Fidelity Bank Surpasses N500bn Capital Threshold, Leads Banking Recapitalisation Drive

Fidelity Bank Surpasses N500bn Capital Threshold, Leads Banking Recapitalisation Drive

LAGOS, NIGERIA — Fidelity Bank Plc has emerged as a frontrunner in Nigeria’s banking sector recapitalisation exercise, successfully exceeding the ₦500 billion minimum capital requirement set by the Central Bank of Nigeria (CBN).

The milestone follows the bank’s swift and strategic execution of a ₦259 billion private placement, which was opened and concluded within a single day on December 31, 2025—an achievement that underscores strong investor confidence in its growth trajectory and governance framework.

In a disclosure to the Nigerian Exchange Limited (NGX), the Company Secretary, Ezinwa Unuigboje, confirmed that the capital raise—conducted with regulatory approvals from the CBN and the Securities and Exchange Commission (SEC)—boosted the bank’s eligible capital from ₦305.5 billion to ₦564.5 billion, subject to final verification.

The successful transaction positions Fidelity Bank comfortably above the CBN’s recapitalisation benchmark for banks with international authorisation. Market analysts say the development reflects sustained investor trust in the lender’s long-term fundamentals, particularly amid tightening regulatory conditions and shifting macroeconomic realities.

Notably, leading institutional investors, including African Export-Import Bank (Afreximbank) and its subsidiaries, participated in the private placement, reinforcing confidence in the bank’s strategic direction and leadership.

The latest capital injection builds on earlier fundraising efforts. In 2024, Fidelity Bank raised ₦175.85 billion through a public offer and rights issue, which brought its capital base to ₦305.5 billion at the time. The recent private placement has now fully bridged the ₦194.5 billion shortfall required to meet the new regulatory threshold.

The recapitalisation initiative was backed by shareholders at the bank’s Extraordinary General Meeting held on February 6, 2025, where the board was authorised to issue up to 20 billion ordinary shares via private placement to strengthen the bank’s financial capacity.

Fidelity Bank stated that its enhanced capital position will improve balance sheet resilience, support expansion plans, and enable increased financing of 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 in the post-recapitalisation era.

Meanwhile, the bank’s shares closed at ₦19.50 on April 10, 2026, on the NGX, reflecting continued market interest following the successful capital raise.