Shareholders of Fidelity Bank Plc have lauded the Bank’s Board and Management for strengthening its capital base, improving asset quality and sustaining earnings growth despite a challenging operating environment.

The shareholders expressed their support at the Bank’s 38th Annual General Meeting, held virtually on Friday, 9 October 2026.

Speaking during the meeting, Bisi Bakare, National Coordinator, Pragmatic Shareholders Association of Nigeria, drew attention to the Bank’s non-performing loan ratio of 2.4 per cent and capital adequacy ratio of about 16.1 per cent as indicators of its financial resilience.

“The figures demonstrate that the Bank remains strong. With a non-performing loan ratio of 2.4 per cent, a customer base of 16 million and a capital adequacy ratio of 16.1 per cent, shareholders have reasons to support the Board and Management,” Bakare said.

Another shareholder, Boniface Okezie, Chairman of the Progressive Shareholers Association, commended the Bank’s leadership for completing its capital raise and positioning the institution above the new regulatory threshold.

“We commend the Board and Management for the successful capital-raising exercise. This gives us greater confidence in the future of the Bank and its capacity to deliver sustainable value to shareholders,” Okezie said.

The Bank completed a N227.05 billion private placement in December 2025, increasing its eligible capital from N305.5 billion to N532.6 billion. This placed Fidelity Bank above the N500 billion minimum capital requirement for banks with international authorisation.

Presenting the Bank’s performance, Board Chairman, Mrs Amaka Onwughalu, said Fidelity Bank remained focused on building a stronger and more sustainable institution capable of delivering long-term value.

“At Fidelity Bank, we are building for the long term by creating lasting value through trust, innovation and shared progress. Guided by purpose and responsibility, we are building a stronger, more agile and more sustainable institution, one designed to thrive through change and deliver enduring impact for generations,” Mrs Amaka Onwughalu said.

The Bank’s 2025 financial statements showed that gross earnings increased by 45.6 per cent to N1.52 trillion, compared with N1.04 trillion in 2024. Profit before tax stood at N347.7 billion, while profit after tax closed at N242.4 billion.

The Bank also strengthened key balance sheet and risk indicators. Its non-performing loan ratio improved to 2.4 per cent from 3.1 per cent, while the coverage ratio rose to 203.9 per cent from 138.4 per cent. Liquidity stood at 66.5 per cent, above the regulatory minimum of 30 per cent, while total equity increased to N1.09 trillion from N897.9 billion.

Managing Director and Chief Executive Officer, Dr Nneka Onyeali-Ikpe, said the Bank’s strategy remained centred on building a resilient institution, deepening customer relationships and creating sustainable value for stakeholders.

“Our focus remains on making financial services easy and accessible to our customers while building a stronger institution for shareholders, employees and the communities we serve,” Dr Nneka Onyeali-Ikpe said.

The External Auditors, Deloitte & Touche, issued an unmodified opinion on the Bank’s accounts, stating that the consolidated and separate financial statements fairly presented its financial position, performance and cash flows in accordance with applicable reporting standards and Nigerian laws.

At the meeting, shareholders received the Audited Financial Statements and reports of the Directors, External Auditors, Statutory Audit Committee and Independent Board Appraisal Consultants for the year ended 31 December 2025.

Shareholders also considered the election of Dr Jonathan Ososuakpor as a Non-Executive Director and the re-election of Mrs Amaka Onwughalu as a Non-Executive Director. The meeting noted the retirement by rotation of Chief Nelson Nweke as a Non-Executive Director.

Other business included authorising the Directors to fix the remuneration of the External Auditors for the 2026 financial year, disclosing the remuneration of the Bank’s managers and electing members of the Statutory Audit Committee.

The shareholders urged the Board and Management to sustain the momentum, deepen market competitiveness and continue strengthening returns to investors.

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 10 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

The Bank is a recipient of multiple local and international awards, including the 2025 Development Bank of Nigeria (DBN) Innovation Award for MSME support; Best Retail and SME Bank Award from Independent Newspapers; Best Bank for Export & Trade Finance and Most Innovative Bank of the Year at the 2025 BusinessDay Banks and Financial Institutions (BAFI) Awards; and Nigeria’s Best Private Bank at the 2025 Euromoney Awards. The Bank also received the inaugural Most Improved Commercial Bank of the Year award by Nairametrics, the SME Bank of the Year award by NewsDirect, and the Straight-Through Processing (STP) Excellence Award by Citi Group, in addition to recognition by Global Brands Magazine for Excellence in Community Empowerment.

The labour centre argued that the government could not continue to demand sacrifices from workers while failing to provide relief from the economic pressures confronting them.

Health sector agreement

The NLC also included the implementation of a previous agreement with health-sector unions among the conditions contained in its ultimatum. It demanded implementation of the Terms of Settlement reached with the Joint Health Sector Unions and the Assembly of Healthcare Professionals on February 5, 2026.

The union also wants the Federal Government to implement the demands of the Joint Public Sector Negotiating Council. The NLC did not announce a specific strike date or identify the exact form of industrial action that could follow if the government fails to meet its demands.

Instead, the communiqué states that failure to comply within the two weeks would mean the NLC would be “compelled to take remedial steps as would be directed by the relevant organs.”

The warning puts the government under pressure to respond to a broad set of labour demands covering fuel prices, wages, taxation and outstanding agreements with public-sector and health-sector workers.

The NLC called on its affiliates and progressive allies to remain on high alert and fully prepared to participate in what it described as “decisive efforts” against policies it considers harmful to workers and the wider population.

The labour centre reaffirmed what it described as its historical responsibility to resist all forms of exploitation and oppression, urging Nigerian workers to remain resolute, organised and uncompromising in the pursuit of a fair and equitable Nigeria.

Dangote Cement Plc, Obajana Plant, has strengthened its support for the Jakura community through scholarship awards and empowerment programmes for farmers and market women.

Speaking at the recent presentation ceremony, Plant Director, Obajana Plant, Azad Nawabuddin, said the scheme was part of the company’s commitment to implementing the provisions of the Community Development Agreement, according to a statement from the firm on Thursday.

Represented by the Head of Social Performance at the Obajana Plant, Prince Ademola Adeyemi, he said the empowerment programme benefited students, farmers and market women.

Nawabuddin said the programme, which focused on students, farmers and market women, underscored DCP’s continued commitment to sustainable community development, poverty reduction and economic empowerment across its host communities.

He said a total of 20 beneficiaries drawn from several tertiary institutions and 60 beneficiaries from secondary schools received educational grants running into millions of naira.

He disclosed that 20 farmers were provided with essential farming implements and funds, noting that the initiative was designed to enhance agricultural productivity, encourage the adoption of improved farming practices and contribute to greater food security in the community.

Twenty market women were each provided with start-up capital and business support to strengthen their enterprises, promote financial independence and enhance household incomes.

The event attracted several stakeholders, traditional rulers, government representatives and community leaders, including His Royal Highness, Oba Usman Adoga Ajibola, the Obaro of Jakura; Representative of the Olu of Oworo, Chief K.A. Mahmood, the Obalumema of Oworo Land; E.O. Olaitan, Ministry of Solid Minerals Development (MSMD); Mrs. A.O. Onimode, Kogi State Ministry of Solid Minerals and Natural Resources; youth and women groups; and members of the Jakura traditional council, among others.

Earlier in his welcome address, the Chairman of Jakura CDA Committee, Chief Bonibade Ajiboye, appreciated Dangote Cement Plc, Obajana Plant, for keeping to its commitments, noting that, aside from the empowerment programme, the electrification project was almost completed.

He commended the Plant for the gesture towards the Jakura community despite the security challenge.

Goodwill messages were brought to the event by members of the Jakura traditional council, Oworo traditional council, and Federal and State representatives, with all commending and joining the Jakura community to express appreciation to Dangote Cement Plc, Obajana Plant.

In his remarks, His Royal Highness, Oba Usman Adoga Ajibola, the Obaro of Jakura, expressed gratitude to Almighty God for blessing Jakura with abundant mineral resources and commended Alhaji Aliko Dangote for choosing to invest in the area.

The royal father also lauded Dangote Cement Plc for its numerous developmental interventions in the community, describing the latest empowerment initiative as another demonstration of the company’s commitment to improving the welfare and livelihoods of its host communities.

He pledged that the community would ensure the sustainability of the projects and see to it that the beneficiaries put their respective benefits to good use.