On May 19, 2025, Dr. Nneka Onyeali-Ikpe, the Managing Director and CEO of Fidelity Bank Plc, purchased 18 million shares of the bank at ₦20.35 per share, totaling approximately ₦366.3 million. This acquisition increased her total shareholding from 94.6 million to 112.6 million shares, representing a 19% rise in her personal stake and elevating her ownership to 29.03% of total director shareholding, up from 25.56% at the end of 2024.
The timing of this significant investment coincided with a Supreme Court ruling against Fidelity Bank in a ₦225 billion lawsuit related to a legacy case from the bank’s 2005 acquisition of the defunct FSB International Bank. While the court’s decision has raised concerns, Fidelity Bank has contested the reported liability, asserting that its internal assessment estimates the exposure at approximately ₦14 billion.
Dr. Onyeali-Ikpe’s share purchase is viewed by many analysts as a demonstration of confidence in the bank’s financial health and governance. This move follows her previous acquisitions in November 2024, where she bought a total of 25 million shares valued at nearly ₦397 million.
Under her leadership, Fidelity Bank reported robust financial performance in Q1 2025, with a pre-tax profit of ₦107.77 billion, marking a 167.8% year-on-year increase. The bank’s gross earnings rose by 64.2% to ₦315.4 billion, driven by significant growth in interest income and non-interest revenue.
Dr. Onyeali-Ikpe’s continued investment in Fidelity Bank during a period of legal scrutiny exemplifies strategic leadership and personal commitment. Her actions not only reinforce investor confidence but also underscore the bank’s robust financial standing and resilience.
