By Ayomide Otitoju
In a clear show of confidence in the resilience and long-term prospects of Fidelity Bank Plc, the bank’s Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, has acquired an additional 18 million shares of the institution, amounting to approximately ₦366 million.
The transaction, disclosed in a regulatory filing on the Nigerian Exchange Group (NGX) portal, was executed at ₦20.35 per share on May 19, 2025. The purchase coincided with the circulation of an online report referencing a Supreme Court judgment involving a legacy $3 million credit facility originally issued by the defunct FSB International Bank, which Fidelity Bank absorbed in 2005.
This recent acquisition builds on previous share purchases by the CEO. In November 2024, Onyeali-Ikpe bought a combined 25 million shares of the bank valued at over ₦397 million. The consistent investments signal a strong personal commitment to Fidelity Bank’s strategic direction and operational stability.
Demonstrating Leadership Through Investment
Onyeali-Ikpe’s repeated share purchases have been widely interpreted as a vote of confidence in the bank’s governance, financial health, and growth trajectory. Her actions send a clear message of stability at a time when the bank has faced speculative commentary regarding the court ruling.
Industry watchers have praised the move as a bold demonstration of leadership. By increasing her stake in the bank during a period of public scrutiny, Onyeali-Ikpe has sought to reassure stakeholders and investors alike of Fidelity Bank’s solid fundamentals.
Strong Financial Results Back Confidence
Fidelity Bank’s recent financial performance supports the optimism. For the first quarter of 2025, the bank reported a Profit Before Tax (PBT) of ₦105.8 billion, representing a remarkable 167.8% increase over the ₦39.5 billion recorded in the same period of 2024. Gross earnings surged to ₦315.4 billion, a 64.2% year-on-year growth, fueled by both interest and non-interest income.
The bank’s balance sheet remains strong, with total deposits rising by 11.1% year-to-date to ₦6.6 trillion, and net loans and advances increasing by 5.0% to ₦4.6 trillion. These indicators reflect a healthy liquidity position and a strong capacity for supporting large-scale transactions.
Despite negative reports, the Central Bank of Nigeria (CBN) has dismissed claims questioning the bank’s financial standing, reaffirming Fidelity Bank’s compliance with regulatory requirements and describing the Nigerian banking sector as “resilient, safe, and sound.”
Market Stability Despite Headwinds
Fidelity Bank’s share price has remained relatively stable in the wake of the legal headlines. After peaking at ₦21.00 on May 13, 2025, the stock dipped slightly to close at ₦20.00, a modest 3.8% decrease—an indication of sustained investor confidence.
As Fidelity Bank continues to engage in resolving the inherited legal matter in accordance with the court’s directives, Onyeali-Ikpe’s leadership and personal investment have sent a strong signal to stakeholders. Her actions underscore the institution’s resilience and reaffirm its position as one of Nigeria’s most stable and growth-oriented financial institutions.
