Balarabe Retires as Fidelity Bank Deputy Managing Director

By Modupe Gbadeyanka

The board of Fidelity Bank Plc has announced the retirement of its Deputy Managing Director, Mr Muhammed Balarabe, effective December 31, 2019.

Mr Balarabe was appointed to the board of Fidelity Bank, a mid-level bank in Nigeria, on April 01, 2012 and became the bank’s Deputy Managing Director on May 02, 2016.

From the end of this year, he will vacate the position. At the moment, apart from being the DMD, he is in charge of Commercial and Consumer Banking (North), with responsibilities covering the management of Fidelity Bank’s locations in Northern Nigeria and the Federal Capital Territory, Abuja.

According to a statement from Fidelity Bank, Mr Balarabe is going on retirement in accordance with the bank’s Human Capital Policy and predicated on attainment of the retirement age.

It was stated by the lender that the retirement of the DMD has been approved by both the board of the bank and the Central Bank of Nigeria (CBN), the industry watchdog.

Meanwhile, in keeping with its succession plan, the board of Fidelity Bank Plc has appointed Hassam Imam as the new Executive Director (North Directorate).

According to the statement from the financial institution on Friday, “This appointment has also been approved by the Central Bank of Nigeria (CBN) to take effect on January 01, 2020.”