Fidelity Bankrecorded a 45.6 per cent surge in revenue for last year, compared to 2024, as the financial institution witnessed reasonable growth across its key income streams.
The lender posted gross earnings of N1.5 trillion in the period, up from N1 trillion, according to its newly released audited financial results for the period, taking turnover to its highest level on record.
Nevertheless, net profit for the year under review slid by 12.8 per cent to N242.4 billion from N278.1 billion amid soaring costs.
One of the major pressure points was the N223.8 billion the lender incurred as derivative losses, which contrasts with the derivative gains of N57.9 billion reported a year earlier.
Likewise, other operating expenses jumped 38.2 per cent to N335.3 billion, driven by marketing, communication & entertainment spending as well as banking sector resolution cost.
Last month, Fidelity Bank announced the result of its private placement, held on 31 December 2025, where it raised N227 billion made up of 12.98 billion shares. Earlier in 2024, it had raised N175.9 billion by way of public offer and rights issue on its way to meeting new recapitalisation requirements for the Nigerian banking industry.
The bank, which serves over ten million customers in Nigeria and the UK, holds an international banking licence.
Net interest income, a key performance metric which measures the difference between what a financial institution earns from interest-bearing assets and the interest it pays to depositors and creditors, rose by almost one third to N831.4 billion.
The lender set apart N21.6 billion as provision for credit loss, which compares to the N56.4 billion it allocated for the same purpose a year earlier.
Fee and other commission income was up by 44.7 per cent at N113.4 billion, driven by increased ATM charges, while foreign currency revaluation gains expanded to N99.6 billion from N11.7 billion.
Profit before tax dropped to N347.7 billion from N385.2 billion. Fidelity Bank stated elsewhere in the financial report that the board of directors has not proposed any dividend for the year under review.
BY SUNDAY SAMUEL—The Ondo State Police Command under the proactive leadership of CP Felix Ohagwu psc, mnips, mspsp has successfully foiled two separate kidnap attempts in Owo Local Government Area of the State, rescuing all victims involved and forcing the fleeing criminals to abandon their mission following swift and coordinated security operations.
The incidents, which occurred within a few hours of each other on Sunday, 21st June, 2026, underscore the Command’s proactive operational readiness and the effectiveness of ongoing efforts aimed at combating kidnapping and other violent crimes across the State.
The first incident occurred at about 7:05 p.m. when the Police received a distress call indicating that a six-man armed kidnapping gang had stormed the residence of Pastor Taiwo Taiwo, Chairman of Ojana New Area, Owo, with the intention of abducting him. Acting promptly on the information, the Divisional Police Officer, B Division, Owo, mobilized and led a patrol team to the scene.
Upon arrival, the operatives encountered the armed assailants, leading to an exchange of gunfire. The superior tactical response and determination of the Police operatives forced the criminals to retreat into the surrounding bush, abandoning their plan. The intended victim and his family members were successfully rescued unharmed and subsequently relocated to a safer location for enhanced security and protection.
In a related development later that same night, at about 11:10 p.m., another armed gang attacked one Daniel Ologun, a 39-year-old resident of Gbegun Community along Alhaja Camp, off Housing Estate, Owo. During the attack, the victim sustained a gunshot wound to his left leg while the assailants forcefully took his wife, Mrs. Taibat Ologun, aged 34 years, and their two young children, aged four and two years respectively, into the bush.
Upon receiving information about the incident, the Police immediately launched a rescue operation. The rapid deployment of operatives and sustained pressure mounted on the fleeing kidnappers disrupted their movement and compelled them to abandon the Mr Daniel Ologun. In a coordinated search-and-rescue effort involving the Police and personnel of the Nigerian Army, Mrs. Ologun and her two children were later successfully rescued unhurt from the assailants who escaped with gunshot injurieat about 1:50 a.m.
The injured victim was promptly taken to the Federal Medical Centre (FMC), Owo, where he is currently receiving medical attention and responding positively to treatment.
Meanwhile, joint security teams comprising Police operatives and military personnel have intensified bush-combing operations in the affected areas and adjoining forests with a view to apprehending the fleeing suspects and dismantling any criminal hideouts within the axis. Efforts are ongoing to track down all members of the criminal gangs involved in the attacks and bring them to justice.
CP Felix Ohagwu, psc, mnips, mspsp, has directed that the rescued victims be immediately debriefed to obtain additional information that may assist ongoing investigations and intelligence-gathering efforts aimed at identifying and apprehending the fleeing suspects. Afterwhich all rescued victims be reunited with their families while ensuring that necessary security measures are put in place for their continued safety and well-being.
The CP commends the bravery and swift response of the operatives involved in both operations, as well as the support of the Nigerian Army and members of the public who provided timely information that aided the successful rescue missions.
Energy company Aradel Holdings saw its net profit for 2025 increase by 192.3 per cent, compared to what it reported a year earlier, according to its latest audited report, taking its profit after tax to the peak level ever.
The remarkable improvement rested on the ₦393.2 billion translation gain it earned from the business combination it executed last year after acquiring a majority stake in ND Western, an oil drilling firm in which it previously held a non-controlling interest.
Towards the end of 2025, Aradel procured a 40 per cent stake in ND Western in a transaction that took its shareholding in the entity to 81.7 per cent.
The deal involving ND Western, being one of the companies under Renaissance Energy Holdings, raised Aradel’s stake in the latter from 33.3 per cent to 53.3 per cent, making it its majority owner.
Revenue for the period under review grew by 20.4 per cent to ₦699.4 billion, driven by crude oil exports and the sale of refined products.
Operating profit, which was up by 151.7 per cent, derived strength from the ₦217.1 billion earned as a bargain purchase from acquiring the additional stake in ND Western at a cheaper amount than its fair market value.
Share of profit from associate company stood at ₦109.5 billion, compared to ₦31.6 billion a year ago.
However, the company incurred ₦106.3 billion in fair value loss on step acquisition as a result of legacy expenses in respect of the write-down of a carrying amount from the ND Western asset acquisition.
Profit before taxation climbed by 163.6 per cent, while profit after tax jumped to ₦757.3 billion from ₦259.1 billion.
“Our focus in 2026 is on consolidating our expanded portfolio to enhance operational scale, improve efficiency across our assets, increase production and further diversify our revenue base anchored on our long-term ambition to grow the Group’s production to support sustainable, long-term shareholder value,” Adegbite Falade, the CEO, said.
“Reflecting the strength of our performance and confidence in our outlook, the board is pleased to propose a final dividend of ₦23.0 (US$0.016) per share, taking the total 2025 distribution to ₦33.0 (US$0.024),” he added.
The ₦33 total dividend per share is 10 per cent higher than that of 2024 and is equivalent to a potential payout of ₦143.4 billion.