By Ayomide Otitoju
Fidelity Bank Plc has assured its shareholders and stakeholders of its financial strength and commitment to regulatory compliance, following the recent circular from the Central Bank of Nigeria (CBN) regarding regulatory forbearance and Single Obligor Limit (SOL) exposures.
In a statement signed by Company Secretary Ezinwa Unuigboje, the bank reaffirmed its solid capital base and readiness to fulfill dividend obligations for the 2025 financial year. The clarification comes amid industry-wide assessments initiated by the CBN under directive Ref No. BSD/DIR/CON/LAB/018/008.
Fidelity Bank reported the successful completion of a ₦273 billion capital raise through a Public Offer and Rights Issue — oversubscribed by 237.92% and 137.73%, respectively — as part of its strategy to meet the CBN’s ₦500 billion minimum capital requirement for banks with international licenses.
To further consolidate its position, the bank disclosed plans to raise an additional ₦200 billion via Private Placement during the current financial year. Approvals have already been secured from the CBN and shareholders, with other regulatory clearances in progress.
Regarding its exposure under the CBN’s regulatory forbearance, Fidelity explained that only two obligors are involved under the Single Obligor Limit and that steps are underway to bring the exposure within acceptable thresholds in the first half of 2025.
The bank also disclosed that four customers are involved in credit facilities covered under broader CBN forbearance measures. Substantial provisioning has been made, with targeted strategies deployed to ensure full provisioning or reclassification as performing accounts by June 30, 2025.
Fidelity emphasized that it remains well-capitalized and fully prepared to exit all regulatory forbearance arrangements within the specified timeframe. The bank concluded by thanking its investors, customers, and partners for their continued support and confidence.
