Fidelity Bank Plc’s Managing Director and CEO, Dr. Nneka Onyeali-Ikpe, has acquired an additional 18 million shares in the bank, signaling strong confidence in the institution’s resilience and long-term prospects. The shares, valued at approximately ₦366 million, were purchased at ₦20.35 per share on May 19, 2025.
The acquisition coincided with the circulation of an unverified online report concerning a Supreme Court ruling in a long-standing legal matter inherited from FSB International Bank, which Fidelity Bank acquired in 2005. Dr. Onyeali-Ikpe’s move is seen as a strategic response to reassure stakeholders of the bank’s stability.
This is not the first time the CEO has increased her stake in the bank. In November 2024, she purchased 15 million shares worth ₦239.4 million, followed by another 10 million shares valued at ₦157.9 million later that month. These repeated investments reflect a pattern of personal commitment and belief in the bank’s future.
The CEO’s continued investments during a period of heightened scrutiny underscore her trust in Fidelity Bank’s leadership, governance, and strategic direction.
Strong Financial Results Support Confidence
Fidelity Bank’s robust performance in Q1 2025 further supports this optimism. The bank recorded a profit before tax of ₦105.8 billion—an increase of 167.8% compared to the same period in 2024. Gross earnings also surged by 64.2% year-on-year to ₦315.4 billion, driven by growth in both interest and non-interest income.
The bank’s balance sheet remains solid, with total deposits rising 11.1% to ₦6.6 trillion and net loans and advances increasing by 5.0% to ₦4.6 trillion. These indicators highlight the bank’s liquidity strength and ability to support large-scale investments.
Despite recent negative reports—dismissed by the Central Bank of Nigeria as baseless—Fidelity Bank’s stock has remained relatively stable. After peaking at ₦21.00 on May 13, the share price saw only a slight dip to ₦20.00, reflecting continued investor confidence.
Dr. Onyeali-Ikpe’s latest share purchase reaffirms her commitment to Fidelity Bank’s success and underscores the strength of its leadership amid external distractions. As the bank works to resolve its inherited legal matters, stakeholders can remain confident in its strong financial foundation and forward-looking governance.
