Fidelity Bank Plc said on Wednesday that it has concluded arrangements to raise N127.1 billion by way of a rights issue to existing shareholders and a public offer. The combined offer is a part of the bank’s strategy to increase its share capital base in compliance with the revised minimum capital requirements for Nigerian commercial banks introduced by the Central …

Investors in Fidelity Bank Plc have earned more than 507 per cent in capital gains over the past five years, ranking above all other major return benchmarks at the Nigerian stock market and the entire banking sector. Trading reports at the Nigerian stock market for the five-year period between May 31, 2019 and May 31, 2024 showed that Fidelity Bank …

The House of Representatives has pledged its commitment to engage with relevant stakeholders to ensure the safety of depositors’ funds with Heritage Bank, following the revocation of the bank’s operating licence by the Central Bank of Nigeria (CBN) on Monday. In a statement issued by its spokesman, Hon. Akin Rotimi, the House said it was aware of the revocation of …

The Central Bank of Nigeria (CBN) on Sunday expressed relief that Nigerians have fully embraced the introduction of Islamic banking years after speculations made the round that it was an attempt to Islamise the country This was disclosed by the CBN Governor, Yemi Cardoso, at a reception organised to honour the Secretary-General, Organisation of Islamic Cooperation (OIC) Arbitration Centre, Dr …

The Naira yesterday appreciated in the parallel market to N1,375 per dollar from N1,500 per dollar on Tuesday. The Naira was depreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM rose to N1,329.65 per dollar from N1,173.88 per dollar on Tuesday, indicating N155.77 depreciation for …

Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices, according to the Nigerian Exchange (NGX). It said that Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards. …

The Naira yesterday appreciated in the parallel market to N1,500 per dollar from N1,525 per dollar on Monday. Similarly, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,481.23 per dollar, indicating N141.9 appreciation for the naira. …

The Naira yesterday depreciated in the parallel market to N1,525 per dollar from N1,520 per dollar last weekend. However, the Naira appreciated to N1,339.33 per dollar in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data from FMDQ showed that the indicative exchange rate for NAFEM fell to N1,339.33 per dollar from N1,482.81 per dollar last weekend, indicating N143.48 appreciation for …

Shareholders have expressed readiness to massively support and mobilise for the ongoing recapitalisation of Fidelity Bank Plc amid commendations for the impressive performance of the bank over the years. Shareholders were unanimous that Fidelity Bank has shown strong resilience over the years and demonstrated its investors’ friendliness with significant dividends and capital gains. Under the auspices of Nigeria’s leading shareholders’ …

Nigeria recorded $204.47 million as letters of credit payments in the first quarter (Q1) of 2024. According to the international payments data obtained from the Central Bank of Nigeria (CBN) on Sunday, the figure recorded in Q1 represents a decrease of $344.75 million or 62.7 per cent compared to the $549.22 million reported in the same quarter in 2023. A …