Fidelity Bank Plc continues to shine as a beacon of strength, reliability, and resilience in Nigeria’s dynamic banking industry.

With a track record of delivering outstanding performance and exceeding expectations, the bank has further cemented its place among the country’s most trusted financial institutions.

In its recently released Audited Financial Statements for the 2024 financial year, Fidelity Bank posted an extraordinary 210% growth in Profit Before Tax (PBT) to ₦385.2 billion, while Profit After Tax surged by 179.6% to ₦278.1 billion. These record-breaking numbers reflect not only impressive growth but a deep-rooted commitment to excellence, even in the face of economic headwinds.

This performance is no fluke. It is backed by deliberate strategy, solid capital structure, and prudent management.

Following its oversubscribed capital raise of ₦175.9 billion in 2024, Fidelity’s Capital Adequacy Ratio (CAR) now stands at a strong 23.5%, giving it more than enough headroom to continue supporting large-scale projects, expanding services, and delivering superior shareholder returns.

Its stock market capitalization has returned to over ₦1 trillion, driven by renewed investor confidence and a 141% share price growth over the past year.

What truly sets Fidelity Bank apart, however, is the solidity of its operations and the quality of service it delivers. From individuals and SMEs to large corporates and government institutions, customers are guaranteed safe, seamless, and efficient banking experiences across every touchpoint.

At the core of Fidelity’s operations is a robust digital banking infrastructure that continues to evolve to meet the needs of a modern, fast-paced economy. Its award-winning Fidelity Mobile App and internet banking platforms offer secure, user-friendly, and feature-rich solutions for customers on the go. With innovations in real-time payments, digital lending, automated investment services, and 24/7 customer support, the bank is redefining convenience and pushing the boundaries of what banking should be.

This digital prowess was recognized with multiple awards in 2024, including “Most Innovative Mobile Banking Application” by Global Business Outlook and “Excellence in Digital Transformation” by BusinessDay BAFI Awards.

Fidelity Bank’s ability to adapt, innovate, and empower is equally evident in its commitment to the MSME sector, which remains the backbone of the Nigerian economy. Through strategic partnerships like the one with SMEDAN, the bank is driving inclusive growth by providing low-interest funding, capacity building, and market access to small businesses across Nigeria and beyond.

With over 9.1 million customers, 255 business offices, and a growing presence in the United Kingdom through FidBank UK Limited, Fidelity Bank is not just keeping pace—it is setting the pace.

As the bank continues to expand its services, scale up its technology, and deepen its market presence, one thing remains clear: Fidelity Bank is built on a solid foundation, powered by visionary leadership, and driven by a commitment to excellence.

In a world where trust, performance, and innovation are everything, Fidelity Bank is the institution that continues to stand tall, serve exceptionally, and soar higher—today, tomorrow, and into the future.

A civil society organisation, Alliance for Public Asset Protection and Accountability (APAPA), has petitioned the National Assembly over what it described as a “coordinated and deliberate scheme” to strip the country’s railway system of valuable assets under the guise of scrap sales.

In a detailed petition submitted to Senate and the House of Representatives, the group accused the Minister of Transport, Sa’idu Ahmed Alkali, of conniving with officials of the Railway Property Management Company Limited (RPMCL) and handpicked consultants to unlawfully dispose of railway assets worth billions of naira without proper accountability.

The petition, signed by its president, Dr. Aminu Garba, described the activities of the ministry as a “brazen betrayal of public trust” and called for the immediate sack of the minister.

“We have credible intelligence that the Minister of Transport, in collusion with officials of the Railway Property Management Company Limited (RPMCL), has engaged private consultants to dispose of critical railway infrastructure without transparency or accountability,” the petition reads.

“These so-called consultants are not known to the public service. They were handpicked without competitive bidding, and their sole mission is to oversee the hurried sales of functioning railway equipment labelled falsely as scrap.

“Some of the locomotives and signalling systems being sold were acquired less than a decade ago and are still in good condition. These are not outdated machines — they are valuable assets.

“The buyers are mostly Chinese firms who, in collaboration with insiders, acquire these items at rock-bottom prices and ship them abroad. The Nigerian people gain nothing from these transactions.”

The group alleged that since Alkali’s appointment, the railway sector has recorded no meaningful progress. On the contrary, it said trains frequently break down in remote and dangerous locations, leaving passengers stranded and exposed to security threats.

“Instead of consolidating on the gains recorded under the Muhammadu Buhari administration, particularly in railway modernisation and safety, the current leadership of the Ministry of Transport is singularly focused on self-enrichment and clandestine deals at the expense of national development,” the group noted.

“In the last one year, the rail sector has regressed significantly. Trains now break down mid-journey in the middle of nowhere. There are no new coaches. No investment in safety. No innovation. Only secret asset sales and dubious scrap deals.”

The civic group further alleged that locomotives, steel tracks, signalling equipment, and other high-value railway infrastructure were being sold as scraps to Chinese companies and other private entities without due process or remittance of proceeds into government coffers.

“We find it disturbing that there is no visible reinvestment of proceeds from these so-called scrap sales. The Ministry has failed to provide any financial records showing inflows to the government purse,” the group added.

“Instead of improving rail safety and efficiency, the current administration of the Transport Ministry has made rail travel more dangerous and unreliable. The few trains in operation are poorly maintained and frequently stranded.

“We therefore demand the immediate sack of Minister Sa’idu Ahmed Alkali and a full public inquiry into the activities of the Railway Property Management Company Limited and the consultants involved in these suspicious transactions.”

The group also accused the minister of ignoring existing policies and bypassing the Bureau of Public Procurement (BPP) and Infrastructure Concession Regulatory Commission (ICRC), both of which are statutory agencies responsible for asset disposal and infrastructure concessions.

“This government cannot afford to look the other way while national assets are looted in broad daylight,” Dr. Garba stated.

In a message directed to the leadership of the Senate and House of Representatives, the group urged lawmakers to act swiftly to salvage what is left of Nigeria’s railway sector before it is stripped bare.

The CSO warned that it would mobilise civil society and initiate a nationwide campaign to expose the alleged rot if no action was taken within 30 days.

Abeokuta — As part of its ongoing commitment to youth and sports development, the Matico Sports Foundation has announced an initiative to reward Ogun State athletes who finish among the top three in their events with instant cash prizes during the Gateway Games 2024.

The founder of the foundation, Mr. Oluwaṣeun Adebowale, commended the Ogun State Government, led by His Excellency, Prince Dr. Dapọ Abiodun, CON, for the successful hosting of the national sports festival. He noted that the foundation established with the core mission of empowering young talents through sports finds it especially important to support local athletes now that the festival is being held in Ogun State.

In his words, “As someone who has consistently supported and encouraged young talents in sports, I believe it’s only right to do even more now that my home state is hosting the games. Our athletes deserve motivation, and we are prepared to reward excellence instantly.”

The Matico Sports Foundation team will be present at various venues across the state including M.K.O.Sporting Complex , Alake Sports Centre, Ijebu-Ode, Ilishan, and others to present cash gifts to Ogun State athletes who secure podium finishes.

This initiative aligns with the vision of the Ogun State Government to promote sports as a tool for youth engagement and community development.

Mr. Adebowale further urged all Ogun State athletes to rise to the occasion and give their best, reminding them that their performance is not only a personal achievement but also a source of pride for the entire state.

God bless the Federal Republic of Nigeria.
God bless Ogun State.
God bless Obafemi Owode Local Government.

Oluwaseun Adebowale “MATICO” hails from Ajura Ward 04 in Obafemi Owode Local Government Area of Ogun State.

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