On July 18, 2025, the Asset Management Corporation of Nigeria (AMCON) offered about 1.14 billion Fidelity Bank shares, roughly 2.3 per cent of the financial institution. The purchaser was described solely as a outstanding Niger Delta oil and fuel safety businessman. Then capital market sources began speculating that the customer is High Chief Government Ekpemupolo, often known as Tompolo, who chairs Tantita Security Services Nigeria Limited. If studies are to be believed, he has continued to purchase and now leads the shareholder register.
In current occasions, new studies emerged that Tompolo needs a say in who succeeds Dr Nneka Onyeali-Ikpe, the Managing Director since January 2021. Her tenure ends on December 31, 2026. This is how Peter Obi, former Anambra State governor, comes into the image. Obi was a pioneer main shareholder at Fidelity. In truth, he grew to become the financial institution’s chairman in 1994. He at all times says that he doesn’t personal it, that his board seat is knowledgeable responsibility. But the paperwork go away little room between the 2 males.
Fidelity’s 2025 annual report counted 525,912 shareholders and 50.2 billion shares at December 31, 2025, and stated none held as much as 5 per cent. With the July sale falling earlier than that date, and with the financial institution calling the takeover story unsupported, individuals are left scratching their heads.
The claims about Obi meet the identical problem. Reports on platforms corresponding to SaharaReporters say he secretly holds as much as 29.5 per cent by proxies, almost six occasions that 5 per cent ceiling. Unnamed shareholders have made comparable claims in different studies.
Those who see a contest have causes. Obi is making ready a 2027 presidential run underneath the Nigeria Democratic Congress, and a chief govt’s exit is a call any massive shareholder would need to affect. Rivals additionally allege that the financial institution’s constructions are getting used to pool funds for him. The financial institution rejects that declare and says it’s indifferent from partisan politics.
Essentially, it’s all very attention-grabbing. Who would have thought that Obi would ever be affixed to the identical desk as Tompolo, being of—some would possibly say—reverse tendencies. Still, maybe the identification of the particular person the board places ahead to succeed Onyeali-Ikpe will make issues a bit clearer.
