Fidelity Bank, CIBN collaborate on job creation

Fidelity Bank Plc has strengthened its strategic collaboration with the Chartered Institute of Bankers of Nigeria (CIBN) to create more jobs in the industry. This is after exceeding the N500 billion minimum capital requirement set under the ongoing banking sector recapitalisation programme.

The lender’s capital base rose from N305 billion to N564 billion as of December 31, 2025, following the successful completion of a private placement exercise.

The new capital injection, currently undergoing verification by the Central Bank of Nigeria (CBN), places Fidelity Bank above the N500 billion thresholds required for banks with international authorisation, reinforcing its Tier 1 status within the industry.

Speaking during a courtesy visit to the CIBN headquarters in Lagos, Chairman, Fidelity Bank Plc, Mrs. Amaka Onwughalu, described the milestone as both a regulatory achievement and a platform for deeper industry collaboration.

She noted that recapitalisation must be complemented by strong governance, talent development and ethical standards to ensure long-term sector stability.

“The CIBN has remained instrumental in providing a framework for admission into the banking profession and ensuring adherence to ethical standards. It also serves as a critical platform for engagement on topical issues affecting the banking ecosystem,” Onwughalu said.

She added that the Institute continues to shape minimum standards of knowledge and competence within Nigeria’s banking industry, while supporting policy dialogue and financial inclusion initiatives that connect financial institutions, regulators and customers.

Beyond capital strength, Onwughalu highlighted the bank’s operational scale, disclosing that Fidelity Bank serves over 10 million customers through 255 branches nationwide. Its domestic operations are complemented by digital banking platforms and its United Kingdom subsidiary, FidBank UK Limited, positioning the lender to support cross-border transactions and diaspora banking services.

“We want to assure the CIBN of our continued commitment to strengthening this strategic partnership while advancing our mutual objectives in capacity building, financial inclusion, technology-driven growth, and embedding a strong culture of ethics and professionalism within the banking industry,” she said.

She reiterated that Fidelity Bank, as a longstanding corporate member of the Institute, will continue to collaborate on initiatives aimed at enhancing industry resilience and sustainable economic growth. “We look forward to opportunities for deeper collaboration as we jointly drive economic growth through constructive policy engagement and professional capacity development within the financial services sector,” Onwughalu stated.

In his response, Chairman, CIBN Council, Prof. Pius Deji Olanrewaju, emphasised that capital adequacy alone would not guarantee systemic stability without deliberate investments in human capital and corporate governance.

He observed that the banking sector, a major driver of financial intermediation and private sector credit, is contending with workforce pressures linked to migration trends popularly described as the “Japa” phenomenon.

“The Institute has strategically intervened in industry-related issues, particularly the talent flight challenge, with the introduction of the Human Capital Retention Fund. This initiative is designed to ensure that the banking industry maintains a pool of agile, competent and market-ready professionals capable of filling critical skills gaps across institutions,” Olanrewaju said.

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He disclosed that the proposed Banking School project, expected to commence soon, will provide structured capacity development for entry-level and mid-career professionals, helping financial institutions lower onboarding costs while improving productivity and ethical compliance.

According to him, the Institute has strengthened its standards-setting role through accreditation of bank academies and Educational Training Service Providers, alongside the implementation of a Mandatory Annual Ethics Certification for all bank employees. “In addition, our Alternate Dispute Resolution mechanism continues to enhance consumer protection by serving as an ombudsman for the industry.We are also increasing our focus on Generation Next initiatives to build a sustainable pipeline of future professionals for the sector,” Olanrewaju stated.

He commended Fidelity Bank for maintaining strong corporate governance structures, expanding its digital banking platforms and deepening access to finance for small and medium enterprises, aligning with national financial inclusion objectives and broader sustainable development priorities.

Olanrewaju further disclosed that the Institute is seeking the bank’s support in hosting an industry-wide programme to mark the Annual Ethics and Professionalism Day scheduled for December 4, as part of efforts to reinforce integrity across the financial services ecosystem.

“We believe that collaboration between the Institute and Fidelity Bank in promoting governance, professionalism and industry standards will significantly enhance public confidence in the banking system,” he said.

He also appealed for institutional backing toward the remodelling of the Centre for Financial Studies at Bankers House, noting that the proposed endowment would strengthen research, executive education and policy advocacy within the sector.

Reaffirming the Institute’s commitment to advancing competency standards and sustainable growth, Olanrewaju confirmed that Mrs. Onwughalu will serve as Special Guest of Honour at the 2026 Stream I Chartered Banker Induction Programme scheduled for March 14, 2026, underscoring the deepening institutional ties between both organisations.