Fidelity Bank, FirstHoldco’ First Bank Meet N500bn New Capital Requirement

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• Await regulatory approval

Latest developments emerging from the Nigerian capital market and the financial services sector, showed that Fidelity Bank and FirstHoldco’s First Bank have scaled the hurdle of a new capital base of N500 billion for commercial banks with international authorization.

Fidelity Bank made the disclosure on Tuesday January 06, in a disclosure signed by Ezinwa Unuigboje, Company Secretary, titled “Update on Bank Recapitalisation” released by the NGX Exchange and obtained by our correspondent.

The bank announced “Fidelity Bank Plc (the Bank) is pleased to inform the general public that, following approvals granted by the Central Bank of Nigeria and the Securities and Exchange Commission, it successfully opened and closed a Private Placement of Ordinary Shares on December 31, 2025. This exercise resulted in the Bank raising N259Billion, increasing its eligible capital from N305.5Billion to N564.5Billion, awaiting regulatory approvals.

According to the report, Fidelity Bank’s Private Placement was conducted pursuant to the authorization received from the Bank’s shareholders at the Extraordinary General Meeting of February 6, 2025, to issue up to 20Billion Ordinary Shares by way of Private Placement.

It further recalled that, “the Bank had previously raised N175.85 billion through a Public Offer and Rights Issue in 2024, bringing its eligible capital to N305.5Billion and leaving a margin of N194.5Billion to meet the new regulatory capital requirement of N500 billion for commercial banks with international authorization”

Also, FirstHoldco’s First bank, in a disclosure dated January 2, 2026, signed by Abiola Baruwa, Group Company Secretary, announced titled “FirstHoldCo: FirstBank Achieves N500 Billion Regulatory Capital Requirement” said that the bank has fulfilled the CBN’s N500 billion new capital base.

The bank said “First HoldCo Plc (“FirstHoldCo” or “the Group”) today announces that its commercial banking subsidiary, First Bank of Nigeria (FirstBank), has successfully met the Central Bank of Nigeria’s (CBN) minimum capital requirement of N500 billion.

This milestone was achieved following the completion of a series of strategic capital initiatives, including a Rights Issue, a Private Placement, and the injection of proceeds from the divestment of the Group’s merchant banking subsidiary.

The recapitalisation strengthens the Group’s overall financial resilience, providing a robust platform for earnings growth through business expansion, technological innovation, and the pursuit of new opportunities”