Fidelity Bank Strengthens Capital, Prepares for Major Expansion
Fidelity Bank Plc has completed a successful recapitalisation exercise, positioning itself for significant growth and expansion in Nigeria’s banking sector. The bank’s recapitalisation, launched in March 2024, has been described as one of the most successful and least disruptive in the history of Nigeria’s banking industry, reflecting strong investor confidence. Fidelity Bank combined a public […]
EFCC Arrests Firm Representative Over Alleged N993m Fraud
The Economic and Financial Crimes Commission (EFCC) has arrested a company representative, Kofoworola Motunrayo Kolawole, over an alleged fraud involving N993.2 million linked to a failed foreign exchange transaction. Kolawole, 37, a native of Ondo State, was taken into custody by the commission’s Ilorin Zonal Directorate after initially failing to honour several invitations. She later […]
CBN Capital Rules Reshape Nigerian Banking Sector
Nigeria’s banking sector is undergoing one of its most significant reforms in decades following new capital requirements introduced by the Central Bank of Nigeria (CBN). In March 2024, the CBN announced revised minimum capital thresholds for banks, directing lenders to raise additional funds by March 31, 2026. The policy is aimed at creating stronger, better-capitalised […]
