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 Aduragbemi Omiyale
The chief operating officer of Chemical and Allied Products (CAP) Plc, Mr Jethro Iruobe, has been appointed as an executive director.
A statement from the organisation disclosed that the appointment is effective June 25, 2026.
In his new role, Mr Iruobe will participate in the formulation and execution of the company’s strategic priorities, provide executive leadership across critical functions, and contribute to its continued growth, sustainability and success.
The new board member joined the firm in 2019 as Head of Human Resources before growing to become the COO, with responsibility for Human Resources, Corporate Communications, Administration, Fleet and Commercial Excellence.
He has over 19 years of experience across a range of industries, including financial services, consulting, FMCG and manufacturing, having begun his career in banking before kicking off his HR career at KPMG and going on to hold senior roles at Promasidor Nigeria, Coca-Cola HBC and TGI Nigeria.
Throughout his career, he has supported organisations in building high-performing teams and driving sustainable business growth.
Beyond his corporate responsibilities, he is a columnist with Business Day Newspaper, a trained relationship counsellor and co-author, and a recipient of awards in both the human resources profession and other platforms.
Mr Iruobe holds a Bachelor’s degree in Mathematics and Economics from the University of Benin and a Master of Business Administration (MBA) from the Manchester Business School, United Kingdom. He is a certified Project Management Professional (PMP) and also holds the Global Professional in Human Resources (GPHR) certification awarded by the Human Resource Certification Institute.
By Aduragbemi Omiyale
Mr Malolan Sampath has been appointed as the new chief executive of Champion Breweries Plc, effective September 1, 2026.
The appointment of a new chief executive was approved by the board of the brewery giant following the resignation of Mr Inalegwu Adoga.
To ensure continuity during the transition pending Mr Sampath’s assumption of office, the board has appointed Mr Rasheed Ademola Adebiyi, Executive Director of Finance, to take charge of the affairs of the organisation.
In a statement, the board said it remains committed to the highest standards of corporate governance and to delivering a seamless leadership transition and sustainable value to shareholders and other stakeholders.
The new Sheriff in town, expected to take over next quarter, was described as an accomplished executive with over 26 years of international leadership experience across the beverage, FMCG, manufacturing and agro-industrial sectors, having built and led businesses up to $500 million in scale.
His beverage and brewing experience includes serving as Managing Director of Unique Beverages in Angola and as Sales & Marketing Director for a PepsiCo bottling franchise, in addition to earlier brewing-sector experience.
Most recently, he held the dual role of Managing Director (NPK Joint Venture) and Chief Marketing Officer at Indorama Eleme Fertilisers in Nigeria and previously served as Chief Executive Officer of Global Industries Limited, a Wilmar International joint venture in Zambia.
He holds a Postgraduate Diploma in Management (MBA) from the Symbiosis Centre for Management & HRD, Pune, and a Bachelor of Business Administration from the University of Chennai.
The board expressed confidence that his expertise in manufacturing excellence, commercial execution and business transformation will support the company’s strategic objectives and long-term growth.
By Aduragbemi Omiyale
Erudite legal practitioner, Mr Muiz Banire (SAN), has been appointed to the board of a construction giant, Julius Berger Nigeria Plc.
He joins the board of the organisation as a non-executive director, with effect from July 1, 2026, alongside Mrs Chinazo Okoye, who is an alternate director to Dr Ernest N. Azudialu-Obiejesi.
A statement from the company secretary, Ms Cecilia Ekanem Madueke, said Mrs Okoye is a graduate of the University of Michigan, Ann Arbor, Michigan, USA, and holds a Bachelor of Science in Mechanical Engineering, Master of Engineering Degree in Mechanical Engineering from the Cornell University, Ithaca, New York, USA, and a Master of Science Degree in Professional Accountancy from the University of London, London, UK.
She is a Chartered Certified Accountant (ACCA) of the Association of Chartered Certified Accountants. She has worked in various positions in various companies and is currently the Managing Director of Amaranta Trading Limited.
As for Mr Banire, he is a graduate of the University of Lagos and holds a Master of Laws Degree as well as a Doctor of Philosophy Degree from the same university.
He was called to the Nigerian Bar in 1989. He also holds a Master Certificate in the Arbitration Master Course from the Lagos Court of Arbitration Training Institute. He was admitted to the Inner Bar and conferred with the rank of Senior Advocate of Nigeria (SAN). He is a Member of the International Bar Association, the Institute of Chartered Secretaries and Administrators, an Associate Member of the Chartered Institute of Arbitrators, a Fellow of the Institute of Transport Administration of Nigeria, and the Nigerian Institute of Management. He is registered with the Law Society of England.
He had served in various capacities in the Legal profession, academic community and publicly. He was conferred with the National Honour of the Officer of the Order of the Niger (OON).
He is the Founder and Principal Partner, M. A. Banire & Associates, Member of the Board of Trustees, Fountain University, Osogbo, Osun State, and Pro-Chancellor of the University of Uyo, Akwa Ibom State.
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