Fidelity Bank Reaffirms Compliance with CBN's Forbearance Directive, Assures Shareholders of Financial Strength
Lagos, Nigeria – June 18, 2025
Fidelity Bank Plc has issued a formal statement in response to a recent circular from the Central Bank of Nigeria (CBN) concerning regulatory forbearance on Single Obligor Limits (SOL) and other credit exposures. The Bank reaffirmed its commitment to compliance, transparency, and sound financial management, while assuring shareholders and stakeholders of its robust capital position and long-term stability.
In the statement signed by its Company Secretary, Ezinwa Unuigboje, Fidelity Bank described the CBN directive—referenced BSD/DIR/CON/LAB/018/008—as a regulatory measure aimed at strengthening capital buffers and enhancing prudence within the banking sector.
According to the Bank, it has already taken proactive steps to meet the new minimum capital requirement of ₦500 billion for banks with international authorization. This includes the successful completion of a Public Offer and Rights Issue that raised ₦273 billion—oversubscribed by 237.92% and 137.73%, respectively. The Bank also disclosed plans to raise an additional ₦200 billion via a Private Placement within the 2025 financial year. Necessary approvals from the CBN and shareholders have been secured, while other regulatory clearances are currently being processed.
On the issue of the Single Obligor Limit, Fidelity Bank clarified that the exposure under the CBN’s forbearance relates to only two obligors and expressed confidence that this will be regularized within the first half of 2025.
Furthermore, the Bank revealed that forbearance on other credit facilities involves four customers. It has already made significant provisions and taken targeted steps to either fully provision the accounts or return them to performing status by June 30, 2025.
“Fidelity Bank expects to exit all CBN forbearance arrangements (both SOL and credit-related) within the stipulated timeframe,” the statement said. “We are in a strong financial position and expect to meet all regulatory requirements necessary to pay dividends for the current financial year and beyond.”
The Bank expressed appreciation to its investors, customers, and stakeholders for their continued confidence and support.
For further enquiries, stakeholders can contact the Bank via email at info.investor@fidelitybank.ng or call +234 1 2700 530, 531, or 532.
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