Jobs/Appointments
Fidelity Bank Rejigs Board for Next Phase of Growth Trajectory
By Dipo Olowookere
The board of Fidelity Bank Plc has been reorganised as the financial institution prepares for life after its current Managing Director, Mr Nnamdi Okonkwo.
Mr Okonkwo will retire from the company this week and would be succeeded by the current executive director of the bank in charge of its Lagos and Southwest Directorate, Mrs Nneka Onyeali-Ikpe, from Friday, January 1, 2021.
As Mr Okonkwo is handing over to Mrs Onyeali-Ikpe, Fidelity Bank, which wants to meet the targets set for the next phase of its growth trajectory, has shopped for some of the best brains in the financial sector to be on its board.
The lender has carefully selected three persons it believes will make it achieve this goal as non-executive directors and they are Mrs Amaka Theodora Onwughalu, Mr Nelson Chidozie Nweke and Mr Chinedu Eric Okeke.
While the appointments of the first two have been approved by the Central Bank of Nigeria (CBN), the third is yet to be authorised by the banking sector regulator.
Mrs Onwughalu, who has over 30 years’ banking experience, including over 10 years in executive management in various financial institutions, served in executive management positions in different institutions.
She was the former Group Managing Director of legacy Mainstreet Bank Limited where she led the successful execution of seamless integration of the bank with the defunct Skye Bank Plc, where she served as Deputy Managing Director until her retirement in July 2016.
Mrs Onwughalu, who holds a BSc Degree in Economics from the University of Buckingham, an MSc Degree in Corporate Governance from Leeds Metropolitan University, United Kingdom and an MBA from the University of Port Harcourt, is currently the CEO of Blueshield Financial Services Limited.
For Mr Nweke, he had an extensive career in the financial services sector, rising to the position of executive director at legacy Intercontinental Bank Plc. He is an Associate Member of the Chartered Institute of Stockbrokers (CIS) and Chartered Institute of Personnel Management (CIPM).
The appointee, who is the current MD of Neilville Nigeria Limited, was a member of the governing council of Anambra State Investment Promotion and Protection Agency between 2014 and 2018.
He is presently an independent non-executive director of Berger Paints Plc and boasts of BSc. in Political Science and an MSc. in Industrial and Labour Relations, both from the University of Ibadan.
On the part of Mr Okeke, he is the MD of Azura Power West Africa Limited and had a stellar career spanning over 19 years in a succession of blue-chip companies including Guinness Nigeria Plc, Lafarge Africa Plc, Schlumberger Oilfield Services, and General Electric (GE).
The B.Eng. Degree holder in Electronic Engineering from the University of Nigeria, Nsukka (UNN) and an MBA from Imperial College, London has a strong ability to develop and maintain strategic client relationships and deliver quality results under complex conditions.
Meanwhile, Fidelity Bank has announced the retirement of Mrs Aku Odinkemelu, the executive director in charge of Commercial and Consumer Banking, South Directorate, who was appointed to the board on August 4, 2014.
Also, Mr Charles Umolu, Mr Michael Okeke and Mr Alex Ojukwu have retired from the board of the financial institution as non-executive directors.
Jobs/Appointments
UNIZIK Appoints Nicholas Okoye Visiting Senior Lecturer, to Strengthen Digital Assets Education
Nnamdi Azikiwe University (UNIZIK) has appointed veteran investment banker and capital markets expert, Nicholas “Nicky” Okoye, as a Visiting Senior Lecturer in a move aimed at strengthening its capital markets and digital assets curriculum amid the growing global adoption of virtual assets and blockchain-based finance.
The appointment, which takes immediate effect, is expected to deepen the university’s capacity to train enterprise executives, entrepreneurs and policymakers in emerging areas such as cryptocurrencies, stablecoins, Central Bank Digital Currencies (CBDCs), tokenisation of real-world assets and other digital financial innovations.
UNIZIK, which hosts one of Africa’s few dedicated Capital Markets faculties, said the appointment aligns with its strategy of equipping students and professionals with the knowledge and practical skills required to navigate the rapidly evolving financial ecosystem.
The university, in its statement, described the appointment as a significant milestone for the institution.
“Securing someone of Nicky Okoye’s calibre is a game-changer. As global finance evolves, we must equip enterprise executives, entrepreneurs and policymakers with the technical knowledge required to build long-term capital formation strategies. His real-world experience is invaluable.”
Okoye brings decades of experience across global and Nigerian financial institutions. His career includes serving as a Financial Consultant at Merrill Lynch in the United States, Chief Strategy Officer at the Nigerian Exchange Group, and Founding Group Executive Director of Operations and Strategy at Transcorp Group Plc, where he led fundraising initiatives that collectively exceeded $1 billion.
He currently leads the Global Investment Advisory Community (GIAC), a coalition of local and international banks, asset managers and fintech firms working to develop a digital assets ecosystem across Africa and the Caribbean.
Beyond the private sector, Okoye has contributed to public policy, providing advisory support to the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) on capital market regulatory frameworks.
Stakeholders in the financial services sector have welcomed the appointment, expressing optimism that his academic engagement would help build capacity among investors and professionals as Nigeria expands its digital finance ecosystem.
Okoye also holds an honorary Doctor of Business Administration from Enugu State University of Technology, awarded in recognition of his contributions to enterprise development and business excellence.
He previously served on the Presidential Jobs Board and the National Council of Small and Medium Scale Enterprises, where he provided strategic advice on economic development. Between 2014 and 2018, he advised the Nigeria Content Development and Monitoring Board (NCDMB) on Project Triple E, an initiative designed to strengthen indigenous participation in the upstream oil and gas value chain by integrating community-based contractors.
The appointment comes as Nigeria intensifies efforts to establish a robust regulatory framework for digital assets. The Federal Government recently inaugurated a National Virtual Assets Council to coordinate the oversight and regulation of virtual and digital assets in the country.
The council is chaired by the Central Bank of Nigeria, with support from the Securities and Exchange Commission and the Nigeria Revenue Service, as part of broader efforts to promote innovation while ensuring investor protection and financial system stability.
By Modupe Gbadeyanka
The former Governor of Ekiti State, Mr Ayodele Fayose, has been appointed by President Bola Tinubu as the chairman of the Rural Electrification Agency (REA), with immediate effect.
A statement signed by the Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, on Monday night said Mr Tinubu also made 25 other new appointments into 10 federal government agencies and commissions.
Also appointed was Major General Junaid Bindawa as chairman of the National Salary and Wages Commission.
On the board of REA are Mr Ahmadu Abubakar and Engineer Ilyasu Ibrahim Makinta as members and non-executive directors. The incumbent DG of the agency, Abba Abubakar Aliyu, and three executive directors previously appointed make up the remaining board members.
President Tinubu made eight other appointments to the Wages Commission, along with Mr Bindawa. Former member of the House of Representatives from Lagos, Olajumoke Okoya-Thomas, is the new secretary of the commission. Dr Ogbole Ene Lilian, Oladele Olatubosun, and Yakubu Umar Barde, representing Benue, Oyo and Kaduna, were appointed as commissioners.
Dr Mai Adamu Yau, from Borno, Ginika Florence Tor (Enugu), Engineer Lawrence Okoh (Edo) and Bello Morenike Iyabode (Kogi) were appointed as members of the commission.
Tosin Johnson Adeyanju, who was previously appointed as the Executive Secretary of the National Lottery Trust Fund (NLTF), has now been moved to the Revenue Mobilisation and Fiscal Commission as Secretary.
Mr Tinubu also appointed Dr Abuh Mohammed as the DG of the National Population Commission, Dr Akinola Odeyemi as Managing Director of the Nigerian Bulk Electricity Trading (NBET), and Dr Anthony Inalegwu Godwin as chairman/CEO of the Nigeria Atomic Energy Commission. Engineer Julius Oloro, a former council chairman, is the new CEO of the Kwara-based National Centre for Agricultural Mechanisation (NCAM), replacing Dr A.R. Kamal, who died last January.
The President constituted the board of the Fiscal Responsibility Commission, with Dr Abdullahi Maikano Saidu as chairman. Members include Mohammed Asmau, Mohammed Aliyu Makama, Dr Suleiman Gidado, Louis O. Ndukwe, Amaechi Ugwele and Olaniyi Idowu Onikola.
Shuni Muhammad Dahiru is the new executive secretary of the National Commission for Mass Literacy, Adult and Non-Formal Education, replacing Professor Shu’aibu Shehu Aliyu, who was reassigned to the Petroleum Trust Development Fund (PTDF) in April.
To replace Mathias Byuan, the former executive director, finance of the Federal Housing Authority, who resigned to contest the governorship election in Benue, President Tinubu named Gisaor Vincent Iorja. The new occupier of the position is an economist, legal scholar, and academic currently serving as the secretary of the Benue State Independent Electoral Commission (BSIEC).
By Aduragbemi Omiyale
In line with the 12-year tenure prescribed for non-executive directors of banks by the Central Bank of Nigeria (CBN), Mr Tony Elumelu will on August 21, 2026, cease to be chairman of United Bank for Africa (UBA) Plc.
The board of the financial institution at its meeting on July 6, 2026, has elected Mr Emmanuel Nnorom as the new chairman.
In a notice to the Nigerian Exchange (NGX) Limited, the lender said Mr Elumelu’s successor, a non-executive director of the company, will assume the new role on August 21, 2026.
Mr Nnorom is a chartered accountant with over 40 years of experience in banking, finance and audit. He brings to the role extensive leadership experience and deep institutional knowledge of UBA.
“I am honoured by the trust the Board has placed in me and deeply conscious of the legacy I inherit.
“I look forward to working with my colleagues on the board, management and our staff across all our markets to sustain UBA’s momentum and continue delivering long-term value to our shareholders, customers and stakeholders,” Mr Nnorom stated.
Commenting on his retirement, Mr Elumelu said, “Serving United Bank for Africa has been one of the great privileges of my career.
“UBA has a unique competitive position, across Africa and globally, and I leave the Board with great confidence in UBA’s future.
“Emmanuel Nnorom is a leader of integrity, experience and sound judgement, and I am confident that the Bank will continue to thrive under his leadership.”
The board thanked him for his visionary leadership and exceptional contribution to the growth, transformation and institutional strength of the UBA Group.
