The N500 billion minimum capital requirement of the Central Bank of Nigeria (CBN) for financial institutions with international banking licence has been met by Fidelity Bank Plc ahead of the March 2026 deadline.
The local lender met and surpassed the new capital base after raising about N259 billion from private placement, a notice on the Nigerian Exchange (NGX) Limited revealed.
Before the latest injection of funds, Fidelity Bank raised N175.85 billion through a public offer and rights issue in 2024, bringing its eligible capital to N305.5 billion and leaving a margin of N194.5 billion to meet the new regulatory capital requirement of N500 billion for commercial banks with international authorisation.
Giving an update on its recapitalisation exercise, Fidelity Bank said it got the fresh N259 billion from the private placement after approvals from the central bank and the Securities and Exchange Commission (SEC).
It was disclosed that “it successfully opened and closed a private placement of ordinary shares on December 31, 2025.”
“The private placement was conducted pursuant to the authorisation received from the bank’s shareholders at the Extraordinary General Meeting (EGM) of February 6, 2025, to issue up to 20 billion ordinary shares by way of private placement,” a part of the disclosure said.
A few days ago, First Bank of Nigeria also met the N500 billion capital base after injections of funds from one of its main shareholders, Mr Femi Otedola, who sold his stake in Geregu Power Plc for the purpose.