By JKNewsMedia
MANAGING DIRECTOR and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, has acquired 18 million additional shares in the bank, a transaction worth approximately ₦366 million, executed at ₦20.35 per share on 19 May 2025.
The strategic move coincided with the publication of an unverified online report regarding a Supreme Court ruling on a legacy case inherited from the defunct FSB International Bank.
This latest acquisition follows earlier investments by Dr. Onyeali-Ikpe, who in November 2024 bought a total of 25 million shares valued at over ₦397 million.
The purchases were made in two tranches: 15 million shares between 21 and 22 November, and 10 million shares between 26 and 27 November. The consistent stake-building underscores her long-term commitment to the bank’s performance and integrity.
Her personal investments reflect a firm stance of leadership underpinned by financial alignment with shareholder interests. By increasing her stake during a period of heightened legal attention, she sends a definitive signal of confidence in the bank’s governance and stability.
The regulatory disclosure was filed via the Nigerian Exchange Group (NGX), reinforcing transparency in the process.
Fidelity Bank’s first-quarter financials for 2025 support this show of faith.
The institution reported a Profit Before Tax of ₦105.8 billion, a 167.8% surge compared to the same quarter in 2024.
Gross earnings reached ₦315.4 billion, marking a 64.2% year-on-year increase, attributed to growth in both interest and non-interest income.
Key balance sheet metrics also reflected strength. Total deposits rose 11.1% year-to-date to ₦6.6 trillion, while net loans and advances expanded by 5.0% to ₦4.6 trillion.
The bank’s performance demonstrates solid liquidity and capacity to support extensive financial operations, even amid adverse headlines.
Despite recent defamatory reports that were publicly refuted by the Central Bank of Nigeria, the bank’s share price has shown resilience.
After peaking at ₦21.00 on 13 May, the stock closed at ₦20.00 following a marginal 3.8% decline, underscoring investor confidence in Fidelity Bank’s fundamentals and leadership.
As the court-mandated resolution of the inherited legal matter nears, Dr. Onyeali-Ikpe’s increased equity position highlights a strategic reinforcement of the institution’s credibility.
Her actions serve not only as a personal endorsement but also as a broader signal of stability for stakeholders monitoring the bank’s trajectory.
