimum capital requirement mandated for merchant banks by the Central Bank of Nigeria (CBN), thereby strengthening its capital base and reinforcing its capacity to support Nigeria’s economic transformation.

According to the bank, this milestone reflects investors’ continued confidence in its long-term strategy, strong governance, and sustainable growth outlook. It also marks an important step in the Quest Merchant Bank’s post-divestment evolution under its new ownership, positioning the 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 a minimum capital threshold of N50 billion 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.

Acting managing director and chief executive officer of Quest Merchant Bank, Afolabi Olorode, described the achievement as a defining moment in the Bank’s evolution, saying, “This milestone marks a significant step forward for Quest Merchant Bank. Meeting the N50 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 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.” He stated.