The Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe, has continued to demonstrate her confidence in the financial institution by acquiring more than N760 million worth of the bank’s shares within a six-month window, despite ongoing legal distractions.
According to a regulatory disclosure filed on the Nigerian Exchange Group (NGX) portal, Onyeali-Ikpe purchased 18 million shares valued at N366 million on May 19, 2025, at a unit price of N20.35. This follows earlier acquisitions made between November 21 and 27, 2024, during which she bought 25 million shares for approximately N394 million.
This brings her total investment in Fidelity Bank shares to over N760 million, a move interpreted by market analysts as a bold signal of confidence in the bank’s long-term fundamentals and leadership direction.
The renewed insider buying comes at a time when the bank is facing legacy legal issues tied to the now-defunct FSB International Bank, which Fidelity Bank absorbed in 2005. Though there have been speculations and unverified reports surrounding a recent Supreme Court ruling, Fidelity Bank has maintained that the matter is being handled through proper legal channels, with no impact on its core operations.
Backed by strong financial performance, the bank posted N105.8 billion in Profit Before Tax (PBT) for the first quarter of 2025, marking a 167.8% increase compared to Q1 2024. Gross earnings also surged 64.2% year-on-year to N315.4 billion, driven by improvements in both interest income and non-interest revenue.
Fidelity Bank’s total deposits rose by 11.1% year-to-date to N6.6 trillion, while net loans and advances climbed 5.0% to N4.6 trillion—indicating strong liquidity and growing lending capacity.
Despite market-wide volatility, the bank’s stock remains relatively stable. After peaking at N21.00 on May 13, 2025, it closed at N20.00 on May 19, reflecting a marginal 3.8% dip, which analysts attribute to broader investor sentiments rather than company-specific concerns.
