Fidelity Bank Plc (“the Bank”) refers to the recent circular issued by the Central Bank of Nigeria “CBN” (Reference No. BSD/DIR/CON/LAB/018/008) concerning regulatory forbearance on Single Obligor Limit (SOL) and other credit facilities and wishes to provide the clarifications below to its esteemed shareholders, NGX Regulation Limited (NGX RegCo), and other stakeholders: (a) As a responsible financial organization, Fidelity Bank Plc remains committed to ensuring compliance with regulatory policies and directives, including the CBN circular on forbearance which is aimed at strengthening capital buffers and enhancing financial prudence within the banking industry.
(b) In terms of Capital, the Bank successfully raised ₦273 billion through a recent Public Offer and Rights Issue which were oversubscribed by 237.92% and 137.73% respectively and intends to raise the additional sum of ₦200 billion through a Private Placement in 2025FY, to achieve the new minimum regulatory capital requirement of ₦500 billion for banks with international authorisation.
The CBN and Shareholders’ approval have been obtained for the Private
Placement, while other regulatory approvals are being processed to ensure completion in
2025.
(c) The Bank’s exposure under the SOL forbearance relates to two obligors. We are confident that this exposure will be brought within the applicable regulatory limit in H1 2025.
(d) With respect to the forbearance granted on other credit facilities, the Bank confirms that this applies to four customers. We have proactively made substantial provisions on these facilities and have taken targeted and comprehensive steps to ensure full provisioning or return of the accounts to performing status by June 30, 2025.
Thus, the Bank expects to exit all CBN forbearance arrangements (SOL/Credit) and remains in a strong position to meet the prevailing requirements to enable it to pay dividends for the current financial year and subsequently.
We seize this opportunity to express sincere appreciation to our investors, customers and stakeholders for their continued confidence.
For further enquiries, please contact:
• Email: info.investor@fidelitybank.ng
• +234 1 2700 530; 2700 531; 2700 532
Thank you.
Ezinwa Unuigboje
Company Secretary
In a swift response to the recent flood that tragically displaced many families in Mokwa, Niger State, Fidelity Bank Plc has donated food packs to over 1,500 affected residents through its Food Bank Initiative.
The Fidelity Food Bank Initiative is a humanitarian outreach designed to help vulnerable communities across Nigeria. Through partnerships and collaboration with its branches and stakeholders, the bank delivers food packs to those in need, helping to ease hunger and provide hope during difficult times.
Commenting on the donation, the Divisional Head, Brand and Communications at Fidelity Bank, Dr. Meksley Nwagboh, said: “At Fidelity Bank, we believe corporate citizenship means standing by communities in their greatest time of need. We are honored to support the people of Mokwa through the Fidelity Food Bank Initiative. This is more than just a relief effort — it’s a affirmation of our promise to always be there for the people and communities we serve, especially in challenging moments.”
He added: “This donation reflects our collective responsibility to respond with compassion and urgency. The people of Mokwa are not alone — we share in their struggles, and we will continue to support them as they rebuild their lives.”
The distribution event was well attended by government officials from Niger State, led by the First Lady, Hajiya Fatima Umaru Bago. Also present were the Secretary to the State Government, Alhaji Abubakar Usman Gawu; Chief of Staff to the Governor, Alhaji Usman Abdullahi Gbatamangi; and the Deputy Chief of Staff, Alhaji Yusuf Sadiq.
Other members of the delegation included the Commissioner for Budget & Planning, Alhaji Mustapha Ndajiwo; Commissioner for Education, Hajiya Hannatu Jibril; and the Commissioner for Humanitarian Affairs, represented by the Permanent Secretary, Hajiya Barrister Mairo Mamman Mann.
The Commissioner of Information, Hajiya Binta Mamman, and Alhaji Ayuba Usman Katako, representing the Association of Local Governments of Nigeria (ALGON) in Niger State, alongside various Local Government Chairmen, were also present to show their solidarity with Mokwa and its people.
The Fidelity Food Bank donation in Mokwa follows similar initiatives in areas affected by disasters. The bank previously donated food and sanitary items to victims of a fire outbreak in Taraba State and provided cash and food to those affected by the Zaria Central Mosque collapse in 2023.
It will be recalled that Fidelity bank is ranked among the best banks in Nigeria. Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Fidelity Bank has dismissed reports alleging that its Managing Director (MD) paid N5 billion in bribes to avoid detention by the police.
In a statement released on Monday, the bank explained that the MD was asked to sign a N5 billion bail bond as part of a police investigation into a matter involving the account of a customer, Woobs Resources Limited.
The bank described the reports — particularly a story by Sahara Reporters — as false and mischievous, meant to mislead the public into believing a bribe was paid.
“The police invited the MD during their investigation into a complaint made by James Onyemenam against Mr. Ogo Whoba over the management of Woobs Resources’ account. After taking her statement, the police asked the MD to sign a N5 billion bail bond on her own recognizance.
“It is this bond — not a bribe — that was referenced in a phone conversation with Mr. Ogo Whoba, which was secretly and unlawfully recorded. At no time did the MD pay N5 billion to the Police to avoid detention; signing the bond was simply a standard part of her release conditions.”
The bank also explained that the same false claim had previously been raised in a petition to the Inspector General of Police by Victor Ukutt on behalf of Mr. Whoba. The Inspector General investigated the matter thoroughly and dismissed it as baseless.
The Transformation Business Conference, held at the Festival Hotel Conference Center (former Golden Tulip Hotel), Lagos, on June 12, 2025, concluded with a resounding call for participants to uphold commitment and integrity in their businesses and ministries.
Themed “Marketplace Influence, Innovation, and Integrity in Leveraging Leadership, Business, and the Workplace,” the conference aimed to nurture and inspire young entrepreneurs through biblical ethics and principles.
Dr. Kingsley Emeka Oboti, President of the Transformation Christian Center and Chairman/Group CEO of Mekatrice Group, emphasized the critical need for a paradigm shift in business practices. He warned against the pursuit of wealth devoid of integrity and biblical foundation, noting that many suffer due to unethical business approaches.
Speaking to journalists, Dr. Oboti reiterated that the main objective of the conference was to equip young people with values rooted in scripture to help them excel in business and ministry. He expressed concern over the rampant quest for money in Christian circles, often pursued without regard for godly principles.
Drawing from his vast experience in various business sectors, Dr. Oboti shared insights on solving people’s problems as a strategy for business success. “Everyone has a need,” he said. “Our ability to identify and provide solutions to those needs is what creates business opportunities.”
He further stressed the importance of aligning with the right people and associations, stating that “money can be made without money” by simply applying biblical principles.
Also speaking at the event, Prof. Stewart Mba, Managing Director of Mekatrice Group, delivered a lecture on “Building a Productive Team.” He emphasized that a weak team can hinder even the strongest vision, while a strong team can elevate a weak one. “As blood gives life to humans, so does a team give life to an organization,” he said.
Mba encouraged entrepreneurs to adopt key business principles—selection, bonding, and execution—to build successful enterprises.
Amb. Mark Idiahi, President/CEO of the Africa Future Leadership Conference and Awards, presented on “Strategies and Principles of Marketplace Dominance.” He described entrepreneurship as a divine agenda and an avenue through which God transforms society. “Business is God’s tool for impacting lives and destinies,” he said.
Another keynote speaker, Dr. Kingsley Chukwudi Kalu, CEO of Exploits Energy, spoke on “Moving from Sales to Solutions.” He emphasized the need for businesses to transition into solution-oriented models, especially in a challenging economic climate.
The event featured panel discussions, interactive sessions, and a raffle draw, where winners went home with business grants.
Kevin Ugwuoke, Executive Director and Chief Risk Officer of Fidelity Bank Plc, has formally assumed office as President of the Chartered Risk Management Institute of Nigeria (CRMI).
His leadership promises a reform-focused era anchored on policy advocacy, ethical standards, and digital innovation to deepen risk governance across sectors in the country.
Speaking during the presidential handover ceremony in Lagos over the weekend, Ugwuoke — who also doubles as acting President of the Federation of African Risk Management Associations (FARMA) — described his election as “a call to action.”
He pledged to reposition CRMI as a thought leader and institutional partner in shaping the future of risk management in Nigeria’s national development.
“Our mission is more than just certification; it’s about strengthening the culture of risk governance across sectors. We will collaborate with regulators, raise awareness, and provide practical tools to help organizations embed risk discipline at all levels.”
Ugwuoke outlined a five-pronged strategy to guide his administration: strengthening professional education and certification; deepening policy and regulatory engagement; accelerating digital transformation; integrating ESG and climate risk into corporate strategies; and mentoring the next generation of risk practitioners.
He explained that CRMI will align its initiatives with key policy institutions — including the Nigerian Economic Summit Group, the National Assembly, and sub-national governments — to help embed robust risk frameworks into economic development plans.
“We must integrate risk thinking into how we plan, govern, and invest. We will advocate for more inclusive regulations to empower small and medium enterprises, improve macroeconomic stability, and foster institutional resilience.”
Ugwuoke also announced plans to revise the Institute’s curriculum, introduce specialized certifications to reflect emerging risks, and implement a new National Risk Observatory to provide real-time risk data to both the public and private sectors.
“Digital innovation will be central to how CRMI operates going forward. We are automating our backend, delivering more virtual training, and employing technology to scale our impact across the country and beyond.”
In his remarks, the outgoing President of CRMI, Ezekiel Oseni, challenged the new leadership to consolidate on the achievements made under his tenure — from securing chartered status and strengthening partnerships to gaining greater international recognition — and take the Institute to the next level.
Also speaking on the occasion, Chukwuma Nweke, deputy managing director of United Bank for Africa (UBA), delivering a goodwill message on behalf of Group Managing Director, Oliver Alawuba, described Ugwuoke as a worthy successor.
“As Professor Oseni hands over the baton to Kevin Ugwuoke — a well-respected leader in the risk management ecosystem — we are assured CRMI is poised for greater achievements under his watch.”
Nweke stressed that growing economic uncertainties — from inflation and exchange rate volatility to growing debt — underscore the need for a more strategic view of risk.
“Risk must be recognized not as a compliance obligation or a cost center but as a key enabler of resiliency and growth. Institutions that embed risk into their strategies will absorb shocks more effectively, unlock value, and inspire investor confidence.”
As part of the day’s ceremonies, 11 distinguished practitioners were conferred with the Fellow of Chartered Risk Manager (FCRMI) award, while 21 new members were formally inducted as Chartered Risk Managers (CRM).
Furthermore, a new Governing Council was inaugurated to oversee the affairs of the Institute for the 2025–2027 term, marking a decisive step forward in institutional renewal and policy direction.
Nigeria’s most forward-looking financial institution, Sterling Bank, has announced an over ₦2bn commitment for fully-funded private university scholarships for young Nigerians.
Unveiled on Democracy Day, the initiative titled Beyond Education, represents a decisive step towards building the country’s future leaders by dismantling the barriers that keep millions of Nigerians from accessing quality, future-focused learning.
This is one of the largest private sector investments ever made in a single Nigerian tertiary institution. It extends Sterling’s longstanding commitment to the HEART sectors: Health, Education, Agriculture, Renewable Energy, and Transportation.
The bank has deployed over half a
trillion naira in financing and development programs across these critical areas.
“Progress is not a spectator sport,” said Abubakar Suleiman, Chief Executive of Sterling Bank. “While others talk about Nigeria’s potential, we are actively investing in it.
These scholarships are direct investments in the architects of our future. We are funding the education of future leaders who will build the companies, systems, institutions and solutions Nigeria needs to thrive.”
The Sterling Beyond Education program will fully sponsor 600 students to study high-impact fields such as Technology, Finance, Sales, and Public Health. It is open to young Nigerians from all 36 states and the FCT, with a merit-based and inclusive admissions process.
Candidates can nominate themselves or be nominated by others, and final selection will be determined through a public voting process open exclusively to Sterling account holders.
“This is what inclusive investment looks like,” said Obinna Ukachukwu, Growth Executive leading the Retail & Consumer Banking Directorate at Sterling Bank.
“This initiative goes beyond access to education, it’s access to a future. Education remains the most valuable asset anyone can have, and we’re proud to stand behind young Nigerians as they claim it.”
The pilot program is in partnership with Miva University, founded by renowned tech entrepreneur, Sim Shagaya. Fully accredited by the National Universities Commission, Miva is redefining higher education in Africa with scalable, affordable, and flexible programs tailored to the demands of the
digital economy.
The program also reflects Sterling’s advocacy for organisations to shift from short-term philanthropy to long-term ecosystem development.
With deep investments in digitised healthcare, school financing, agricultural cooperatives, solar energy, and low-cost transport systems, Sterling is building pathways to inclusive prosperity.
“We’re moving beyond charity,” Suleiman said. “This is about building systems that last and it is much bigger than hundreds of scholarships. It’s about the future those brilliant young minds will build for our country.”
Nominations are now open at www.sterling.ng/FUTURE. As Africa’s youth population continues to grow, initiatives like Beyond Education may point to a new blueprint for private sector leadership,one where impact is measured not just in profit, but in people empowered.
Sterling Bank is a leading Nigerian commercial bank and one of Africa’s most progressive financial institutions,
widely recognised for its bold approach to customer advocacy and ethical banking.
From eliminating local transfer fees through its OneBank platform to championing inclusive access to capital, the bank has consistently led with impact.
Renowned for its HEART of Sterling strategy, which focuses major investments into the Healthcare, Education, Agriculture, Renewable Energy, and Transportation sectors of the Nigerian economy, Sterling continues to build innovative solutions that go beyond banking to enable dignity, mobility, and opportunity for millions of Nigerians. Explore Sterling Bank offerings at sterling.ng.
In furtherance of its long-standing commitment to education and youth development, leading financial institution, Fidelity Bank Plc, has donated a wide range of relief and academic materials to Government Junior Secondary School, Elekahia, Port Harcourt, Rivers State.
The donation was made possible by the unwavering dedication and generosity of a class of newly inducted staff, known as the Suncrest Inductee Class, under the Fidelity Helping Hands Programme (FHHP).
Through the FHHP, staff across Fidelity Bank’s business locations identify projects that impact their immediate community and raise funds to execute them. The bank’s management thereafter matches this contribution with an equal amount and disburses it for the selected project.
Speaking about the donation event, Divisional Head, Brand and Communications, Dr Meksley Nwagboh, noted the bank’s dedication to fostering community development and supporting children from underprivileged backgrounds.
“We deliberately chose a public school because we understand the challenges many students face. Our aim is to provide support that not only aids academic performance but also inspires hope for a brighter future,” said Dr Nwagboh.
He highlighted that the Bank’s initiative for school and students has spanned 15 years with numerous schools as beneficiaries nationwide. “At Fidelity Bank, we believe that investing in the next generation is a direct investment in the future of our country. This initiative is deeply rooted in our philosophy of grooming responsible future leaders and promoting social equity, with our members of staff being able to significantly contribute right from their early days in the bank” he affirmed.
In her remarks, the Principal, Government Junior Secondary School, Elekahia, Dr. Ekeh Florence, expressed heartfelt appreciation to Fidelity Bank for its generous gesture.
“We are sincerely grateful that Fidelity Bank remembered the students of our school. The materials they provided – which includes exercise books, biros, socks, footwear, sanitary items such as pads and shaving sticks, and even snacks – will go a long way in boosting the morale and academic readiness of our students,” Dr. Ekeh stated.
The students expressed their joy and appreciation, describing the donation as the first of its kind from any corporate organization. Many pledged to make the best use of the materials to improve their academic performance and personal development.
It will be recalled that fidelity bank is ranked among the best banks in Nigeria. Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
The Transform Business Conference, scheduled for June 12, 2025, at the Festival Hotel, Former Golden Tulip in Lagos,is set to hold a conference with the theme”Market place interest, innovations and integrity in leveraging business and workshop “which is aimed to empower entrepreneurs and leaders with strategic insights, business excellence, and spiritual depth.
This faith-driven initiative will bring together kingdom-minded business owners and professionals to explore the intersection of Christian values and sustainable business success.
According to the organizers, the objectives is to inspire purpose-driven business growth, build a thriving community of faith-based entrepreneurs, and foster meaningful partnerships with like-minded experts and sponsors.
Investigator news reports that the conference would centered on purpose-driven business growth,connect with like-minded entrepreneurs and build meaningful partnerships and learn from experts on how to drive church growth with business principles as participants would have strategic insights from industry experts,networking opportunities with kingdom-minded professionals,faith-based discussions on business excellence and practical tips on driving church growth with business principle
Date; June 12, 2025.
Venue; Festival Hotel, Former Golden Tulip, Amuwo Odofin, Lagos
Time; 10:00AM.
Investigator news gathered that for individual participation,use the link below to register
……As LAPO Hosts Media Interaction with Industry Expert.
Tunde Omoniyi.
The LAPO Microfinance Bank has sponsored a media Roundtable together with Industry experts and top minds in finance,addressing issues relating to cybersecurity and communications inorder to safeguarding sensitive financial information in an increasingly digital world.
The event,held at the Lagos Chamber of Commerce and Industry (LCCI),Ikeja, Lagos,reaffirmed LAPO Microfinance Bank’s commitment to fostering inter-industry dialogue and promoting best practices in the digital financial ecosystem.
The lead keynote speaker, Oluremi Akande, Director of Marketing and Communications at LAPO Microfinance Bank underscored the growing importance of cybersecurity within the financial sector.
While speaking at the media parley segment of the roundtable, Akande highlighted the bank’s ongoing commitment to protecting client data and strengthening digital resilience.
Oluremi Akande, Director of Marketing and Communications, LAPO Microfinance Bank
While addressing journalists during an after-event interview, he also highlighted scenarios of empowerment and training of ex-military personnel and making Cybersecurity an attractive career path for youths.
He harped also on the importance of character to credit worthiness and debunked stories of LAPO officials applying strong-arm tactics during debt recovery operations.
“In today’s fast-evolving digital landscape, cybersecurity is no longer optional—it is essential,” Akande stated.
“At LAPO Microfinance Bank, we are not only investing in the right technology but also in strategic media engagement.
“This will ensure that the core values of corporate social responsibility (CSR) are upheld, especially as they relate to public trust and data protection.”
Akande further assured journalists and media stakeholders of increased collaboration and support from LAPO Microfinance Bank, with a focus on transparent communication, public education, and ethical practices in digital finance.
The roundtable featured high-level discussions on topics ranging from data privacy regulations to the role of artificial intelligence in financial fraud detection.
Investigator news gathered that LAPO Microfinance Bank has significantly contributed to Nigeria’s economic development through its unwavering commitment to financial inclusion, support for micro, small, and medium enterprises (MSMEs), and empowerment of underserved communities.
It will be recalled that LAPO Microfinance Bank, officially known as Lift Above Poverty Organization Microfinance Bank, is a leading Nigerian financial institution dedicated to promoting financial inclusion and empowering low-income individuals and micro-entrepreneurs. Established in 1987 by Dr. Godwin Ehigiamusoe in response to the economic challenges posed by the Structural Adjustment Programme, LAPO began as a non-governmental organization (NGO) focused on poverty alleviation.
In 2010, LAPO obtained approval from the Central Bank of Nigeria (CBN) to operate as a state microfinance bank, and by 2012, it had secured a national microfinance banking license, allowing it to expand its services across Nigeria.
Headquartered in Benin City, Edo State, with additional offices in Lagos, LAPO has grown to become one of the largest microfinance banks in Nigeria. It offers a range of financial products, including regular loans, SME loans, agricultural loans, educational loans, and various savings accounts.
LAPO’s commitment to social and economic empowerment is evident in its focus on serving rural areas and women, who constitute over 90% of its clientele. Through its extensive network of over 200 branches nationwide, LAPO continues to play a pivotal role in Nigeria’s financial inclusion landscape.
For more information, visit the official website: www.lapo-nigeria.org.
Recognitions and Awards
• Highest Impact on MSMEs in Nigeria: In 2024, LAPO Microfinance Bank received the Development Bank of Nigeria (DBN) Award for the Highest Impact on MSMEs in Nigeria, acknowledging its substantial contributions to economic empowerment across the country.
• Microfinance Bank of the Year<span;>: The bank was honored as the “Microfinance Bank of the Year” at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, marking the ninth consecutive year it received this accolade.
• Support for MSMEs<span;>: LAPO was recognized for its exceptional support to MSMEs, reflecting its ongoing commitment to promoting financial inclusion and economic development in Nigeria.
Economic Impact
• Loan Disbursements: In the first half of 2023, LAPO disbursed ₦74 billion in loans to MSMEs, contributing to over ₦1 trillion disbursed in the last decade. This financial support has been pivotal in fostering entrepreneurship and economic growth.
• Agricultural Support: In the first quarter of 2024, LAPO allocated ₦1.4 billion to support rural agriculture, enhancing the livelihoods of smallholder farmers across Nigeria.
Women Empowerment and Financial Inclusion
• Focus on Women-Led Enterprises: LAPO has been instrumental in empowering women by providing tailored financial services to female entrepreneurs, thereby promoting gender equality in economic participation.
Financial Literacy Initiatives: The bank has invested in financial literacy campaigns, educating individuals on savings, access to financial services, and informed financial decision-making, which are crucial for sustainable economic growth.
Nationwide Presence
With over 500 branches across 34 states and the Federal Capital Territory, LAPO Microfinance Bank has established a robust presence, ensuring accessibility to financial services in both urban and rural areas.
Through these initiatives and recognitions, LAPO Microfinance Bank continues to play a vital role in Nigeria’s economic landscape, driving inclusive development and empowering communities.
For its outstanding financial performance and strategic growth, Fidelity Bank Plc, a leading tier-one financial institution, has been honoured with the Most Improved Commercial Bank of the Year award at the inaugural Nairametrics Capital Market Choice Awards.
Organized by Nigeria’s premier financial media platform, Nairametrics, the awards were launched to recognize individuals, institutions, and policy reforms that have significantly shaped Nigeria’s capital markets.
The initiative seeks to spotlight excellence in areas such as regulatory leadership, corporate governance, investment performance, and financial innovation.
“This award is a testament to the tremendous work we are doing at Fidelity Bank—not only in delivering superior service to our customers, but also in driving economic growth and creating sustainable value for all stakeholders,” said an elated Dr. Nneka Onyeali-Ikpe, Managing Director and Chief Executive Officer of Fidelity Bank Plc.
“We are deeply grateful for this recognition and remain committed to helping individuals grow, businesses thrive, and economies prosper.”
The awards ceremony, held on Friday, May 23, 2025, at the Banquet Hall of the Civic Center in Lagos, drew an esteemed audience, including Dr. Jumoke Oduwole, Honourable Minister of Industry, Trade and Investment, as well as industry leaders, regulators, media executives, and capital market stakeholders.
Delivering the keynote address, Dr. Emomotimi Agama, Director-General of the Securities and Exchange Commission (SEC), underscored the need for continuous evolution in financial markets.
“Markets must become more efficient, secure, and innovative to fulfill their promise. In Nigeria, we are committed to building a resilient, inclusive, transparent, and future-ready capital market,” he stated.
Ugo Obi-Chukwu, Founder and CEO of Nairametrics, shared the vision behind the awards, saying, “The Capital Market Choice Awards is our way of reinforcing the core values that sustain a healthy capital ecosystem—trust, performance, and progress.”
Fidelity Bank’s recognition comes on the heels of a stellar 2024 financial year. The bank posted an exceptional 210% growth in Profit Before Tax (PBT), reaching ₦385.2 billion—the largest year-on-year PBT increase recorded in the Nigerian banking industry for the year.
Further demonstrating its leadership, Fidelity Bank spearheaded the Central Bank of Nigeria’s recapitalization drive with a highly successful Public Offer and Rights Issue, which were oversubscribed by 237.9% and 137.7% respectively—solidifying investor confidence in the bank’s strategic direction.
Investigator news reports that Fidelity Bank is ranked among the best banks in Nigeria,it is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
