As the Central Bank of Nigeria (CBN) recapitalisation exercise officially closed on March 31, 2026, most banks operating in the country rose to the challenge, meeting regulatory thresholds ahead of schedule.
Yet, among the pack, Fidelity Bank Plc distinguished itself with a proactive, well-sequenced capital strategy that has now positioned it comfortably above the new benchmark.
In a remarkable demonstration of market confidence and execution efficiency, Fidelity Bank opened and concluded a private placement in just one day on December 31, 2025. The exercise attracted leading institutional investors, including Afreximbank and its subsidiaries, underscoring strong belief in the bank’s strategic direction and leadership.
With the CBN’s verification process now complete, Fidelity Bank’s capital base exceeds the required N500 billion threshold, a milestone that reinforces its readiness to scale operations, deepen market presence, and enhance shareholder value.
Market analysts noted that the successful completion of the private placement underscores strong investor confidence in the bank’s growth strategy, governance framework and long-term fundamentals, even amid tightening regulatory standards and evolving macroeconomic conditions.
The lender had earlier announced to the investing public that it had surpassed the N500 billion regulatory capital threshold following the successful completion of a N259 billion private placement of ordinary shares.
The Company Secretary, Fidelity Bank, Ezinwa Unuigboje, in a signed statement on the Nigerian Exchange Limited (NGX), disclosed that the private placement, conducted with the approval of the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC), was opened and closed on December 31, 2025.
According to her, the proceeds from the exercise lifted Fidelity Bank’s eligible capital from N305.5 billion to N564.5 billion, subject to final regulatory approvals.
The latest capital raise positions the lender comfortably above the new minimum capital requirement of N500 billion for commercial banks with international authorisation, as stipulated by the apex bank under its banking sector recapitalisation programme.
According to the bank, the private placement was carried out pursuant to the mandate granted by shareholders at its Extraordinary General Meeting held on February 6, 2025.
At the meeting, shareholders authorised the board to issue up to 20 billion ordinary shares through a private placement as part of measures to strengthen the bank’s capital base and enhance its capacity to support economic growth.
The N259 billion raised through the private placement builds on the bank’s earlier capital-raising efforts. Fidelity Bank had taken an early lead in June 2024, launching a Public Offer and Rights Issue to raise capital.
The bank successfully raised N175.85 billion via a combination of a public offer and rights issue, increasing its eligible capital to N305.5 billion at the time. That exercise left a capital shortfall of N194.5 billion relative to the new regulatory benchmark—a gap now fully bridged by the latest transaction.
Fidelity Bank’s strategic sequencing of capital raises highlights a deliberate and disciplined approach to balance sheet strengthening. The bank noted that the enhanced capital position will improve resilience, support expansion, and enable it to play a more robust role in financing key sectors of the Nigerian economy, in line with regulatory expectations.
It added that it remains focused on value creation for shareholders, prudent risk management, and sustained profitability as it navigates the banking sector’s post-recapitalisation phase.
Meanwhile, Fidelity Bank’s stock closed trading on April 10, 2026, at N19.50 per share on the NGX, reflecting sustained investor interest in the bank’s growth trajectory.
***Culled from ThisDay
