Fidelity Bank Plc has notified the Nigerian Exchange Limited (NGX) of an insider transaction involving Non-Executive Director, Okam Obiaku Augusta, who acquired one million ordinary shares in the bank.
According to a regulatory filing dated June 30, 2026, the share purchase was executed on June 26, 2026, in Lagos.
The disclosure showed that the director purchased 456,791 shares at ₦18.30 per share and an additional 543,209 shares at ₦18.20 per share, bringing the total acquisition to 1,000,000 ordinary shares at an average price of ₦18.25 per share.
Based on the average acquisition price, the transaction is valued at approximately ₦18.25 million.
The notification, signed by Company Secretary Ezinwa Unuigboje, was made in compliance with the Nigerian Exchange’s post-listing requirements, which require directors and other insiders to disclose dealings in the securities of listed companies.
Insider share purchases are closely monitored by investors because they may reflect management’s confidence in a company’s long-term strategy and future performance.
While such transactions do not guarantee future share price appreciation, they are often viewed as a positive signal, particularly when directors increase their personal investment in the business.
Fidelity Bank has continued to strengthen its position within Nigeria’s banking sector, with investors closely tracking insider dealings, earnings performance and strategic initiatives as indicators of the lender’s growth trajectory.
