Fidelity Bank Plc has vested a total of 26,633,743 ordinary shares to 67 staff members following the full repayment of rights accrued under the institution’s Staff Share Loan Scheme.

The move reflects the bank’s sustained commitment to employee ownership, internal reward systems and equity participation.

According to an official notification dated May 26, 2025, the vested shares were transferred from the Fidelity Staff Shares Account to individual employees who had completed payment obligations under the 2024 Rights Issue scheme. All shares were vested on May 23, 2025.

The highest single beneficiary was Mr. Abolore Solebo, Executive Director with 16 million units. Other notable recipients included Kevin Ugwuoke, Executive Director with 4.41 million units and Bright Nwosu with 533,320 units.

Several mid-level and senior staff also received allocations ranging between 10,000 and 538,000 units.

The vesting follows Fidelity’s policy of incentivising long-term staff commitment through equity-linked reward mechanisms. By enabling qualified staff to purchase shares through internally facilitated loan structures, the bank promotes ownership mentality while aligning employee interests with shareholder value.

Market analysts view this development as a positive indicator of Fidelity’s internal capital market culture and workforce retention strategy.

The share allotment also comes at a time when Fidelity Bank is expanding its retail banking footprint and executing growth-focused digital transformation plans.

The bank disclosed that all shares were vested in full compliance with regulatory requirements and that beneficiaries had met the conditions attached to the original rights issue.

Fidelity Bank Plc, listed on the Nigerian Exchange (NGX) under ticker symbol FIDELITYBK, continues to report strong shareholder engagement and improved performance metrics.

In its most recent earnings report, the bank recorded double-digit growth in gross earnings and profit before tax.

The staff share vesting reinforces Fidelity Bank’s position among financial institutions leveraging equity as a long-term incentive tool to drive performance, institutional loyalty and operational excellence.

Fidelity Bank Staff Vested Shares Table