By Ayomide Otitoju
Fidelity Bank Plc has exceeded the ₦500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN), following the successful completion of its recapitalisation programme ahead of the March 31, 2026 deadline.
The lender achieved the milestone through a ₦259 billion private placement of ordinary shares, which was opened and concluded within a single day on December 31, 2025, reflecting strong investor confidence. Key institutional investors, including Afreximbank and its subsidiaries, participated in the exercise, underscoring support for the bank’s growth strategy and leadership.
In a disclosure to the Nigerian Exchange Limited (NGX), the Company Secretary, Ezinwa Unuigboje, confirmed that the capital raise—conducted with approvals from the CBN and the Securities and Exchange Commission (SEC)—increased the bank’s eligible capital from ₦305.5 billion to ₦564.5 billion, subject to final regulatory approvals.
The development positions Fidelity Bank above the ₦500 billion threshold required for commercial banks with international authorisation under the apex bank’s recapitalisation framework.
Market analysts said the successful capital raise highlights sustained investor confidence in the bank’s governance structure, long-term fundamentals, and growth outlook, despite tightening regulatory requirements and a challenging macroeconomic environment.
The private placement was executed under a mandate granted by shareholders at an Extraordinary General Meeting held on February 6, 2025, which authorised the issuance of up to 20 billion ordinary shares to strengthen the bank’s capital base.
The latest exercise builds on earlier efforts by the bank to shore up its capital. In 2024, Fidelity Bank raised ₦175.85 billion through a public offer and rights issue, bringing its capital base to ₦305.5 billion at the time and leaving a shortfall of ₦194.5 billion relative to the new regulatory requirement—a gap now fully bridged.
Fidelity Bank stated that its strengthened capital position would enhance balance sheet resilience, support expansion initiatives, and improve its capacity to finance critical sectors of the Nigerian economy in line with regulatory expectations.
The bank also reaffirmed its commitment to delivering shareholder value, maintaining prudent risk management, and sustaining profitability as it transitions into the post-recapitalisation phase.
Meanwhile, Fidelity Bank’s shares closed at ₦19.50 on April 10, 2026, on the NGX.
