The Central Bank of Nigeria (CBN) has affirmed the capitalisation of Alpha Morgan Bank, marking a significant milestone in the bank’s growth journey and reinforcing its commitment to building a strong, resilient and future-ready financial institution.
The affirmation reflects the bank’s adherence to regulatory requirements and its strategic focus on strengthening its capital base to support sustainable growth, innovation and improved service delivery to customers.
With the development, Alpha Morgan Bank says it is well positioned to expand its footprint through its 14 approved branches across different states, while deepening financial inclusion and enhancing the range of banking solutions available to individuals, businesses and institutional clients nationwide.
Commenting on the milestone, Managing Director of the bank, Ade Buraimo, said the institution remains committed to regulatory compliance, strong corporate governance and delivering quality banking services in line with its long-term vision.
He noted that the bank’s goal is to become not only a strong financial institution but also one of the best places to work in the banking sector.
“Capitalisation is more than a regulatory requirement; it is an opportunity to strengthen the institution for the future,” Buraimo said.
“The affirmation of Alpha Morgan Bank’s capitalisation reflects the work we have done to build a solid capital foundation that allows us to support businesses more effectively, expand financial access and continue delivering the level of service our customers expect.”
He added that the bank remains committed to maintaining strong corporate governance standards, sound risk management practices and prudent financial management as it continues to support economic development and create long-term value for stakeholders.
As the bank enters the next phase of its growth journey, Alpha Morgan Bank plans to scale its operations, invest further in technology and expand both its branch network and digital banking presence, while delivering reliable banking experiences to its growing customer base.