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LASU-NIS PARTNER TO HOST AFRICAN BORDERLANDS RESEARCH NETWORK 2026 CONFERENCE AS VICE-CHANCELLOR VISITS RELEVANT AGENCIES

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The Lagos State University, LASU and the Nigeria Immigration Service, NIS are set to co-host the next edition of African Borderlands Research Network conference, ABORNE for the first time in Nigeria come September 2026.

This was made known by the Vice-Chancellor of the institution, Professor Ibiyemi Ibilola Olatunji-Bello, mni, NPOM, recently when she led a team to the Comptroller General of the Nigeria Immigration Service Kemi Nanna Nadap at the Headquarters of the service in Abuja to commence preparations for hosting this important conference.

Accompanying the Vice Chancellor were Dr. Willie Eselebor founder and Director of the Universal Research and Training Institute, URTI, located in Badagry, Professor Tunji Azeez, Acting Dean, School of Tourism, Film, Performing Arts and Cultural Studies, Professor Adewunmi Falode, Director, Centre for Peace and Security Studies and Mrs. Fatima Oguniyi, Personal Assistant to the VC.

According to the VC, the two institutions will work together to ensure that Nigeria hosts one of the best conferences in the ABORNE’s history. She also seized the opportunity to inform the Director General of the establishment of the Border and Migration Studies programme by the Lagos State University. She stressed that the university will run this course at Bachelor’s, Postgraduate and professional certificate and diploma levels.

Lending his voice to the conference, Dr Willie Eselebor, who also doubles as the university’s consultant on the Border and Migration Studies programme, drew attention to the strategic location of Lagos as the only state in the country with land, air and sea borders. He noted that the location of the university along the Lagos-Abidjan corridor makes it imperative for the establishment of the Border and Migration Studies Programme.

He further informed that these were some of the reasons why the ABORNE Chiefs, led by Professor Paul Nugent of the University of Edinburgh, United Kingdom, granted the hosting right to LASU and NIS. He further informed that LASU and URTI have signed a Memorandum of Understanding to run professional courses in Border and Migration.

He concluded that the theme of the conference is ‘The Connected Borderlands, Socio-Cultural Integration and the Centrality of Policy, Research, and Security’, and that over 250 scholars, practitioners and development organisations are expected to attend the conference.

In her response, the Director-General said she was excited that the hosting right of the conference was granted to Lagos State University and the Nigeria Immigration Service and promised the full support of the service to the success of the conference in 2026.

She noted that to address border and immigration challenges confronting the country, Africa and the world in general, it is important that relevant stakeholders come together to find solutions to the problems. She further promised to enter into a Memorandum of Understanding with the university on training and development.

The team also visited the Director General, National Boundary Commission, Surveyor Adamu Adaji, and the Executive Secretary, Border Communities Development Agency, Dr Dax Alabo George- Kelly.

Responding, the chief executives also promised to fully support the conference.

GTCO Transforms Lives with Waste-for Gas Initiative, Distributes 3,000 Gas Cylinders to Obafemi Owode Community

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L-R: HRM Oba Kolawole Aremu Sowemimo, the Olu of Owode -Egba in Obafemi Owode Local Council; Mr. Odeyinka Temitayo, Director of Admin & Supply, Ogun State Environmental Protection Agency (OGEPA); Hon. Ogunsola Adesina, Chairman of Obafemi Owode Local Council; Madam Risikat Ayoka, Beneficiary of the GTCO Waste for Gas Initiative; and Oyinade Adegite, Chief Communication Officer, GTCO Plc, at the GTCO Waste for Gas initiative event, where gas cylinders were donated, recently held at the Obafemi Owode Secretariat, Owode-Egba, Ogun State.

As part of its ongoing efforts to enhance the quality of life for households and empower women in underserved communities, GTCO PLC has launched its Waste for Gas initiative which saw over 3,000 residents of Obafemi Owode Local Government Area of Ogun State, receive a unit each of a 3kg gas cylinder.

Speaking about the initiative, the Group Chief Executive Officer, GTCO PLC, Mr. Segun Agbaje noted that beyond delivering innovative financial solutions, the institution is deeply committed to making a meaningful impact in the communities where it operates.

“The Waste for Gas initiative is about making life easier for families, giving them more time to focus on important activities such as education, work, or personal development,” he stated. “Beyond this, our goal is to continuously develop sustainable initiatives that empower individuals, strengthen communities, and contribute to socioeconomic growth.”

Speaking at the unveil/presentation event, GTCO’s Chief Communication Officer, Oyinade Adegite, highlighted that the initiative was designed to promote cleaner communities while enhancing household welfare.

According to Adegite, providing access to gas-powered cooking solutions will not only simplify daily routines but also free up time for other productive activities that support financial stability. She further noted that GTCO conducted thorough assessments by visiting beneficiaries’ homes to ensure that the support reached those who genuinely needed it.

“We visited various households across the local government and were surprised to find that some residents had already gone borrowing from money lenders just to afford gas cylinders, while some others were considering doing the same,” she revealed.

She urged beneficiaries to use the cylinders for their intended purpose and not resell them, adding that GTCO would return for the second phase of the program. The bank’s decision to expand the initiative would depend on how well the items are utilized.

Expressing gratitude for the initiative, Obafemi Owode Local Government Chairman, Ambassador Ogunsola Adesina, stated that the intervention would significantly improve the standard of living in the area. He also appealed to GTCO to establish a branch within the community to alleviate the banking challenges residents currently face.

In his remarks, Olu of Owode-Egba, Oba Kolawole Aremu Sowemimo, advised beneficiaries not to sell the gas cookers and assured them that discussions were underway to establish discounted gas refill stations within the community.

Additionally, Iyaloja General, Chief Ganiyat Oyelakin, cautioned beneficiaries to use the gas cookers safely to prevent accidents. Residents were also educated on the proper handling and maintenance of their gas cylinders.

Expressing their gratitude, beneficiaries lauded GTCO for the initiative. One of them, Madam Risikat Ayoka, shared, “We are excited. This gesture will make us stop using firewood for cooking”.

FCTC@20: CAPPA Urges Government to Escalate Enforcement of Tobacco Control Laws

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The Corporate Accountability and Public Participation Africa, CAPPA has urged the Nigerian government to escalate enforcement of the National Tobacco Control Act, NTCA, the National Tobacco Control Regulations, as well as the Regulation prohibiting promotion and glamourisation of smoking in the film and music industry.

This call was made as the world marks the 20th anniversary of the World Health Organisation Framework Convention of Tobacco Control, WHO-FCCT.


In a statement on Wednesday, CAPPA notes that the FCTC is the first global public health treaty, adopted on 27 February 2005. It regulates tobacco products, including their content, packaging, advertising, marketing, sponsorship, price, taxation, and illicit trade, to protect future generations from the health, social, environmental, and economic consequences of tobacco use. Many countries have become parties to the treaty, including 183 countries representing 90 percent of the world’s population.

Nigeria became a signatory to the treaty in 2004 and ratified it in 2005. To implement the convention, the country enacted the National Tobacco Control Act 2015, and later the National Tobacco Control Regulations in 2019, and, most recently, the Regulation prohibiting the promotion of smoking.

“This milestone offers an opportunity to reflect on the treaty’s remarkable achievements, renew our commitment to tobacco control, and engender a healthier, tobacco-free future for Nigerians,” said Akinbode Oluwafemi, Executive Director at CAPPA.

However, he noted that despite these laws, the enforcement of tobacco control in Nigeria has been low, with the industry exploiting regulatory gaps to target more victims, especially younger demographics, with new, addictive, unregulated tobacco and nicotine products of death and disease.

“Annually, more than 8 million people die from diseases caused by smoking and other tobacco use,” Oluwafemi said. “In Nigeria, tobacco-related illnesses kill 26,800 yearly and cause terrifying non-communicable diseases including cancer, heart disease, and chronic respiratory diseases on thousands more, costing billions in healthcare expenses and lost productivity.

”In addition, tobacco cultivation, manufacturing and use poison our water, soil, beaches and streets with chemicals, toxic waste, cigarette butts, including microplastics, and e-cigarette waste, destroying our environment and further harming human and animal health.”

“Worse yet,” Oluwafemi noted, “the tobacco industry is exploiting our weak legislative and enforcement environment to aggressively lobby governments and the public to embrace newer kinds of harmful tobacco products that it presents as ‘safer’ than traditional tobacco use. Through deceptive marketing on social media and corporate social responsibility (CSR), the industry undermines tobacco control laws and entices more users into tobacco consumption.

“To be clear, these products, including e-cigarettes and other electronic nicotine delivery systems (ENDS), heated tobacco products (HTPs), snus, and oral nicotine pouches, among others, are not safe. Rather they are addictive and contain carcinogenic and other dangerous chemicals that make them an unacceptable, man-made health risk.”

To counter the problem, CAPPA canvassed intensified regulatory measures and the full operationalisation of the National Tobacco Control Fund (NTCF), including adequate funding.

Oluwafemi said: “The Federal Government must show that it recognises and understands the alarming danger tobacco consumption poses to public health and the economy, by raising the allocation to the Tobacco Control Fund from the present 10 million Naira to a minimum of 300 million Naira for the effective regulation of tobacco consumption.

”This will aid the National Tobacco Control Committee (NATOCC) and the Tobacco Control Unit (TCU), domiciled within the Federal Ministry of Health and Social Welfare, to carry out their responsibilities as stipulated in the National Tobacco Control Act.

“Such responsibilities include implementing robust public health campaigns to educate citizens about the dangers of tobacco use, funding research initiatives to monitor trends in tobacco consumption and evaluate policy impacts, enhancing enforcement efforts, including monitoring compliance with existing laws and prosecuting violations and supporting alternative livelihood programs for tobacco farmers, ensuring that they transition sustainably to other crops.”

“The FCTC has been known to save lives, and by leveraging it locally, we can shield more Nigerians from the dangers of the tobacco industry.”

Governor Soludo Charges South East Development Commission to Prioritise Railway Connecting South-Eastern States

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blacktalker
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Governor Charles Soludo of Anambra State has urged Mr. Mark Okoye, the pioneer Managing Director and Chief Executive Officer of the South East Development Commission, SEDC to place on top priority the regional railway project connecting the five South East states due to its significant economic importance to the area.

According to the State’s Commissioner for Information, Law Mefor, the governor’s assertion was corroborated by the Anambra State Executive Council, ANSEC at its fourth meeting on February 24, 2025, where Soludo and the Council members bid farewell to Okoye, as he resumes office as the SEDC boss.

Recently, when Okoye was appointed, Governor Soludo applauded President Tinubu for Okoye’s choice and expressed confidence that it will positively impact the Southeast region, considering his wealth of experience in investment banking and dedication to public service while serving as the MD/CEO of the Anambra State Investment Promotion and Protection Agency .

This is coupled with his previous role as Commissioner for Budget and Economic Planning in the state.

Soludo added that the choice of Okoye for the SEDC head underscores the Federal Government’s commitment to fostering development in the region, and extended his good wishes to the Chairman and Members of the governing board of the Commission.

With the ongoing and completed projects in the state, Governor Soludo has turned Anambra into a construction site in his pursuit of transforming the state into a land of infinite opportunities for the people and discerning investors.

ANSEC Supports NAFDAC’s Initiatives to Rid Markets of Fake, Expired Drugs

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blacktalker
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The Anambra State Executive Council, ANSEC has pledged its support for the initiative of the National Agency for Food and Drug Administration and Control, NAFDAC to rid the state of fake and expired drugs.

ANSEC at its fourth meeting held in the Council Chamber on February 24, 2025, asserted its commitment to the eradication of counterfeit drugs in Anambra and its backing for the NAFDAC scheme.

In a statement by the State’s Commissioner for Information, Law Mefor, ANSEC commended Governor Charles Soludo, who visited the closed drug market in Onitsha and urged NAFDAC to expedite inspection and verification of the drugs being sold and manufactured in the state to ascertain their genuineness, while promising support.

To combat fake drugs, the Council completed the Anambra State Pharmaceutical Hub, called ‘Coordinated Wholesale Drug Centre (CWC), at Oba, in Idemili South Local Government Area in Anambra State.

As part of Governor Soludo’s drive to ensure an enduring legacy in the healthcare sector, he recently built a new general hospital with modern facilities for the Okpoko community in Ogbaru Local Government Area of Anambra State, in fulfillment of the promise made before coming into office.

Dr. Chinasa Eze, from the Ophthalmologist Unit of the Okpoko General Hospital, affirmed that the governor has equipped the eyecare division with facilities to improve the sight of the people in the community. Additionally, free antenatal services for pregnant women have been approved for the women of the community.

This comes on the heels of Governor Soludo’s award as the best-performing governor in primary healthcare delivery in the Southeast and Nigeria overall.

The prestigious awards were presented by the Nigeria Governors’ Forum (NGF), the Bill and Melinda Gates Foundation, the Aliko Dangote Foundation, the Federal Ministry of Health, and the United Nations Children and Education Fund (UNICEF).

Soludo has also upgraded primary healthcare centers and constructed five new general hospitals, equipping them with first-rate facilities and skilled personnel for efficient, affordable, and quality healthcare services, with the employment of 1,000 health workers.

Unity Bank Posts 59.3 Billion Naira in Gross Earnings, Grows Deposits by 23 Percent in 2023 FY

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blacktalker
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Retail lender, Unity Bank Plc has posted gross earnings of 59.3 billion Naira for the full year ended December 31, 2023, representing a growth of 3.84% year-on-year. 

In its audited financials submitted to the NGX Group Limited, the Bank also witnessed improvements across key performance indicators, including a significant appreciation of customer deposits by 23% to 402.9 billion Naira from 327.4 billion Naira within the period under review – an indication of sustained retail growth and customer confidence. 

Other key highlights of the full-year results include the total assets which stood at 472.5 billion Naira; net fee and income commission, 5.2 billion Naira and an increase in interest income by 9.6% to 53.7 billion from 48.8 billion Naira within the period. 

Commenting on the result, the Managing Director/Chief Executive Officer of Unity Bank Plc, Mrs. Oluwatomi Somefun said the Bank had issued a profit alert to reflect revaluation loss arising from Naira devaluation which was due to the acute shortage of Forex that created an inclement business environment and, on the aggregate, set in an economic headwind.

She noted, however, that in the full-year statement, this has bottomed out and the key performance indicators are rebounding from the low level of growth and negative trends that characterized the year.

Mrs. Somefun stated: “As we begin to see the margins being closed, it is an indication that the measures being taken to revamp all aspects of the business is being well received by the market: be it workable recapitalization plan, aggressive drive for asset creation, product innovation, or digital banking”.

“We will need to covet the improvements and further build upon it. As a corporate brand, we have a lot that is keeping us going: the positive sentiments and optimism, the growing franchise of the business and steady growth in different segments of the retail market across all the geo-political zones of Nigeria” ” she said.

She added, “We have the right indicators to reclaim lost grounds – innovating with the development and soon to be launched an omnichannel digital app to improve reliability, customer experience, support diverse products functionality which will impact earnings, income and profitability.”

The Central Bank of Nigeria (CBN) has recently approved a business combination with another innovative Bank in Nigeria, marking a significant milestone in the Bank’s growth strategy as it advances its recapitalization plans. This partnership is built on a shared vision to redefine the banking experience for our customers and will drive the transformation of the consolidated entity.

By leveraging Unity Bank’s extensive branch network and strong customer relationships alongside the entity’s digital expertise and commitment to innovation, we aim to create a seamless integration of traditional and modern banking services.

Amid a review of key highlights that support the steady growth of the retail business, analysts are of the view that the Bank has continued to reflect a good outlook in terms of perception and confidence in the market, which by and large creates an entity with remarkable resilience whilst investors’ sentiments remain positive.

KPMG Partners HEI to Equip Students with Emergency Response Skills

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blacktalker
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KPMG, one of the “Big Four” accounting firms, has partnered with the Health Emergency Initiative, HEI to empower senior secondary school students with life-saving skills, focusing on CPR, first aid, and other pre-hospital emergency techniques.

This collaboration reflects KPMG’s commitment to fostering youth empowerment and inclusive learning through impactful social initiatives. 

The programme, which trained over 50 senior secondary school students from Queen’s College and other participating schools, is part of a broader goal to enhance emergency preparedness among young Nigerians.

The training is designed in a Train the Trainer, TOT model that ensures each of the students would train/cascade the skill to 50 of their schools mates within 90 days with additional support from HEI.

Through this partnership, KPMG and HEI aim to address the alarming statistics related to cardiovascular diseases, road traffic accidents, and other emergencies, which are major causes of preventable deaths in Nigeria.

Partner and CSR Lead at KPMG, Nike Yomi-Faseun, spoke at the programme launch and stressed the importance of equipping young people with CPR, first aid and other prehospital skills.

She highlighted the initiative as a vital investment in saving lives and encouraged other organisations and individuals to support similar programs. She also emphasised HEI’s strong reputation for transparency and effective project execution.

In his remarks, Executive Director of HEI, Paschal Achunine who is an Ashoka Fellow, expressed gratitude to KPMG for its support in advancing emergency preparedness in schools.

“This collaboration is a testament to KPMG’s dedication to making a lasting impact in our society. By training students as first responders, we are fostering a culture of life-saving interventions that will reduce fatalities from pre-hospital emergencies,” he said. 

According to Achunine, under the programme, First Responders Clubs were established in participating schools, promoting sustainability and continuous learning. He said these clubs will engage in activities such as essay competitions, quizzes, and debates to further embed a life-saving culture among students. 

”The partnership builds on HEI’s ongoing efforts,  which has seen the organisation train over 126,000 first responders.

”Additionally, the Lagos State Government recently approved a five-year program for HEI to integrate first responder training into the secondary school curriculum, highlighting the alignment between HEI’s initiatives and government priorities. ”

About Health Emergency Initiative, HEI.

HEI is a leading NGO committed to improving health outcomes in Nigeria through emergency medical support, first responder training, and post-crash care.

With a mission to ensure no life is lost due to lack of timely medical intervention, HEI has become a trusted partner to government agencies, organisations, schools, and communities nationwide.

ICCD 2025: Second-hand Smoke and Childhood Cancer

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blacktalker
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By Esi-ife Arogundade

This year’s International Childhood Cancer Day, ICCD with the theme: “Inspiring Action” reminds us that childhood cancer remains a tragic reality for many families. The most recent estimate from the International Agency for Research on Cancer (IARC) reveals that around 275,000 new cases of cancer occur worldwide in children aged 0–19 each year.

While the exact causes of most childhood cancers are still not fully understood, researchers are increasingly looking into environmental factors that may contribute to the risk. One area of growing concern is second-hand exposure, particularly regarding tobacco smoke.

Second-hand exposure refers to the inhalation of harmful substances by individuals who are not the primary users of those substances. In the case of tobacco products, it is also called second-hand smoke (SHS) exposure, a deadly problem for both young and old. According to the World Health Organisation, tobacco kills more than 8 million people each year, including an estimated 1.3 million non-smokers who are exposed to second-hand smoke.

In Nigeria alone, tobacco use claims about 26,000 lives and inflicts debilitating conditions and non-communicable diseases, NCDs like cancer, heart disease, and chronic respiratory diseases on thousands more.

While the causes of childhood cancer are complex and multifaceted, addressing second-hand exposure remains a critical component of prevention efforts.

A study found that adolescents in Nigeria who were exposed to SHS had an increased risk of lung cancer. According to another study, exposure to SHS during pregnancy increased the risk of cancer in descendants. 

Furthermore, maternal smoking during pregnancy may also be a risk factor for retinoblastoma and certain types of childhood brain tumours. Children who grow up in homes or environments where adults smoke are often subjected to these harmful chemicals, even if they do not smoke themselves.

Even brief exposure or living near a smoker can subject children to harmful carcinogens, leading to long-term health consequences. For children, living in households with smokers is the biggest risk factor for second-hand smoke exposure. Parental smoking, low socioeconomic status, low educational level, and less negative attitudes toward second-hand smoke have been associated with a child’s exposure to second-hand smoke at home. 

Given the potential risks associated with second-hand exposure, parents and caregivers must take proactive steps to protect children. Some strategies to minimize exposure include creating a smoke-free environment, conducting regular health check-ups, and educating others about the danger of tobacco use and second-hand smoke.

Establishing a smoke-free home and car is one of the most effective measures to prevent second-hand tobacco smoke exposure. Family and friends should be encouraged to refrain from smoking.

Regular health check-ups should be scheduled for children to monitor their overall health and address any concerns with a paediatrician.

Spreading awareness about the potential risks of second-hand exposure to friends and family is also critical. Informing others can foster a community of support that prioritizes children’s health.

Ultimately, the solution to second-hand smoke-induced childhood cancer is not legalising or making tobacco products available to the Nigerian public.

By recognizing the potential risks of tobacco consumption and taking proactive measures, families can create healthier environments for children, ultimately contributing to the reduction of childhood cancer rates.

ICCD is a global collaborative campaign to raise awareness and promote an increased appreciation and deeper understanding of the challenges faced by children and adolescents with cancer, the survivors and their families. ICCD spotlights the need for more equitable access to treatment and care for all children with cancer, everywhere.

ICCD 2025 marks the second phase of a three-year global initiative focused on tackling the challenges faced by children with cancer.

Arogundade is a tobacco control advocate at Corporate Accountability and Public Participation Africa, CAPPA.

OGUN STATE POLICE FOILS KIDNAP ATTEMPT ON LONG BRIDGE, NEUTRALIZES FOUR KIDNAPPERS, OTHERS ESCAPE WITH BULLET WOUNDS

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…Operational Weapons Recovered, All Victims Rescued Unharmed

In a swift and well-coordinated response to a distress call, operatives of the Anti-Kidnapping Unit of the Ogun State Police Command has foiled a kidnap attempt along the Warewa axis of the Long Bridge on February 20, 2025, at about 20:30hrs.

A white Paragon commercial vehicle with registration number BDG 753 YH, driven by Mr. Morufu Adedeji and heading towards Lagos, was ambushed by unknown armed men at a lonely section of the road. The assailants, wielding firearms and dangerous weapons, forcefully halted the vehicle, pointed a gun at the driver, and began robbing passengers at gunpoint.

During the attack, some passengers managed to escape through the rear door, which had been smartly and courageously opened by the driver. This act enraged the kidnappers, who then brutally assaulted the driver to the point of unconsciousness. Other motorists raised an alarm, which was swiftly intercepted by the Anti-Kidnapping Team on patrol.

Upon arrival, the police operatives engaged the criminals in a gun duel. Four of the armed men were fatally injured, while others escaped with gunshot wounds into the surrounding forest.

Items Recovered at the Scene
• One locally made pistol with two cartridges
• Two daggers
• Cash sum of 20,000 Naira
• One Tecno Android phone
• One solar power bank
• Three USB lights (suspected stolen property)

The bodies of the neutralized kidnappers have been deposited at the State Hospital Morgue, Ijaiye, Abeokuta, for autopsy and further investigation.

The Commissioner of Police, CP Lanre Ogunlowo, PhD, has reaffirmed the Command’s commitment to ridding the area of criminal activities, and further strengthening security in that area he has reinforced Tactical operatives to remain stationed at strategic flashpoints, in Arepo and heighten routine patrols to ensure the security of residents and commuters.

The Command urges members of the public, especially medical practitioners, to report any individuals seeking treatment for gunshot wounds. Citizens are also advised to remain vigilant and report suspicious activities to the nearest police station.

Analyst Predict Fidelity to meet Recaptalization Threshold ahead Regulatory Deadline

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blacktalker
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FIDELITY BANK

Fidelity Bank Plc is making impressive strides on its path to fulfilling the recapitalization targets set by the Central Bank of Nigeria (CBN). With a successful first phase of its capital-raising initiative that recorded over 238% over subscription and share price growth of over 100% evidencing a huge surge in investor confidence for the bank.

Following the successful completion of phase 1 of its capital raise, the bank is exceptionally well-positioned to not only meet the regulatory threshold strengthen but also fuel its growth trajectory.

With the recent conclusion of its equity capital raise through a Public Offer and Rights Issue, collectively known as the Combined Offer. The response has been nothing short of extraordinary, with the Public Offer oversubscribed by an astounding 237.92%. This translates to 107,588 valid applications for a total of 23,768,724,000 ordinary shares, amounting to 231.7 billion Naira. The Rights Issue also shone brightly, achieving a remarkable 137.73% subscription rate with 6,903 valid applications for 4,407,252,795 ordinary shares, totaling 40.7 billion Naira.

The Managing Director and CEO of Fidelity Bank, Dr. Nneka Onyeali-Ikpe expressed heartfelt gratitude for the overwhelming support from investors, stating, “The positive results recorded in our Combined Offer are a testament to the strength of the Fidelity Bank franchise in the capital market.” Such a robust response not only underscores investor confidence but also reaffirms the bank’s unwavering commitment to delivering innovative financial solutions and sustainable returns to its stakeholders.

Following this remarkable success, Fidelity Bank has secured shareholder approval to launch the second phase of its capital-raising initiatives. This includes a significant increase in the bank’s issued share capital from 26.7 billion Naira to 36.7 billion Naira. Shareholders endorsed this expansion during an Extraordinary General Meeting on February 6, 2025, approving the creation of an additional 20 billion ordinary shares of ₦0.50 each.

This strategic capital boost positions Fidelity Bank to meet the CBN’s new minimum regulatory capital requirement of 500 billion Naira for banks with international authorization by March 31, 2026. This ambitious goal aligns seamlessly with the bank’s vision for sustainable growth and exceptional service delivery, setting the stage for a dynamic future.

Fidelity Bank’s stock performance has further solidified its status as a top contender in the financial sector. From an initial offer price of 9.75 Naira per share during the Public Offer, shares soared to a high of 21.15 Naira on February 7, 2025, representing an impressive growth rate of over 116%. This positions Fidelity Bank as one of the best-performing financial institutions in the market, with analysts from Apel Asset Limited noting an impressive 80% return on investment for shareholders who have held shares since 2023.

Market analysts project a considerable upside potential of 28.88%, establishing a fair value of Fidelity Bank at 23.15 Naira against a reference price of 19.50 Naira. Such promising indicators not only enhance investor confidence but also position Fidelity Bank as a compelling investment opportunity within the Nigerian banking landscape.

The funds raised from the initial phases of the capital-raising exercises are earmarked for several key initiatives. Fidelity Bank plans to utilize these resources for local and international business expansion, enhancing technology infrastructure, and improving customer service initiatives. This proactive approach showcases the bank’s commitment to innovation and operational excellence.

As the bank gears up for the next phase of its capital-raising initiative, the primary focus remains on achieving its recapitalization targets while consistently delivering value to stakeholders. The bank’s leadership is confident that, with sustained investor support and a robust financial strategy, it will adeptly navigate the evolving landscape of the Nigerian banking sector.

Fidelity Bank’s recent achievements in capital raising signal a pivotal moment in its journey toward strengthening its financial foundation. With robust investor backing, strategic capital allocation, and a clear vision for growth, Fidelity Bank is not just on track to meet its recapitalization target—it is poised to exceed it.

The road ahead promises to be one of sustained growth and innovation, reinforcing Fidelity Bank’s position as a leader in the Nigerian financial sector. As the bank looks toward the future, it remains steadfast in its commitment to fostering strong relationships with investors and delivering on its promise of financial excellence and exceptional customer satisfaction.

Fidelity Bank’s proactive measures and impressive market performance pave the way for a brighter, more prosperous future—one where it continues to lead with integrity and vision in the ever-evolving financial landscape.

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