Fidelity Bank Plc is back in the spotlight as its Group Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, acquired 18 million units of the bank’s shares valued at approximately ₦366.3 million, just days after the Supreme Court ruled against the bank in a ₦225 billion suit involving Sagecom Concept Limited.
The transaction, executed on May 19, 2025, was disclosed in a regulatory filing by the Company Secretary, Ezinwa Unuigboje, in line with insider trading disclosure rules of the Nigerian Exchange.
The shares were purchased at ₦20.35 per unit, and the filing classified the move as an initial insider notification.
While the purchase demonstrates internal confidence in the institution’s future, the timing has drawn scrutiny from analysts and market observers.
The acquisition comes on the heels of a legal setback that has cast a shadow over the bank’s financial outlook.
Market sources say the CEO’s decision to increase her equity stake may be aimed at restoring investor confidence amid concerns about the potential financial impact of the judgment.
However, Fidelity Bank has since disputed the ₦225 billion liability, stating in a formal communication that its internal assessment places the exposure closer to ₦14 billion.
Despite the legal uncertainty, the bank’s stock remains active on the Nigerian Exchange with the CEO’s share purchase viewed by some investors as a signal of confidence, and by others as a strategic optics move in the face of negative publicity.
Dr. Onyeali-Ikpe, who assumed leadership in January 2021, has overseen several strategic initiatives, including the bank’s holding company transition plan and expanded digital banking efforts.
With the insider transaction now public, the development adds a fresh layer to an already evolving narrative around Fidelity Bank’s governance, risk posture and capital management.
Investors and regulators will be watching closely as the bank navigates the aftermath of the court ruling and prepares its next steps.
