Fidelity Bank repays $400m Eurobond after five years

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Fidelity Bank Plc has repaid its $400m Eurobond at maturity after five years, with the repayment reportedly financed entirely from the bank’s internal liquidity resources.

The development was disclosed in a statement issued on Sunday by the Chairman and Chief Executive Officer of Air Peace, Allen Onyema, who congratulated the bank on meeting its debt obligations.

Onyema described the repayment as a demonstration of the bank’s financial strength and ability to manage its obligations without relying on external funding for the settlement.

In a congratulatory message issued on behalf of the board, management and staff of Air Peace, he commended Fidelity Bank for meeting its obligations throughout the five-year tenure of the Eurobond, particularly its decision to fund the repayment entirely from internal liquidity.

The repayment marks the settlement of the bank’s $400m international debt obligation at maturity, following a five-year borrowing period.

The statement read, “The Chairman and Chief Executive Officer of Air Peace, West and Central Africa’s largest airline, Dr Allen Onyema, has congratulated Fidelity Bank Plc on the successful repayment of its $400m Eurobond at maturity, describing the achievement as a remarkable demonstration of financial strength, institutional discipline and visionary leadership.

“In a congratulatory message issued on behalf of the Board, Management and Staff of Air Peace Limited, Onyema commended the Bank for meeting its obligations throughout the five-year tenure of the Eurobond, particularly its decision to fund the repayment entirely from internal liquidity.”

Eurobonds are debt instruments issued in international capital markets, allowing institutions to raise foreign-currency funding from investors outside their domestic markets.

For Nigerian banks, such instruments provide access to international financing but also create foreign-currency repayment obligations that must be managed alongside domestic liquidity requirements.

Onyema attributed the development to the leadership of Fidelity Bank’s Managing Director and Chief Executive Officer, Nneka Onyeali-Ikpe, whom he credited with strengthening the institution’s financial position.

He also congratulated the bank on completing its recapitalisation ahead of the deadline stipulated by the Central Bank of Nigeria.

According to him, the two developments reflected the importance of corporate governance, financial planning and disciplined management in sustaining confidence in the banking sector.

The Air Peace chairman further highlighted the relationship between financially stable banks and the growth of capital-intensive industries, particularly aviation.

He explained that airline operations require substantial investment in aircraft acquisition, fleet expansion, maintenance and other operational infrastructure, making access to reliable financing essential.

Onyema maintained that strong financial institutions were necessary to support indigenous businesses seeking to expand their operations and compete effectively.

He also emphasised the importance of partnerships between banks and domestic enterprises in strengthening Nigeria’s economic competitiveness and supporting long-term investment.

The Air Peace chairman expressed confidence in Fidelity Bank’s capacity to sustain its financial performance and achieve further milestones under its current leadership.

He congratulated Onyeali-Ikpe, the bank’s board, management and employees, while reaffirming Air Peace’s goodwill towards the institution.

Sami Tunji is a Senior Business Correspondent at Punch Newspapers with about five years of experience in data-driven reporting. He covers finance, ICT, and broader macroeconomic issues, combining analytical insight with clear storytelling. Sami’s work reflects strong editorial judgment, professional development, and a commitment to accurate and informative business journalism.

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