Fidelity Bank Leads Recapitalisation Race, Surpasses N500bn Threshold

As the Central Bank of Nigeria (CBN)’s banking sector recapitalisation exercise closed on March 31, 2026, most Nigerian banks met the new requirements ahead of schedule. However, Fidelity Bank stood out with a swift and strategic approach that underscored strong investor confidence and institutional backing.

As the Central Bank of Nigeria (CBN)’s banking sector recapitalisation exercise closed on March 31, 2026, most Nigerian banks met the new requirements ahead of schedule. However, Fidelity Bank stood out with a swift and strategic approach that underscored strong investor confidence and institutional backing.

In a remarkable move, the bank opened and completed a N259 billion private placement in a single day—December 31, 2025—drawing major investments from leading institutions, including Afreximbank and its subsidiaries. The exercise, approved by both the CBN and the Securities and Exchange Commission (SEC), significantly boosted the bank’s capital base.

According to a statement signed by the Company Secretary, Ezinwa Unuigboje, and filed with the Nigerian Exchange Limited (NGX), the capital raise increased Fidelity Bank’s eligible capital from N305.5 billion to N564.5 billion, subject to final regulatory approvals. This places the bank comfortably above the N500 billion minimum requirement for banks with international authorisation.

Market analysts say the successful transaction reflects strong confidence in the bank’s governance, growth strategy, and long-term fundamentals, even amid tighter regulations and shifting economic conditions.

The private placement builds on earlier capital-raising efforts. In 2024, Fidelity Bank raised N175.85 billion through a public offer and rights issue, bringing its capital to N305.5 billion at the time and leaving a gap of N194.5 billion—now fully bridged by the latest exercise.

The capital raise was executed under a mandate granted by shareholders at the bank’s Extraordinary General Meeting on February 6, 2025, authorising the issuance of up to 20 billion ordinary shares via private placement.

With its strengthened capital position, Fidelity Bank says it is well-positioned to expand operations, enhance balance sheet resilience, and play a bigger role in financing critical sectors of the Nigerian economy. The bank also reaffirmed its commitment to shareholder value, prudent risk management, and sustained profitability in the post-recapitalisation era.

Meanwhile, Fidelity Bank’s shares closed at N19.50 on April 10, 2026, on the NGX.

Source: Kayode Tokede, ThisDay Newspaper

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