In a significant off-market transaction on Friday, a total of 1,140,866,892 units of Fidelity Bank Plc shares were exchanged across nine negotiated deals, stirring notable interest in the capital market.

However, no official filing has yet been made with the Nigerian Exchange, according to Nairameteics.

According to market sources, Apel Asset Management Ltd acted as the seller, while CardinalStone Securities Ltd and Apel Asset Management Ltd were listed as buyers in the transaction.

Although official details remain undisclosed, the scale of the trade has sparked speculation about potential strategic moves or a shift in ownership within the tier-2 bank.

Before now, Fidelity Bank has maintained a dominant presence on the Nigerian Exchange in recent months.

Between April 11 and July 17, 2025, it emerged as the most traded stock on the NGX, with a total of 4.01 billion shares exchanged across 41,535 deals, amounting to a turnover of ₦77.8 billion.

Despite the large off-market activity, Fidelity Bank’s share price closed at ₦21.10 per share, down 2.1% from the previous day’s close of ₦21.55.

Still, the stock remains strong on a year-to-date basis, recording a 20.6% gain in 2025 so far.

Investors and analysts now await formal clarification from either Fidelity Bank or the NGX to better understand the implications of the transaction.