Fidelity Bank Plc said it has raised the required minimum share capital for lenders with international authorisation, boosting its capital base as Nigerian lenders race to comply with tougher regulatory requirements scheduled to end by March 2026.

Nneka Onyeali-Ikpe, GMD, Fidelity Bank

The push-up in its eligible capital, raised through a private placement, effectively placed Fidelity Bank among lenders that have successfully scaled through the regulatory mandate.

The Lagos-based bank, in a disclosure on the Nigerian Exchange on Tuesday, said the offer, which opened and closed on December 31, 2025, was approved by the Central Bank of Nigeria and the Securities and Exchange Commission. Proceeds from the transaction lift Fidelity’s eligible capital to about N564.5 billion from N305.5 billion, subject to final regulatory approvals.

The private placement was carried out under a mandate granted by shareholders at an extraordinary general meeting on February 6, 2025, authorising the bank to issue up to 20 billion ordinary shares.

Fidelity did not disclose the pricing or investor mix for the transaction.

The fundraising caps an aggressive capital-raising drive by Fidelity over the past two years. In 2024, the lender raised N175.85 billion through a public offer and rights issue, which brought its eligible capital to N305.5 billion. That left a shortfall of about N194.5 billion relative to the new minimum capital threshold.

Nigeria’s central bank in 2024 announced a sweeping recapitalisation programme aimed at strengthening the banking system, raising the minimum capital for commercial banks with international authorisation to N500 billion.

The apex bank mandated an increment in capital for national banks, pushing it to N200 billion and N50 billion for regional banks. The 24‑month compliance window ends on March 31, 2026, a regulation that’s triggering a wave of equity issuances, merger talks, and balance-sheet restructuring across the sector.

Fidelity’s latest capital raise places it above the regulatory floor, potentially easing pressure on the bank as peers continue to tap markets. The additional capital is also expected to support balance-sheet expansion, larger ticket lending, and resilience against macroeconomic shocks in Africa’s fourth-largest economy, which has been grappling with currency volatility, double-digit inflation, and elevated interest rates.

Analysts stated the scale and speed of this transaction validate Fidelity Bank’s standing among tier‑one lenders. Recently, Fitch Ratings affirmed the bank’s Long‑Term Issuer Default Rating at ‘B’ and upgraded its National Long‑Term Rating to ‘A+(nga)’, citing stronger capital buffers and improved profitability.

Fitch also recognised the bank’s expanding franchise, sound fundamentals, and healthy foreign‑currency liquidity, noting it was Nigeria’s sixth‑largest lender by assets at the end of 2024.

Kuda Microfinance Bank has unveiled the 2025 edition of “My Year on Kuda,” its annual recap providing customers with personalised insights into their spending, saving, and money management habits from the previous year.

Kuda Microfinance Bank

The tool analyses transaction data across categories like transfers, card payments, online purchases, and bills, revealing patterns such as highest-spending months, biggest payments, saving frequency, and savings from Kuda’s 25 free monthly transfers. Customers can compare 2025 activity against 2024, including income versus expenditure.

In an era of inflation and economic uncertainty, the recap promotes financial literacy by highlighting responsible borrowing via Kuda Overdraft usage, including access frequency, amounts borrowed, and repayment patterns.

Customer-shared screenshots on X reflect national trends: Nigeria recorded over 2.2 billion electronic transactions worth ₦285 trillion in Q1 2025, up 20 percent year-on-year, with POS terminals driving the shift to cashless commerce.

Kuda Group CEO Babs Ogundeyi, in the recap’s opening video, urged users: “Before you carry on with January, this is the perfect time to see everything you did with your money on Kuda last year and learn something.”

The feature underscores Kuda’s focus on actionable insights to help Nigerians navigate evolving personal finance amid shifting earning and spending behaviours.

Wema Bank has introduced SAW, a new AI voice assistant integrated into the ALAT 2.0 app, allowing customers to manage finances through natural voice commands similar to Siri, Bixby, or Alexa.

Wema Bank

SAW understands everyday language and delivers instant responses tailored to banking needs, such as checking account balances, transferring money, reviewing transactions, and accessing support.

This feature brings conversational banking to Nigerian users, eliminating complexity and enhancing accessibility.

The bank positions SAW as a pioneer in AI-powered financial services, aligning with global trends where millions interact daily with voice assistants for tasks like setting reminders or playing music.

ALAT 2.0 represents the next evolution in digital banking, making services more efficient, personal, and human-like for everyday Nigerians.