News
Fidelity bank records N76.3b PBT for H1 2023
Lagos, Nigeria, September 3, 2023: Leading financial institution, Fidelity Bank Plc has recorded an impressive 204.4% growth in Profit Before Tax for the first half of 2023 to N76.3bn according to the bank’s recently issued financial result.
A review of the results published on the Nigerian Exchange Group (NGX) on Friday, 1 September 2023, showed a positive performance across all financial indices, reaffirming the Bank’s position as one of the fastest growing and well-managed financial institutions in Nigeria. Gross earnings for the period grew by 59.6% to ₦247.1billion from ₦154.8billion reported in June 2022. Profit After tax stood at ₦61.9billion representing a growth of 166.0% over ₦23.3billion recorded in the corresponding period. This translates to an Earning per Share of 194kobo. The Bank’s Net Loans & Advances grew by 25.1% from ₦2.1trillion recorded as of December 2022 to ₦2.6trillion in June 2023 with corresponding growth in Customer Deposits which increased by 23.2% to ₦3.2trillion from ₦2.6trillion in December 2022.
The Bank’s balance sheet remained strong with a 27.4% growth in Total Assets from ₦3.9trillion in December 2022 to ₦5.1trillion. The Bank’s non-performing loans remained low and within regulatory threshold at 3.24% with adequate coverage of 111%. Return on Equity (ROE) and Return on Assets (ROA) closed at 34.9% and 2.8% respectively.
On the back of the strong H1 2023 performance, the board of the bank approved an interim dividend of 25k per share making it the second consecutive year the bank would be paying interim dividends and another demonstration of its capacity to provide shareholders with sustainable value.
Commenting on the Bank’s laudable performance, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc noted, “We are pleased to report on another period of quality growth across all financial and non-financial indices. Our performance during the first half of the year reflects the resilience of our bank and the fundamental strength of our business to deliver long-term sustainable value at a time that has been characterized by global economic headwinds. As a bank, we remain committed to our goal of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper.
The Bank’s impressive H1 2023 results come to join a string of recent achievements by Fidelity Bank. It would be recalled that the Bank’s stock was reclassified from small-price stock to medium-price stock by the NGX in July 2023 on the back of a consistent impressive performance.
Similarly, the bank recently emerged the company with the highest earnings per share on the NGX based on half year financial figures for the second year running.
To sustain this sterling performance, the bank’s shareholders, at an Extra-Ordinary General Meeting held on 11 August 2023, unanimously approved a capital raising exercise via a Public Offer and Rights Issue.
“We will continue to monitor and pro-actively manage the evolving risks in the economy while ensuring our commitments to our customers and shareholders are fulfilled. The interim dividend of 25kobo per share, a 150% increase compared to the 10kobo interim dividend in 2022FY, attests to the value we place on the unwavering support from our shareholders”, stated Onyeali-Ikpe.
Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 8 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria at the 28th annual Euromoney Awards for Excellence 2023; and the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
News
Breaking: Turaki-led PDP loses at the Supreme Court
The Supreme Court has nullified the national convention of the Peoples Democratic Party (PDP) held in Ibadan, Oyo State, on November 15 and 16, 2025.
The convention had produced a factional national executive of the party led by Tanimu Turaki, SAN.
The apex court’s decision has now affirmed earlier judgments which held that the exercise was conducted in violation of subsisting court orders.
The Ibadan convention had been the subject of prolonged legal disputes before the Supreme Court’s verdict.
A Federal High Court had earlier restrained the PDP from going ahead with the convention, citing alleged breaches of the party’s constitution and failure to comply with due process.
The court also noted unresolved disputes from state congresses and the alleged exclusion of some aspirants from the process.
Despite the order, the convention went ahead, leading to further litigation. The Court of Appeal subsequently upheld the decision of the lower court.
It affirmed that the convention was held in violation of valid judicial pronouncements and that its outcome could not stand.
Dissatisfied with the concurrent judgments, the Turaki-led faction approached the Supreme Court, seeking to overturn the decisions and validate the convention as well as the executives it produced.
The Supreme Court’s decision to void the convention has effectively settled the legal dispute over the legitimacy of the factional leadership that emerged from the exercise.
News
NHRC condemns extrajudicial killing by police in Delta community
….The Commission wants IGP to address use of excessive force by police
The Executive Secretary of the National Human Rights Commission (NHRC), Dr. Tony Ojukwu OFR, SAN, has strongly condemned the alleged extrajudicial killing of a 28-year-old Nigerian, Mene Ogidi, by a police officer, ASP Nuhu Usman, on April 26, 2026, in Efurun, Uvwie Local Government Area of Delta State.
In a statement issued in Abuja, Dr. Ojukwu described the incident as “deeply disturbing and a direct assault on human dignity, the Constitution of the Federal Republic of Nigeria, and the rule of law.”
He stressed that no Nigerian should lose their life at the hands of those sworn to protect them, reiterating that every life matters and must be protected.
According to him, “the reported action of the officer involved is condemnable, unacceptable, and completely inconsistent with the principles of justice and a civilized society.”
The statement which was signed by Hajia Fatimah Agwai Mohammed, Director, Corporate Affairs and External Linkages, quoted Ojukwu to have expressed grave concern over the recurring incidents of excessive use of force by law enforcement officers and called on the Nigeria Police Force to take urgent and decisive steps to address the issue.
He specifically urged the police authorities to subject officers deployed on special duties to periodic mental and psychological evaluations to ensure they are fit to carry arms and engage with civilians responsibly.
Dr. Ojukwu further called for the immediate disciplinary action against ASP Nuhu Usman in line with extant laws and police regulations.
He also emphasized the need for the Nigeria Police Force to fully implement the recommendations of the Commission’s Panel on Police Brutality as a necessary step toward meaningful reform and prevention of future violations.
“The Commission demands immediate arrest and a transparent investigation into the incident, dismissal of the officer involved, and swift prosecution in accordance with the law.
We hereby call for adequate compensation and justice for the family of the victim,” he stated.
He warned that justice delayed only deepens public distrust in state institutions and undermines confidence in law enforcement.
The Executive Secretary assured that the NHRC will continue to monitor the case closely and will persist in its advocacy for accountability, justice, and the protection of the fundamental rights of all Nigerians.
“Nigeria must never normalize brutality. Justice must speak louder than silence,” he concluded.
News
Supreme Court to rule on ADC, PDP cases Thursday
The Supreme Court of Nigeria will on Thursday, deliver judgments in two cases involving the leadership crises rocking the African Democratic Congress and the Peoples Democratic Party.
According to information on the official website of the court, the matters, listed under “Political Appeals”, have been added to the cause list for Thursday, April 30, 2026.
While judgment in the ADC matter, marked SC/CV/180/2026, has been fixed for 2 pm, there is no time yet for that if the PDP.
-
News1 year agoSenate to speed up conclusion of Nigeria Forest Security Service Bill
-
News9 months agoThe Many Lies Against Bashir Haske
-
News3 years agoBreaking: Tinubu’s authentic ministerial nominees
-
News3 years ago“Anytime we want to kill terrorists, President would ask us to take permission from France but they were killing our soldiers-” Niger Republic coup leader
-
News3 years ago“I’m leaving the Catholic church because Bishop Onah is oppressing me,” says Okunerere
-
News3 years agoRadio Nigeria’s veteran broadcaster Kelvin Ugwu dies three months after retirement from service
-
News3 years agoDokpesi and the Gazebo Mystique
-
News3 years agoTsunami: Tinubu orders dissolution of managements, boards of MDAs, to sack all Buhari’s political appointees
