In a bold show of confidence and commitment, the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, has acquired an additional 18 million shares in the bank, valued at approximately ₦366 million. The transaction, disclosed via the Nigerian Exchange Group (NGX) portal, was executed at ₦20.35 per share on May 19, 2025.
Notably, this strategic acquisition coincided with the publication of an unverified online report about a long-standing Supreme Court case inherited from the now-defunct FSB International Bank, which Fidelity absorbed in 2005. By purchasing a significant volume of shares on the same day, Dr. Onyeali-Ikpe sent a clear message of trust in the institution’s legal and operational standing.
A Track Record of Strategic Personal Investment
This is not Dr. Onyeali-Ikpe’s first foray into personal investment in Fidelity Bank. In November 2024, she purchased 15 million shares valued at ₦239.4 million, followed by another 10 million shares worth ₦157.9 million just days later. These cumulative investments underscore a consistent and strategic commitment to the bank’s long-term growth and stability.
Reinforcing Investor Confidence Amidst Legal Noise
Dr. Onyeali-Ikpe’s investments reflect decisive leadership during challenging times, reinforcing investor confidence amid a period of external legal distractions. By increasing her stake, the CEO demonstrates an unshakeable belief in the bank’s governance structure, financial strength, and strategic trajectory.
Outstanding Financial Performance
Fidelity Bank’s recent financial performance supports this confidence. The bank posted a Profit Before Tax of ₦105.8 billion in Q1 2025, a 167.8% increase from the same period in 2024. Gross earnings surged by 64.2% year-on-year to ₦315.4 billion, driven by strong growth in both interest and non-interest income.
The bank's total deposits rose by 11.1% to ₦6.6 trillion, while net loans and advances increased by 5.0% to ₦4.6 trillion, indicating robust liquidity and lending capability.
Despite malicious online reports—dismissed by the Central Bank of Nigeria (CBN) as baseless—Fidelity Bank’s share price has remained relatively stable. After peaking at ₦21.00 on May 13, 2025, the stock saw a modest dip to ₦20.00, reflecting a contained decline of 3.8%. This resilience underscores investor trust in the bank’s fundamentals and leadership.
A Statement of Stability and Strategic Vision
Dr. Onyeali-Ikpe’s unwavering support for Fidelity Bank through substantial personal investment—especially amid legal scrutiny—stands as a hallmark of strategic leadership. Her actions reaffirm the institution's resilience and stability, offering reassurance to stakeholders as the bank works to conclude the inherited legal matter in line with court directives.
With a strong financial foundation, visionary leadership, and continued investor trust, Fidelity Bank remains firmly positioned as a top-tier Nigerian financial institution poised for sustained growth.