The Managing Director and CEO of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe has acquired an additional 18 million shares of the bank, valued at approximately N366 million.
The bank, in a statement on Wednesday described the investment as a decisive move that underscores unwavering confidence in its operations and resilience of the financial institution.
According to a regulatory filing posted on the Nigerian Exchange Group Disclosures portal, this strategic investment was executed at N20.35 per share on May 19, 2025.
Fidelity Bank stated that the investment took place the same day an online platform published an unsubstantiated report on a Supreme Court ruling in a decades-long case that the bank inherited from the defunct FSB International Bank that it absorbed in 2005.
The bank said Onyeali-Ikpe’s latest acquisition is not an isolated gesture as between November 21 and 22, 2024, she purchased 15 million shares worth N239.4 million, and subsequently added another 10 million shares valued at N157.9 million on November 26 and 27, 2024.
It added that these cumulative investments reflect a consistent pattern of personal commitment to the bank’s long-term success.
“The CEO’s substantial personal investments serve as a powerful testament to her confidence in Fidelity Bank’s strategic direction and financial health.
“By increasing her stake during a period of legal scrutiny, Dr. Onyeali-Ikpe sends a clear message of stability and trust in the institution’s governance and operational integrity.
“Fidelity Bank’s financial results further validate this confidence. In the first quarter of 2025, the bank reported a Profit Before Tax of N105.8 billion, marking a 167.8% increase compared to the same period in 2024. Gross earnings rose by 64.2% year-on-year to ₦315.4 billion, driven by significant growth in interest income and non-interest revenue.
“The tier-one lender’s balance sheet remains solid, with total deposits increasing by 11.1% year-to-date to N6.6 trillion, and net loans and advances growing by 5.0% to N4.6 trillion. These figures highlight Fidelity Bank’s strong liquidity position and its capacity to support large-scale projects and absorb financial shocks,” the bank said.
It further noted that despite the rash of malicious publications on the bank that has been debunked by the Central Bank of Nigeria, CBN, Fidelity Bank’s share price has demonstrated resilience.
“After reaching ₦21.00 on May 13, 2025, the stock experienced a modest decline, closing at ₦20.00, a 3.8% decrease. This stability suggests that investors remain confident in the bank’s fundamentals and leadership.
“Dr. Nneka Onyeali-Ikpe’s continued investment in Fidelity Bank during a period of legal scrutiny exemplifies strategic leadership and personal commitment.
“Her actions not only reinforce investor confidence but also underscore the bank’s robust financial standing and resilience. As the institution looks to closing out the legal process as mandated by the court, stakeholders can take solace in the demonstrated strength and stability at the helm of Fidelity Bank,” the statement read.
