Fidelity Bank Plc has strengthened its capital position after successfully raising ₦259 billion through a private placement of ordinary shares, a move aligned with the ongoing banking recapitalisation programme.
The private placement, which opened and closed on December 31, 2025, was carried out with approvals from the Central Bank of Nigeria and the Securities and Exchange Commission. Proceeds from the exercise increased the bank’s eligible capital from ₦305.5 billion to ₦564.5 billion, subject to final regulatory clearance.
The capital raise was executed under the mandate granted by shareholders at the bank’s Extraordinary General Meeting held on February 6, 2025, where approval was given for the issuance of up to 20 billion ordinary shares through a private placement.
Fidelity Bank had earlier raised ₦175.85 billion in 2024 from a combination of a public offer and a rights issue, which lifted its eligible capital to ₦305.5 billion at the time.
With the latest transaction, the bank has effectively closed the remaining gap required to meet the new ₦500 billion minimum capital threshold for commercial banks with international authorisation.
Management said the successful completion of the exercise places the bank in a strong position to meet regulatory requirements ahead of schedule, while also expanding balance sheet capacity to support business growth, strengthen risk buffers and advance long term strategic plans.
The recapitalisation drive forms part of an industry wide effort to reinforce the capital base of Nigerian banks in line with updated regulatory standards designed to improve financial stability and resilience.
Fidelity Bank added that it will continue to engage relevant regulators to finalise outstanding approvals and provide market updates as required.
