Fidelity Bank Surges Ahead in Recapitalisation Drive with ₦564bn Capital

Fidelity Bank is surging ahead in recapitalisation drive with ₦564bn capital.

 

NewsOnline Nigeria reports that as the recapitalisation deadline set by the Central Bank of Nigeria (CBN) closed on March 31, 2026, most banks operating in Nigeria met the new capital requirements, with Fidelity Bank Plc emerging as one of the standout performers.

 

The bank successfully exceeded the ₦500 billion minimum capital threshold for commercial banks with international authorisation, reaching a capital base of ₦564.5 billion following a strategic private placement.

 

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Fidelity Bank’s capital boost was driven by a ₦259 billion private placement of ordinary shares, which was opened and concluded within a single day on December 31, 2025. The exercise, approved by both the CBN and the Securities and Exchange Commission Nigeria (SEC), attracted strong participation from institutional investors, including Afreximbank and its subsidiaries.

 

In a disclosure to the Nigerian Exchange Limited (NGX), the bank’s Company Secretary, Ezinwa Unuigboje, confirmed that the capital raise increased the bank’s eligible capital from ₦305.5 billion to ₦564.5 billion, subject to final regulatory approvals.

 

The latest development marks a significant milestone in the bank’s recapitalisation journey and positions it strongly for future growth, expansion, and improved returns to shareholders.

 

Analysts say the successful private placement reflects strong investor confidence in Fidelity Bank’s strategy, governance structure, and long-term fundamentals, especially amid evolving economic conditions and tighter regulatory standards.

 

The recapitalisation effort builds on earlier fundraising initiatives by the bank. In June 2024, Fidelity Bank raised ₦175.85 billion through a combination of a public offer and rights issue, bringing its capital base to ₦305.5 billion at the time. The latest transaction has now fully bridged the previous capital shortfall of ₦194.5 billion.

 

The capital raise was executed under a mandate approved by shareholders during the bank’s Extraordinary General Meeting held on February 6, 2025, which authorised the issuance of up to 20 billion ordinary shares through a private placement.

 

With its strengthened capital position, Fidelity Bank said it is better equipped to enhance balance sheet resilience, expand operations, and support key sectors of the Nigerian economy in line with regulatory expectations.

 

The bank reaffirmed its commitment to delivering value to shareholders, maintaining prudent risk management, and sustaining profitability in the post-recapitalisation era.

 

Meanwhile, Fidelity Bank’s shares closed at ₦19.50 on April 10, 2026, on the Nigerian Exchange, reflecting continued market interest in the lender’s performance.