In a significant move within Nigeria's financial sector, Fidelity Bank Plc has successfully met the Central Bank of Nigeria's stringent N500 billion minimum capital requirement for commercial banks holding international licences. This achievement positions the lender among the frontrunners in the industry-wide race to comply with the regulator's tougher capital rules ahead of the fast-approaching deadline.
Fidelity's Capital Raise: Crossing the N500bn Threshold
The Lagos-based financial institution confirmed it bolstered its capital base through a substantial Private Placement of ordinary shares, which opened and closed on December 31, 2025. This strategic fundraising effort generated N259 billion, catapulting the bank's eligible capital from approximately N305.5 billion to an impressive N564.5 billion, pending final approvals from the relevant authorities.
This transaction was executed under a mandate granted by shareholders during an Extraordinary General Meeting held on February 6, 2025. The meeting authorised the issuance of up to 20 billion ordinary shares to facilitate the capital increase. The latest injection of funds caps a vigorous two-year capital-raising programme by Fidelity Bank, which included a Public Offer and Rights Issue in 2024 that raised N175.85 billion.
The CBN's Recapitalisation Mandate Reshapes the Industry
The drive for increased capital stems from a sweeping reform announced by the Central Bank of Nigeria (CBN) in March 2024. Aimed at fortifying the banking system against economic shocks and supporting larger-scale lending, the policy dramatically raised the minimum capital base for different categories of banks.
The new requirements are as follows:
- Commercial banks with international authorisation: N500 billion
- Banks with national licences: N200 billion
- Banks with regional licences: N50 billion
The CBN gave financial institutions a 24-month compliance window, setting a final deadline of March 31, 2026. This directive has triggered a wave of strategic activities across the sector, including equity issuances, merger discussions, and comprehensive balance-sheet restructuring.
The Growing List of Compliant Banks
With fewer than 90 days remaining until the deadline, the landscape of Nigeria's banking industry is rapidly solidifying. Fidelity Bank now joins an expanding group of institutions confirmed to have met the apex bank's new capital thresholds. According to recent data, 19 banks have successfully crossed their respective capital finish lines, securing their operational licences for the future.
This elite group, which includes Fidelity Bank, comprises major players that have successfully navigated the recapitalisation process, ensuring their capacity to operate and compete under the new regulatory framework.
The successful recapitalisation of Fidelity Bank and its peers marks a pivotal moment for Nigeria's financial ecosystem. It signifies a transition towards a more robust, resilient, and well-capitalised banking sector poised to drive economic growth and facilitate international trade. As the March 2026 deadline looms, the focus now shifts to the remaining banks still working to bridge their capital shortfalls and the potential for further industry consolidation.
