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Pace Setting Fidelity Bank MD, Nneka Onyeali-Ikpe Clocks 60
There is tremendous excitement in the air as the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe clocked 60 years on Sunday July 28, given her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top CEOs.
Besides leading the bank to close the 2023 financial year with strong double-digit growth across key income and balance-sheet lines with profit before tax growing by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on Average Equity (RoAE) of 26.5% from 15.6% in 2022FY, her proactive efforts also manifested when the bank opened its N127.10bn rights issue and public offer in June, becoming the first bank to go public following the recapitalisation directive of the Central Bank of Nigeria issued in March.
This wasn’t surprising to many industry watchers, as the virtuous woman and Champion Newspapers’ 2022 Banker of the Year, has consistently advocated that “women must work hard, invest in their personal development, constantly up-skill and gain deep knowledge of their industry, for them to break the ice in their careers” adding however that it is “extremely important that we create enabling environments for women to thrive and maximise their full potential.
At the public offer and rights issue facts behind the combined offer presentation at the Nigerian Exchange Limited, she explained that the financial institution’s N127.10bn capital raising was to be considered as a pacesetter in the life of the banking industry capitalisation drive, revealing that Fidelity Bank has already started the process of raising additional capital ahead of CBN’s directive, “requiring the banks to raise a minimum capital base of N200bn for national banks and N500bn for banks with international operations like ours, amongst other capital requirements”.
Though the full report on the outcome of the bank’s public offer of 10 billion ordinary shares of 50 kobo each at N9.75 per share and rights issue of 3.2 billion ordinary shares of 50 kobo each at N9.25 per share has not been fully made public, industry experts earlier predicted a highly successful exercise given the financial institution’s recent strong financial performance and with a client base of over 8 million customers.
Born in Anambra state on July 28, 1964, Nneka joined Fidelity Bank as an Executive Director in 2015 and was appointed Managing Director/CEO of the Bank in January 2021.
According to her citation, she is an alumnus of the prestigious University of Nigeria, Nsukka and Kings College, London where she holds a Bachelor of Law and Masters of Law respectively and has also attended executive training programs at 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.
And with over 33 years of experience in investment banking, wealth management, Treasury Management, retail banking and corporate banking among others, Nneka is widely regarded as one of Africa’s leading CEOs with a reputation for “identifying talents, opportunities and executing complex business deals”.
For instance under her leadership, Fidelity Bank has been adjudged by many industry leading experts as the fastest growing bank in Nigeria while her deep understanding of complex businesses and markets has enabled the bank undertake large ticket transactions in financial advisory, structured and project finance in the real sectors as well as take advantage of opportunities in select high growth international markets where the Bank has a competitive advantage.
Significantly, she guided the bank to obtain the approval of the Central Bank of Nigeria, CBN, to expand its operations to the United Kingdom that culminated in Fidelity Bank’s acquisition of the 100 per cent equity in Union Bank UK, a subsidiary of the Union Bank of Nigeria.
Very passionate about innovation and embracing technology, Nneka towering achievements include her pioneering role in several innovative and pacesetting products such as the PayGate Plus, an online platform that enables businesses make and receive payments.
Married to Dr. Ken Onyeali-Ikpe, the workaholic has also radically repositioned the bank as the “go-to financial institution for Small and Medium Enterprises”.
Furthermore, apparently understanding the critical role of small businesses in the sustenance of economic growth and development, she led the bank to create the Fidelity International Trade & Creative Connect (FITCC) which is aimed at providing a touchpoint for exporters, regulators, subject matter experts and the market.
According to the records, the FITCC 2022 edition was attended by representatives of both the UK & the Nigerian Governments, Nigerian exporters, investors, regulators from the United Kingdom and Nigeria, the business community and other practitioners.
The pipeline deals from the event was in excess of $200million. Also, over 2,000 people registered to attend the event and daily foot-fall was about 1,000.
Similarly, recall that second edition of the FITCC, held in Houston, Texas in the United States of America took place from the 24th to 25th of October, 2023 at the plush George R. Brown Convention Center, 1001 Avenida de las Americas. It was well attended too.
But in her bid to give back to the communities the Bank serves and as part of her efforts to combat the twin issues of poverty and hunger, Mrs Onyeali-Ikpe launched a National Corporate Social Responsibility initiative tagged The Fidelity Food Bank which provides free food bags to people across Nigeria on a monthly basis.
A winner of several international and national awards including Officer of the Order of the Niger, OON, Nneka has been recognized by several local and international bodies for her giant strides and such high profile recognitions include: “The Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards; The Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards as well as Champion Newspapers’ 2022 Banker of the Year.
No doubt her impactful leadership and outstanding performance as CEO, had resulted in the bank bagging several laurels within and outside Nigeria some of which are: “Best Commercial Banking Brand in Nigeria by the Global Brands Magazine Awards; Best Private Bank in Nigeria by The Financial Times in association with The Banker Magazine; Global Finance’s World’s Best Private Banks 2023 awards for Best Private Bank in Nigeria and The Best Payment Solution Provider Nigeria 2023 in the 2023 Global Banking & Finance Awards amongst others.
Happy birthday to a pacesetter and accomplished banker.
Culled from Champion Newspaper Website
Gunmen suspected to be kidnappers have abducted a couple from their residence in the Iluabo area of Akure North Local Government, Ondo State.
During the attack, which occurred in the early hours of Saturday, February 21, 2026, the assailants shot one person before seizing the victims.
The gunmen had stormed Olaribigba Estate in the community when they whisked Mr Jamiu Olawale and his wife into the bush.
Following the development, which has created tension in the agrarian community, residents protested and barricaded the road leading to the community over the incessant kidnappings and insecurity in the community.
According to sources, the couple had arrived at their residence in an ash-coloured Toyota Camry when they were attacked by the gunmen, who lay in ambush for them.
During the incident, a neighbour of the abducted couple, Patrick Ilumaro, who was seated in front of his residence, was shot by the gunmen while fleeing from the community.
A neighbour of the victims revealed that Ilumaro was swiftly rushed to an undisclosed medical facility where he is currently receiving medical treatment.
While confirming the incident, the Ondo State Police Command disclosed that tactical teams as well as conventional operatives have been deployed to the community.
In a statement issued by the Police Public Relations Officer, Abayomi Jimoh, the operatives are already combing the axis in an effort to rescue the victims and apprehend the perpetrators.
“Concerted efforts are ongoing to ensure the safe return of the abducted persons and bring those responsible to justice.
“Members of the public are urged to remain calm and go about their lawful activities. Meanwhile, the Command urges them to provide credible and actionable information that may assist in the investigation to the nearest police station.”
One person died and four others were rescued following a road accident at Ekoro Junction, Abule-Egba, on Friday evening, according to a statement from the Lagos State Traffic Management Authority.
The Director, Public Affairs and Enlightenment Department of LASTMA, Adebayo Taofiq, made this known in a statement issued on the agency’s X handle on Saturday.
According to the agency, the crash occurred at about 7:30 p.m. when an empty MACK tanker suffered a sudden brake failure, lost control and rammed into a Toyota Corolla before crashing into a roadside shop.
LASTMA said the tanker, with registration number EKY 900 XY, collided with a Toyota Corolla marked AAA 823 AY.
The impact caused extensive structural damage to the shop and triggered panic among traders and pedestrians in the area.
“The magnitude of the collision led to the immediate confirmation of one fatality at the scene, while four other trapped persons were extricated from the wreckage through coordinated emergency rescue efforts,” the agency stated.
The authority said it immediately activated its Rescue and Recovery Protocol, deploying specialised operatives to manage the situation.
“Personnel implemented strategic traffic diversion, vehicular evacuation procedures and crowd management in synergy with other emergency responders to forestall secondary incidents and guarantee unobstructed access for rescue operations,” LASTMA added.
It stated that emergency teams carried out rescue operations and provided medical attention to the injured victims.
According to the agency, a heavy-duty tow truck was later deployed to evacuate the damaged tanker and clear debris from the road to restore normal traffic flow.
The agency disclosed that the tanker driver fled the scene shortly after the crash and security operatives have since launched efforts to apprehend the driver and initiate legal proceedings.
“Security personnel from the Nigeria Police Force, Ekoro Division, responded expeditiously, maintaining public order, securing the accident perimeter and assisting in investigative processes aimed at establishing the precise sequence of events that culminated in the mechanical failure and subsequent collision.
“The incident precipitated considerable traffic congestion extending across adjoining routes toward Abule-Egba, necessitating robust traffic management interventions by LASTMA officials who remained on ground directing vehicular movement and implementing diversion strategies to alleviate the backlog,” it said.
According to the agency, its General Manager, Olalekan Bakare-Oki, expressed condolences to the family of the deceased and urged transport operators, particularly drivers of articulated vehicles, to prioritise routine vehicle maintenance.
“Preventable mechanical deficiencies remain a significant contributory factor in severe road traffic crashes,” Bakare-Oki said.
He also advised motorists to exercise vigilance, obey traffic regulations and maintain responsible driving practices, especially within densely populated commercial corridors.
Bakare-Oki assured the public that security agencies would conduct a thorough investigation to determine the immediate and remote causes of the incident and ensure that anyone found culpable would be prosecuted in accordance with extant laws.
The agency said other emergency responders at the scene included the Lagos State Emergency Management Agency, the Lagos State Fire and Rescue Service, the Lagos State Ambulance Service, the State Environmental Health Monitoring Unit and officers of the Nigeria Police Force, collaborated to coordinate rescue, medical response and environmental safety measures.
The Department of State Services (DSS) will arraign former Governnor of Kaduna state, Nasir El-Rufai, on February 25 over alleged cybercrime and breach of national security.
Justice Joyce Abdulmalik of the Federal High Court has fixed the date for the arraignment of the former Governor on a three-count criminal charge filed by the Department of State Services (DSS) after the Chief Judge, Justice John Tsoho assigned the case to her.
NAN earlier reported that the DSS, on Monday, filed a three-count criminal charge against El-Rufai following his alleged involvement in wiretapping the telephone lines of the National Security Adviser (NSA), Mallam Nuhu Ribadu.
The charge, instituted by the Nigerian secret police, is marked FHC/ABJ/CR/99/2026.
The service accused El-Rufai of breaching the Cybercrimes Prohibition Act (2024) and the Nigerian Communications Act (2003.)
In court, El-Rufai was alleged to have, on Feb. 13, while appearing as a guest on Arise TV station’s Prime Time Programme in Abuja, admitted during the interview that he and his cohorts unlawfully intercepted the phone communications of the NSA, Mr Ribadu.
The offence is said to be contrary to and punishable under Section 12(1) of the Cybercrimes (Prohibition, Prevention, etc.) Amendment Act, 2024.
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