Fidelity Bank Plc has raised ₦259 billion through a private placement of ordinary shares to strengthen its capital position as part of the ongoing bank recapitalisation programme.
The bank said the private placement, which opened and closed on December 31, 2025, was executed following approvals from the Central Bank of Nigeria and the Securities and Exchange Commission.
Proceeds from the exercise increased Fidelity Bank’s eligible capital from ₦305.5 billion to ₦564.5 billion, subject to final regulatory approvals.
The transaction was conducted under the authority granted by shareholders at the bank’s Extraordinary General Meeting held on February 6, 2025, which approved the issuance of up to 20 billion ordinary shares via private placement.
Fidelity Bank had earlier raised ₦175.85 billion in 2024 through a combination of a public offer and rights issue, lifting its eligible capital to ₦305.5 billion at the time.
The latest capital raise effectively bridges the remaining gap to meet the new ₦500 billion minimum capital requirement for commercial banks with international authorisation.
Management said the successful completion of the private placement positions the bank to meet regulatory thresholds ahead of schedule, while providing additional balance sheet capacity to support business growth, risk buffers and long-term strategic initiatives.
The recapitalisation exercise forms part of the broader industry-wide effort to strengthen Nigerian banks’ capital bases in line with updated regulatory standards aimed at enhancing financial system stability and resilience.
Fidelity Bank said it would continue to engage with regulators to finalise approvals and provide updates to the market as required.
