Fidelity Bank exceeds N500bn capital threshold as re-capitalisation deadline closes

As the Central Bank of Nigeria re-capitalisation deadline closed on 31 March 2026, Fidelity Bank has emerged among lenders that met the new capital requirements, crossing the N500 billion benchmark set for banks with international licences.The lender said its capital base rose above the threshold following the successful completion of a N259 billion private placement of ordinary shares, a move that underscores growing investor confidence in the bank’s strategy and governance framework.

In a statement filed with the Nigerian Exchange Limited, the Company Secretary, Ezinwa Unuigboje, disclosed that the private placement — conducted with regulatory approvals from the CBN and the Securities and Exchange Commission — was opened and concluded on 31 December 2025.

According to the bank, the exercise lifted its eligible capital from N305.5 billion to N564.5 billion, subject to final regulatory verification, placing it comfortably above the N500 billion minimum requirement.Strong investor backingThe one-day capital raise drew significant participation from institutional investors, including Afreximbank and its subsidiaries, signalling strong market confidence despite tightening regulatory conditions and broader macroeconomic pressures.

Market analysts said the speed and scale of the transaction reflect confidence in Fidelity Bank’s long-term fundamentals, as well as its capacity to navigate evolving industry demands.

Building on earlier capital raiseThe latest development builds on earlier efforts by the bank to strengthen its capital base. In June 2024, Fidelity Bank raised N175.85 billion through a combination of a public offer and rights issue, bringing its capital to N305.5 billion at the time.

That exercise left a shortfall of N194.5 billion relative to the new regulatory benchmark — a gap now fully bridged by the December 2025 private placement.The capital raise was executed under a mandate granted by shareholders at an Extraordinary General Meeting held on 6 February 2025, which authorised the board to issue up to 20 billion ordinary shares as part of a broader recapitalisation strategy.Positioning for growthThe bank said its strengthened capital position would enhance balance sheet resilience, support expansion and enable it to play a more active role in financing key sectors of the Nigerian economy.It added that it remains focused on value creation, prudent risk management and sustained profitability as the industry transitions into the post-recapitalisation phase.Fidelity Bank’s shares closed at N19.50 on 10 April 2026 on the Nigerian Exchange, reflecting continued investor interest following the capital raise.With the recapitalisation exercise concluded, attention is expected to shift to how banks deploy fresh capital to drive growth and support economic activity in Africa’s largest economy.