Jobs/Appointments
Onyeali-Ikpe to Replace Okonkwo as Fidelity Bank MD/CEO
By Dipo Olowookere
In compliance with its succession policy, the board of Fidelity Bank Plc has announced that Mrs Nneka Onyeali-Ikpe will replace the current Managing Director/Chief Executive Officer of the bank, Mr Nnamdi Okonkwo, when the latter retires at the end of this year.
Mr Okonkwo is expected to leave the position on December 31, 2020, upon completion of his contract tenure and in line with the bank’s governance policies.
To fill the post, the board has approved the appointment of the present Executive Director of Fidelity Bank in charge of Lagos and South West Directorate. Her appointment has also been authorised by the Central Bank of Nigeria (CBN).
“To ensure a smooth and successful transition, Nnamdi Okonkwo will continue in his role as the MD/CEO until December 31, 2020, while Nneka Onyeali-Ikpe will assume office as the substantive MD/CEO by January 1, 2021,” Chairman of the board, Mr Ernest Ebi, was quoted as saying in a statement on Monday.
Mr Ebi commended the MD/CEO for his significant contributions to the growth and development of the bank, confessing that, “Fidelity Bank has enjoyed a very stable leadership since inception.”
“These appointments underscore the bank’s robust human capital capabilities, governance and succession policies.
“We thank Nnamdi not only for his sterling performance but also for nurturing the new team and current crop of leaders to continue to steer the bank on its growth trajectory,” he stated.
Mr Okonkwo was appointed to the board of Fidelity Bank in April 2012 as an Executive Director and was subsequently appointed the MD/CEO on January 01, 2014.
He implemented a digital-led strategy which led to significant growth across key performance matrix and increased market share, with the bank currently ranked 6th amongst Nigerian Banks on most performance indices.
Some of his key achievements include PBT growth of 236 per cent from N9.0 billion to N30.4 billion; RoE increase from 5.5 per cent to 13.3 per cent; customer deposits growth of 68 per cent from N806.3 billion to N1.4 trillion and savings deposit growth of 275 per cent from N83.3 billion to N312.1 billion.
Other notable achievements include net loans and advances growth of 174 per cent from N426.1 billion to N1.2 trillion; customer base increase by 121 per cent from 2.4 million to 5.3 million and digital banking penetration improvement from 1.0 per cent to 50.1 per cent, accounting for 28.4 per cent of total fee income.
In addition, the bank successfully accessed the local and international markets through the issuance of N30 billion corporate bonds in 2015 and $400 million Eurobonds in 2017 under his leadership.
For the incoming MD/CEO, Mrs Nneka Onyeali-Ikpe, she was appointed to the board of Fidelity Bank in 2015 as an Executive Director and currently oversees the Lagos and Southwest Directorate.
She led the transformation of the Directorate to profitability and sustained its impressive year-on-year growth across key performance metrics.
Mrs Onyeali-Ikpe has been an integral part of the current management team, responsible for the remarkable increase in the bank’s performance in the last 5 years, with the area under her direct responsibility, contributing over 28 per cent of the bank’s PBT, deposits and loans.
She has over 30 years of experience across various banks including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank/Enterprise Bank, where she held several management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking and Corporate Banking.
As an Executive Director at legacy Enterprise Bank Plc, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON), as a member of the management team, that successfully turned around Enterprise Bank Plc.
She holds Bachelor of Laws (LLB) degree from the University of Nigeria, Nsukka; a Master of Laws (LLM) degree from Kings College, London and has attended executive training programs at notable global institutions including; Harvard Business School; The Wharton School University of Pennsylvania; INSEAD School of Business; Chicago Booth School of Business; London Business School and IMD amongst others.
Meanwhile, the board has also approved the appointment of Mr Kevin Ugwuoke, the current Chief Risk Officer of the bank, as Executive Director, Chief Risk Officer, subject to the approval of the CBN.
Mr Ugwuoke joined Fidelity Bank in 2015 as General Manager, Chief Risk Officer.
Under his supervision, the bank’s total loan book has grown by a Compound Annual Growth Rate (CAGR) of 17 per cent from N559.1 billion to N1.2 trillion with Cost of Risk averaging 0.7 per cent within the period and Non-Performing Loans ratio below the regulatory threshold at 4.8 per cent in Q1 2020.
He has over 29 years of banking experience across various banks namely Citi Bank, Access Bank Plc, United Bank for Africa Plc and legacy Mainstreet Bank Limited, where he worked in various capacities in Banking Operations, Commercial Banking, Corporate Banking and Risk Management.
Prior to joining Fidelity Bank, he was Chief Risk Officer at United Bank for Africa Plc and Mainstreet Bank Limited.
He holds a First Class Honours degree in Civil Engineering from the University of Nigeria, Nsukka and a Post Graduate Diploma in Management from Edinburgh Business School of Herriot-Watt University.
He has attended several executive trainings at Harvard Business School and other world-class institutions of learning.
By Adedapo Adesanya
The Governor of Oyo State, Mr Seyi Makinde, has formally announced Prince Abimbola Akeem Owoade as the new Alaafin of Oyo, more than two years since the throne was vacant following the death of the last Alaafin, Oba Lamidi Olayiwola Adeyemi III, on April 22, 2022.
A statement by the Commissioner for Information and Orientation, Mr Dotun Oyelade, said Prince Owoade, after thorough consultations and divination, was recommended by the Oyomesi and approved by the Governor of Oyo State.
According to the Commissioner, a statement to this effect had been issued by the Commissioner for Local Government and Chieftaincy Affairs, Mr Ademola Ojo, who said that the announcement put to rest all the social and legal bickerings that ensued since the demise of the previous occupier of the exalted seat in Yorubaland.
Mr Ojo called on all citizens of Oyo State to join the government in celebrating this momentous occasion and lend their support to the new Alaafin of Oyo.
The Commissioner prayed that his reign would bring peace, prosperity and unity to the historic Oyo Kingdom.
Business Post reports that insiders say there is some discontent as Prince Lukman Adelodun Gbadegesin was initially selected by the Oyo Mesi, the kingmakers, to be the next ruler.
Prince Akeem Abimbola Owoade, a member of the Owoade-Agunloye family, is 47 years old. He is a trained mechanical engineer.
He has an MSc in Mechanical Engineering from Northumbria University after he attained a BSc in Mechanical Engineering from the University of Sunderland.
Before his sojourn to the United Kingdom, he has some education in Nigeria, attaining his Higher National Diploma (HND) also in Mechanical Engineering from the Polytechnic, Ibadan and his National Diploma from Federal Polytechnic, Ilaro and his Secondary School from Baptist High School, Saki.
His coronation will happen in the coming weeks.
By Aduragbemi Omiyale
Mr Ayo Adeonipekun has been appointed as the new Registrar and chief executive of the Chartered Institute of Stockbrokers (CIS).
He is taking over the position from Mr Josiah Akerewusi, who retired after a decade of meritorious service, according to a statement.
“This is a critical role that requires strong leadership, strategic thinking, and a deep understanding of the capital market.
“Adeonipekun possesses these qualities, and we believe he will transform the institute into a world-class certification entity,” the chairman of the Council at CIS, Mr Oluropo Dada, said.
Mr Adeonipekun is expected to guide the organisation to higher heights with his over 25 years of extensive multidisciplinary experience in leadership, finance, people and performance management, as well as corporate planning and administration.
Before now, he has served in various top management positions in leading organisations, including Marina International Bank (now Access Bank), Crossword Securities Limited, Sterling Bank, First City Monument Bank Plc, Susu Microfinance Bank, and MBL Financial Services, among others.
He was once the chief executive of a funds/portfolio manager licensed by the Securities and Exchange Commission (SEC), Reliance Capital Limited.
A Fellow of the Chartered Institute of Stockbrokers, Mr Adeonipekun qualified as a Chartered Stockbroker in March 2006 while working at Crossword Securities Limited.
He also became a Chartered Accountant in May 1997 and was admitted as a Fellow of the Institute of Chartered Accountants of Nigeria (ICAN) in 2013.
Additionally, he is a Certified Microfinance Banker (CIBN-MCP), an Associate Member of the Chartered Institute of Taxation of Nigeria (CITN), a trading license holder with the Nigerian Exchange (NGX) Limited, and a Registered Capital Market Operator/Sponsored Individual with the SEC.
The CIS chief boasts a Higher National Diploma in Accountancy from Yaba College of Technology, a Bachelor of Science in Accounting and a Master’s in Finance, both from Olabisi Onabanjo University (OOU), Ago-Iwoye, Ogun State, and currently a doctoral candidate (PhD Finance) at the same institution.
By Adedapo Adesanya
The Nigerian Aviation Handling Company PLC (NAHCO Aviance) has announced the appointment of Mr Olumuyiwa Olumekun as its new chief executive, with effect from January 1, 2025, following the retirement of Mr Indranil Gupta.
Mr Gupta concluded his tenure as the company’s CEO on December 31, 2024, marking the end of an era that saw growth under his leadership.
The company’s announcement, delivered via a notice to the Nigerian Exchange (NGX) Limited, confirmed the board’s approval of Mr Olumekun’s appointment.
He brings over three decades of leadership experience, which will help steer NAHCO through its next phase of growth. His career at the company includes key roles such as Group Executive Director of Corporate Services, where he played an instrumental part in driving the company’s 2019–2023 strategic plan.
This plan resulted in a 300 per cent increase in profitability. He brings his experience in business development and commercial strategy to bear.
His previous tenure as Acting Managing Director and Executive Director of Corporate Services contributed to the development of NAHCO’s operational success and long-term strategic direction.
Mr Olumekun also led the company’s efforts in driving new business opportunities during his leadership of the Commercial and Business Development sectors in 2019.
Since retiring from his active role at NAHCO in 2022, he has continued his involvement in the company as a non-executive director on the boards of its subsidiaries, helping guide their growth.
-
Feature/OPED5 years agoDavos was Different this year
-
Travel/Tourism8 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz2 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking7 years agoSort Codes of GTBank Branches in Nigeria
-
Economy2 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking2 years agoFirst Bank Announces Planned Downtime
-
Sports2 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
-
Technology4 years agoHow To Link Your MTN, Airtel, Glo, 9mobile Lines to NIN