Managing Director and CEO, Dr. Nneka Onyeali-Ikpe, has acquired an additional 18 million units of the bank’s shares, valued at approximately ₦366.3 million. This transaction, executed on May 19, 2025, at a unit price of ₦20.35, was disclosed in a notice of directors’ dealings published on the Nigerian Exchange.
This latest purchase is part of a consistent pattern of share acquisitions by Dr. Onyeali-Ikpe. Between November 21 and 27, 2024, she bought a total of 25 million shares in two separate tranches—15 million shares worth ₦239.4 million and another 10 million valued at ₦157.9 million. Her continued investment reinforces her personal commitment to the bank’s growth and signals confidence in its future performance.
Fidelity Bank’s solid financial standing appears to justify the CEO’s optimism. For the first quarter of 2025, the bank reported a 167.8% year-on-year increase in Profit Before Tax, reaching ₦105.8 billion. Gross earnings rose by 64.2% to ₦315.4 billion, driven by growth in both interest and non-interest income.
The bank’s balance sheet remains robust, with total deposits increasing by 11.1% year-to-date to ₦6.6 trillion. Net loans and advances also grew by 5.0% to ₦4.6 trillion. These figures illustrate the bank’s strong liquidity and ability to support large-scale lending and operational commitments.
The timing of the share purchase has drawn public attention, coinciding with reports of a Supreme Court ruling that upheld a ₦225 billion judgment against Fidelity Bank. The judgment stems from a longstanding credit dispute tied to the now-defunct FSB International Bank, which Fidelity Bank absorbed in 2005.
Critics have expressed concerns over the optics of such a significant personal investment during a period of legal scrutiny. However, the bank has maintained that it is adhering to legal processes and remains committed to resolving all legacy matters appropriately.
Despite the legal proceedings and speculative reports in the media, Fidelity Bank’s stock has remained relatively stable. Following a high of ₦21.00 on May 13, 2025, the stock saw a modest correction to ₦20.00, reflecting only a 3.8% decrease. This suggests that investors are weighing the bank’s solid fundamentals more heavily than the noise surrounding legal challenges.
Dr. Nneka Onyeali-Ikpe’s continued investment in Fidelity Bank during challenging times demonstrates strategic leadership and deep-seated confidence in the bank’s resilience. Her actions serve as a signal to investors and the public alike that the bank remains fundamentally strong and forward-focused.
