Recapitalisation Race: Fidelity Bank Crosses CBN’s N500bn Requirement as Deadline Nears
- Fidelity Bank has met the N500 billion capital requirement for banks with international licences
- The move came as Nigerian banks raced to comply with tougher capital rules introduced in 2024
- The recapitalisation push triggered equity raises, merger talks and balance-sheet restructuring across the banking industry
Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
Fidelity Bank Plc has crossed the Central Bank of Nigeria’s (CBN) N500 billion minimum capital requirement for commercial banks with international licences, becoming one of the lenders to meet the tougher regulatory threshold ahead of the March 2026 deadline.
The Lagos-based bank stated that it raised N259 billion through a Private Placement of ordinary shares, increasing its eligible capital to approximately N564.5 billion from N305.5 billion, pending final regulatory approvals.
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The development places Fidelity among banks that have successfully complied with the apex bank’s recapitalisation mandate.
Fidelity Bank recapitalisation process
In a disclosure filed with the Nigerian Exchange, the lender said the Private Placement opened and closed on December 31, 2025, after receiving approvals from the CBN and the Securities and Exchange Commission.
Fidelity said the transaction was conducted under a mandate granted by shareholders at an Extraordinary General Meeting held on February 6, 2025, which authorised the issuance of up to 20 billion ordinary shares. The bank did not disclose the pricing details or the composition of investors involved in the placement.
The latest fundraising caps an aggressive capital-raising programme pursued by the lender over the past two years.
In 2024, Fidelity raised N175.85 billion through a Public Offer and Rights Issue, taking its eligible capital to N305.5 billion and leaving a shortfall of about N194.5 billion relative to the new regulatory requirement.
CBN capital requirements
In March 2024, Nigeria’s central bank announced a sweeping recapitalisation programme designed to strengthen the banking system, raising the minimum capital base for commercial banks with international licences to N500 billion.
The framework also increased requirements for national and regional banks to N200 billion and N50 billion respectively, with a 24-month compliance window ending on March 31, 2026.
The CBN's reforms have triggered a wave of equity issuances, merger discussions and balance-sheet restructuring across the sector.
Already, 19 banks have been confirmed to have met the CBN threshold.
With fewer than 90 days to the Central Bank of Nigeria’s March 31, 2026 recapitalisation deadline, 19 banks have now met the new minimum capital requirements needed to retain their operating licences.
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- Access Holdings
- Zenith Bank
- Guaranty Trust Bank
- Ecobank
- Stanbic IBTC
- Wema Bank
- United Bank for Africa (UBA)
- Sterling Bank
- Jaiz Bank
- Lotus Bank
- Providus Bank
- Greenwich Merchant Bank
- PremiumTrust Bank
- Globus Bank
- Citibank Nigeria
- Nova Bank
- First Bank Nigeria
- Fidelity Bank Plc
- FSDH Merchant Bank
CBN lists 28 banks barred from international branches
Earlier, Legit.ng reported that the Central Bank of Nigeria released data showing 28 banks in the country are currently not authorised to operate internationally.
Under CBN’s regulatory framework, banks with international authorisation are permitted to operate beyond Nigeria’s borders and engage in cross‑border banking activities.
Only a few first-tier banks currently hold international authorisation to operate offshore.
Proofreading by Funmilayo Aremu, copy editor at Legit.ng.
Source: Legit.ng
