Managing Director and CEO of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, has acquired an additional 18 million shares in the bank, amounting to approximately ₦366 million.
The acquisition, executed at ₦20.35 per share on May 19, 2025, came on the same day an online publication released an unverified report regarding a long-standing legal case inherited by Fidelity Bank following its 2005 absorption of the defunct FSB International Bank.
Details of the transaction were made public via a regulatory disclosure on the Nigerian Exchange Group (NGX) portal. The development adds to a pattern of personal investment by Dr. Onyeali-Ikpe. In November 2024, she purchased 25 million shares in two tranches—15 million shares worth ₦239.4 million on November 21 and 22, followed by another 10 million shares valued at ₦157.9 million on November 26 and 27.
“The CEO’s actions reflect her continued confidence in the bank’s strategic direction and governance,” a market analyst noted. “Making such a move while the institution is under legal attention sends a deliberate signal to investors.”
Fidelity Bank’s recent financial results provide further context. The lender recorded a Profit Before Tax of ₦105.8 billion in the first quarter of 2025, up 167.8% from the same period in 2024. Gross earnings also rose by 64.2% year-on-year to ₦315.4 billion, driven by both interest and non-interest income.
On the balance sheet, the bank’s total deposits climbed to ₦6.6 trillion, representing an 11.1% increase year-to-date, while net loans and advances rose by 5.0% to ₦4.6 trillion. These figures suggest sustained liquidity and the capacity to manage lending and investment operations effectively.
Despite recent critical online reports, which have been refuted by the Central Bank of Nigeria, Fidelity Bank’s share price has remained relatively stable. After peaking at ₦21.00 on May 13, the price dipped slightly to ₦20.00, reflecting a 3.8% decrease. The mild fluctuation has not significantly affected investor sentiment.
Dr. Onyeali-Ikpe’s continued share purchases during a sensitive legal period have drawn attention for their timing and scale. The bank has maintained that it is following due legal process to conclude matters related to the decades-old case, while assuring stakeholders of its operational soundness.
With both market and regulatory observers monitoring the unfolding situation, Fidelity Bank’s leadership appears focused on maintaining institutional stability and investor trust through direct financial commitment and consistent performance.