Fidelity Bank recapitalisation success sees capital exceed N500bn after strong investor backing and a N259bn private placement

Fidelity Bank Plc and the Central Bank of Nigeria (CBN) recapitalisation programme authorities in Lagos, Nigeria, on Monday, April 13, 2026, confirmed that Fidelity Bank has recorded a significant financial milestone following the conclusion of the CBN recapitalisation exercise which ended on March 31, 2026, with the lender surpassing the required capital threshold ahead of regulatory verification.

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The development marks a major achievement in the Fidelity Bank recapitalisation success story, as the bank’s eligible capital base now exceeds N500 billion, positioning it firmly above the minimum requirement for commercial banks with international authorisation.

The bank’s strong capital position was largely driven by a N259 billion private placement of ordinary shares, which was opened and closed on December 31, 2025.

The rapid completion of the exercise within a single day underscored robust investor appetite and confidence in the institution’s long term growth strategy.

Key institutional investors, including African Export Import Bank and its subsidiaries, participated in the capital raise, reinforcing market confidence in Fidelity Bank’s governance structure, strategic direction and operational resilience.

The transaction was conducted with approvals from the Central Bank of Nigeria and the Securities and Exchange Commission.

According to official disclosures to the Nigerian Exchange Limited, the proceeds from the private placement lifted the bank’s capital base from N305.5 billion to N564.5 billion, subject to final regulatory clearance.

This development completes the bank’s recapitalisation journey and closes an earlier capital gap identified under the new CBN framework.

Fidelity Bank recapitalisation success builds on earlier fundraising efforts, including a combined public offer and rights issue completed in 2024, which raised N175.85 billion and strengthened the bank’s position ahead of the latest regulatory requirements.

Following shareholder approval at an Extraordinary General Meeting held on February 6, 2025, the bank was authorised to issue up to 20 billion ordinary shares through private placement, a strategic move designed to reinforce its capital base and support expansion objectives.

Market analysts have described the latest capital raise as a strong signal of investor confidence, noting that it highlights the bank’s governance strength and ability to attract strategic funding even amid tightening regulatory conditions and macroeconomic pressures.

With its strengthened capital position, Fidelity Bank is expected to expand lending capacity, support key sectors of the Nigerian economy and enhance balance sheet resilience as it moves into the post recapitalisation phase.

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The bank also reaffirmed its commitment to sustainable profitability, prudent risk management and long term value creation for shareholders as it consolidates its position in the Nigerian banking industry.