Fidelity Bank Plc said it has met the ₦500 billion capital requirement for an internationally licensed bank and is now awaiting approval from the Central Bank of Nigeria (CBN).
The bank made this known in a statement on Tuesday, January 6, signed by its Company Secretary, Ezinwa Unuigboje.
It hinted that following approvals from the CBN and the Securities and Exchange Commission (SEC), Fidelity Bank successfully conducted a private placement of ordinary shares, which opened and closed on December 31, 2025.
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“This exercise resulted in the Bank raising N259 billion, increasing its eligible capital from N305.5 billion to N564.5 billion, awaiting regulatory approvals.
“The Private Placement was conducted pursuant to the authorisation received from the Bank’s shareholders at the Extraordinary General Meeting of February 6, 2025, to issue up to 20 billion Ordinary Shares by way of Private Placement,” Fidelity Bank stated.
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Pinnacle Daily reports that Fidelity Bank had earlier raised ₦175.85 billion through a public offer and rights issue in 2024, boosting its eligible capital to ₦305.5 billion.
This left a gap of ₦194.5 billion to meet the new ₦500 billion regulatory capital requirement for internationally licensed commercial banks, which the bank said it has met.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
