By Seun Ibiyemi
Fidelity Bank Plc has successfully raised N259 billion from a Private Placement of Ordinary Shares, significantly strengthening its capital base as it moves to meet new regulatory requirements.
In a statement issued by the Bank, the Private Placement, which opened and closed on December 31, 2025, followed approvals from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC).
The statement was signed by the Company Secretary, Ezinwa Unuigboje, on behalf of Fidelity Bank Plc.
The exercise increased the bank’s eligible capital from N305.5 billion to N564.5 billion, subject to final regulatory approvals.
The bank said the Private Placement was conducted pursuant to the authorisation granted by shareholders at its Extraordinary General Meeting held on February 6, 2025, which approved the issuance of up to 20 billion ordinary shares by way of Private Placement.
Fidelity Bank had earlier raised N175.85 billion through a Public Offer and Rights Issue in 2024, which brought its eligible capital to N305.5 billion.
This left a funding gap of N194.5 billion in its drive to meet the new minimum regulatory capital requirement of N500 billion for commercial banks with international authorisation.
With the successful completion of the latest capital raise, the bank has now exceeded the regulatory threshold, reinforcing its balance sheet and positioning it for sustained growth and expansion.
The bank noted that the capital raise underscores its commitment to maintaining strong capital adequacy, supporting business growth, and delivering long-term value to shareholders.