Fidelity Bank Plc has raised between N250 billion and N270 billion through a private placement, according to The Nation newspaper.
This tier‑one lender conducted the placement on December 31, 2025.
Market sources confirmed the transaction, noting extraordinary demand allowed the offer to close on the same day.
With an existing verified share capital and share premium of approximately N306 billion, this new equity injection lifts the bank’s qualifying capital comfortably above the N500 billion minimum required by the Central Bank of Nigeria for banks with international authorisation.
Sources described a one‑day private placement as unprecedented. Nigerian capital market rules typically allow issuers up to 10 days for private placements, and six weeks for public offers or rights issues, with options for extension. Most recent offers have required extensions due to market conditions.
Subscriptions were restricted to a select group of investors whose profiles aligned with the bank’s brand, growth strategy, and corporate objectives. The pattern of investment suggests participation from top‑rated global institutional investors, similar to the bank’s previous private placements.
This successful recapitalisation was completed nearly three months ahead of the March 31, 2026, regulatory deadline. While the bank and its advisers await final clearance from the CBN and the Securities and Exchange Commission, market watchers say the fundraise has effectively de‑risked Fidelity Bank’s recapitalisation programme and positioned it for post‑recapitalisation growth.
Efforts to obtain official comment were unsuccessful. Executives declined to speak, citing regulatory restrictions.
In March 2024, the CBN revised sector‑wide minimum capital requirements to N500 billion for international commercial banks, N200 billion for national banks, and N50 billion for regional banks. The 24‑month compliance window ends on March 31, 2026.
Analysts stated the scale and speed of this transaction validate Fidelity Bank’s standing among tier‑one lenders. Recently, Fitch Ratings affirmed the bank’s Long‑Term Issuer Default Rating at ‘B’ and upgraded its National Long‑Term Rating to ‘A+(nga)’, citing stronger capital buffers and improved profitability.
Fitch also recognised the bank’s expanding franchise, sound fundamentals, and healthy foreign‑currency liquidity, noting it was Nigeria’s sixth‑largest lender by assets at the end of 2024.
Market experts added that beyond meeting capital requirements, private placements provide strategic advantages. These include access to long‑term institutional capital, deeper governance, and specialised expertise, all reinforcing competitiveness in a globalised financial landscape.
