Fidelity Bank Plc has witnessed renewed insider confidence as key directors and senior staff invested significantly in the bank’s shares throughout May 2025.
A review of regulatory filings on the Nigerian Exchange (NGX) reveals that no fewer than eight directors and insiders executed multiple transactions, injecting millions of naira into the bank’s equity.
Among the most notable purchases, Dr. Nneka Onyeali-Ikpe, Managing Director/CEO, acquired 2,000,000 shares at ₦18.60 per share on May 22, 2025, adding to her earlier high-profile acquisition of 18,000,000 shares at ₦20.35 per share on May 19, 2025.
The transactions, totaling ₦366 million in market value, underscore a deepened personal commitment to the bank’s long-term strategy despite ongoing legal and financial scrutiny over a ₦225 billion court judgment.
Other executive board members followed suit:
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Dr. Ken Opara, Executive Director, purchased 3,031,500 shares at ₦18.70 on May 21.
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Mr. Kevin Ugwuoke, Executive Director, acquired a total of 1,000,000 shares across three tranches at ₦18.45, ₦18.50, and ₦18.55 on May 23.
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Mr. Adebowale Banzi, Team Lead, Media and Internal Communication, purchased 26,610 shares at ₦18.45.
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Ms. Chinwuba Obiageli Sandra, of the Company Secretariat, bought 10,500 shares at ₦18.20.
In contrast, a few insiders opted to divest. Ms. Tonna Ezema, Head of Sustainable Banking, sold 1,000,000 shares at ₦18.20, while Mr. Ikwuta Godwin Elaigwu offloaded 100,000 shares at ₦18.00.
The insider activity signals strong internal belief in Fidelity Bank’s value proposition, particularly at a time of regulatory challenges and market repositioning. These transactions come on the heels of a broader staff share vesting exercise in which the bank released over 26.6 million shares to 67 staff members who had completed payment under its Staff Share Loan Scheme.
Market analysts interpret the influx of insider capital as a vote of confidence in the bank’s post-subsidy operational strategy and expanding digital footprint.
The bank’s ongoing commitment to increasing shareholder value, backed by internal reinvestment, is expected to further strengthen investor sentiment in the months ahead.
Fidelity Bank shares closed last week trading at ₦18.95 on the NGX, reflecting steady interest from institutional and retail investors despite broader market volatility.
