Fidelity Bank Plc Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, has invested more than N760 m in purchasing additional shares of the tier-one lender.
According to a regulatory filing on the Nigerian Exchange Group disclosures portal, Onyeali-Ikpe acquired 18 million shares valued at approximately N366m on May 19, 2025, at N20.35 per share. This recent purchase follows earlier acquisitions between November 21 and 27, 2024, when she bought a combined 25 million shares worth about N394 m.
These investments come amid ongoing legal challenges related to a Supreme Court ruling in a case inherited from the defunct FSB International Bank, which Fidelity Bank absorbed in 2005. Despite the legal scrutiny and some unsubstantiated reports circulating online, Dr Onyeali-Ikpe’s consistent buying signals strong faith in the bank’s leadership and financial stability.
Fidelity Bank’s recent financial performance supports this confidence. In the first quarter of 2025, the bank posted a Profit Before Tax of N105.8bn, representing a 167.8 per cent increase compared to the same period last year. Gross earnings also grew by 64.2 per cent year-on-year to N315.4bn, driven by rising interest income and non-interest revenue.
The bank’s balance sheet remains solid, with total deposits rising 11.1 per cent year-to-date to N6.6tn and net loans and advances growing by 5.0 per cent to N4.6tn. These indicators highlight the institution’s liquidity and ability to support growth.
Market reaction to the bank’s shares has been relatively stable. After reaching N21.00 on May 13, 2025, Fidelity Bank’s stock closed at N20.00 on May 19, 2025, reflecting a slight 3.8 per cent dip amid broader market movements.
The PUNCH reported that the Managing Director and Chief Executive Officer of Fidelity Bank Plc, Nneka Onyeali-Ikpe, has acquired a total of 15 million shares of the bank in a transaction valued at N239.4m.
