Manny Ita
Fidelity Bank has officially crossed the threshold for international banking authorization following the successful completion of a ₦259 billion private placement, a move that elevates the institution into the “Tier-1” conversation. Executed in a record single day on December 31, 2025, the transaction involved the sale of shares to a select group of pre-qualified institutional investors. This rapid execution, which bypassed the typical ten-day window allowed by Nigerian Exchange (NGX) regulations, was made possible as the bank had secured firm commitments from investors prior to the official opening.
With the addition of these funds, Fidelity’s total eligible capital base has risen from ₦305.5 billion to ₦564.5 billion. This surge effectively closes the bank’s previous capital gap of ₦194.5 billion and surpasses the Central Bank of Nigeria’s (CBN) mandatory ₦500 billion minimum for banks with international licenses by a margin of ₦64.5 billion. By exceeding the requirement well ahead of the March 31, 2026 deadline, the bank has secured its right to maintain international operations, including foreign exchange handling and cross-border trade, without the need for a license downgrade or a defensive merger.
Market analysts note that the speed and volume of the placement signal significant investor confidence in the leadership of CEO Nneka Onyeali-Ikpe, particularly given the broader economic headwinds. The market response has been immediate; on January 7, Fidelity’s stock was ranked as the third most traded on the NGX, with quarterly volumes reaching 2.78 billion shares. Following this “strategic shift,” the bank is expected to pivot its focus toward aggressive market expansion and “digital-first” banking technology to compete directly with industry leaders like Access and Zenith.
Shareholders have been advised that while the capital requirement has been met, the new shares from the placement are currently “awaiting final regulatory approval” from the Securities and Exchange Commission (SEC) and the CBN for formal listing on the exchange
