Fidelity Bank Plc and Zenith Bank Plc have issued separate statements affirming their strong financial positions and compliance plans as they work toward exiting the Central Bank of Nigeria’s (CBN) regulatory forbearance by the stipulated deadline of June 30, 2025.
In a disclosure filed on the Nigerian Exchange (NGX) portal, Fidelity Bank confirmed its alignment with the CBN’s directive concerning Single Obligor Limits (SOL) and four other credit facilities.
The bank expressed confidence that all affected exposures would either be fully provisioned or restored to performing status by mid-year, ensuring full compliance with the central bank’s requirements.
Reinforcing its capital adequacy, Fidelity Bank disclosed that it had raised ₦273 billion through a recent Public Offer and Rights Issue, which were oversubscribed by 237.92% and 137.73%, respectively. The bank also revealed plans to raise an additional ₦200 billion via a Private Placement in 2025, in pursuit of the ₦500 billion minimum capital benchmark for banks with international authorisation.
“With the approval of both the CBN and our shareholders already secured, and regulatory processes nearing completion, we are well-positioned to meet all prevailing requirements and maintain dividend payments,” the bank stated.
Fidelity extended its appreciation to investors, customers, and other stakeholders for their confidence, underscoring its ongoing commitment to financial stability and prudent risk governance.
Similarly, Zenith Bank Plc, Nigeria’s largest bank by Tier-1 capital, reassured shareholders and investors of its readiness to comply with all regulatory obligations tied to forbearance. In a statement dated June 17, 2025, and filed with the NGX, the bank disclosed that its forbearance status involved a single obligor under the SOL provision and two additional customers with non-performing credit exposures.
Zenith Bank said it had made significant provisions for these facilities and had implemented corrective measures to ensure full provisioning by the CBN deadline. The bank affirmed that its current capital level surpasses the required ₦500 billion minimum, placing it in a robust position to continue delivering value to shareholders.
The bank reiterated its industry leadership, citing a history of innovative digital banking services and consistent financial excellence. Zenith Bank has been the number one Nigerian bank by Tier-1 Capital for 15 consecutive years, as recognised in the Top 1000 World Banks Ranking by The Banker Magazine.
Both Fidelity and Zenith Banks reiterated their commitment to maintaining regulatory compliance, protecting stakeholder interests, and sustaining their reputations as pillars of Nigeria’s banking sector.