LAGOS, Nigeria — Fidelity Bank Plc Managing Director and Chief Executive Officer, Dr. Nneka Onyeali-Ikpe, don show strong confidence for the financial institution as e buy 18 million shares for N20.35 each on May 19, 2025. Dis disclosure come after media reports about ongoing Supreme Court judgment wey dey involve the bank and G. Cappa Plc, but Dr. Onyeali-Ikpe believe say dis investment fit boost investor confidence in di bank.
The transaction, wey be worth about N366.3 million, na part of her commitment to di bank’s growth, as e come just a day after di court announcement. Di Nigerian Exchange (NGX) publish di transaction on May 20, signed by Ezinwa Unuigboje, di Company Secretary. Dr. Onyeali-Ikpe’s action reflect her unshakeable belief in di bank’s stability despite external pressures.
Dis na not di first time wey di CEO dey invest in di bank’s shares. Between November 2024 and now, she don acquire shares worth over N397 million, showing her personal commitment to di long-term success of di institution. Dis continued investment during a time of legal scrutiny dey highlight her strategic leadership and di resilience of di bank.
Fidelity Bank dey stand strong despite di allegations; in fact, e don report significant financial growth for di first quarter of 2025, with profit before tax rising by 167.8% to N107.77 billion. Di bank also see an increase in gross earnings by 64.2%, totaling N315.4 billion. Dis impressive performance dey show say di bank fit attract and retain capital effectively, signaling market confidence.
For recent development, di bank talk say e dey secure a court order to interpret di judgment against dem. Di ongoing case na about a legacy debt from di defunct FSB International Bank involving a $3 million loan secured by property in Ikoyi. Di case reveal plenty complexities as Fidelity Bank dey calculate their actual liability, estimated around N14 billion.
“We don follow legal channels to resolve all dis ambiguities,” Fidelity Bank spokesperson explain. Di bank urges stakeholders, customers, and investors not to panic as e dey remain in strong financial position.
As di industry dey watch closely, Fidelity Bank dey make moves to assure di public of its stability and growth potential even as dem dey navigate di ongoing legal challenges. Di management continues to emphasize di importance of maintaining customer trust and transparency, ensuring stakeholders say dem dey actively working towards resolution.
With dis high-profile acquisition and consistent financial gains, Fidelity Bank appears well-positioned to weather di ongoing storm, providing a stabilizing force for its customers and investors.
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