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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
A major fire outbreak occurred at a market in the Yaba area of Lagos State in the early hours of Saturday.
The blaze, which reportedly began between 1:00 AM and 3:00 AM, has destroyed several shops and goods worth millions of naira, leaving numerous traders stranded and counting their losses.
Videos circulating on social media showed thick smoke and flames consuming parts of the market, while traders and residents scrambled to salvage belongings.
An eyewitness, Lugar Feliz, livestreaming on TikTok, noted that firefighters were already at the scene and identified the affected area as the Popo section of Yaba Market. Another user, Olamilekan Iyiola (@Olamilekan0932), described the incident as a “terrible fire outbreak in Yaba right now.”
Some residents expressed frustration over emergency response efforts. Adeoluwa (@Okunlola_Jude) reported that shops behind his property were completely destroyed, with losses estimated in the billions of naira. He added, “Fire service headquarters is just 10 minutes away, yet only one truck was brought to the scene.”
Sullex Print and Branding (@SullexBranding) also highlighted equipment challenges, claiming, “Three fire service trucks responded, but only one had water. The fire is currently at Ajibode Street, Yaba.”
As of Saturday morning, the cause of the fire remained unknown. No official statement has been released by the Lagos State Fire and Rescue Service regarding the extent of damage or potential casualties. Firefighting and containment efforts were ongoing, while residents called for enhanced emergency preparedness to prevent further losses.
The Nasarawa State Police Command has confirmed that 11 people were killed and over 50 houses were burnt following violent clashes between the Akyawa and Udege Kasa communities in the Nasarawa Local Government Area on Friday.
The two warring communities, Akyawa and Udege Kasa, clashed in the early hours of Friday over some disagreements.
In a statement made available to journalists in Lafia, the Nasarawa State capital, on Saturday, the Police Public Relations Officer of the command, SP Ramhan Nansel, explained that the casualties prompted the Commissioner of Police, Shetima Jauro Mohammed, to visit the communities with a view to restoring normalcy.
According to Nansel, during the CP’s visit to the affected communities of Akyawa and Udege Kasa on April 3, 2026, Mohammed expressed deep sorrow over the tragic incident, which claimed the lives of 11 persons and led to the burning of several houses.
He stated that the CP commiserated with the families of the deceased and the entire community, assuring them of the command’s unwavering commitment to ensuring that justice is served.
The PPRO said, “The incident, which occurred in the early hours of the same day, involved hoodlums suspected to have carried out a reprisal attack over the alleged killing of two of their kinsmen.
“In the course of the attack, 11 persons were killed, while about 50 houses were burnt in Akyawa and two houses in Udege Kasa.
“In response, CP Shetima has ordered an intensive manhunt for all perpetrators of the heinous act, directing tactical teams and investigative units to ensure their prompt identification, arrest, and prosecution.”
Nansel noted that in order to prevent any further breakdown of law and order, the CP had also directed the immediate reinforcement and sustained deployment of police personnel, in synergy with the military and the Nigeria Security and Civil Defence Corps, to provide adequate security and restore lasting peace in the area.
“A stakeholders’ meeting was held during the visit, where the CP urged residents to remain calm, law-abiding, and cooperate with security agencies by providing credible information to support ongoing investigations.
“The Command reassures members of the public that normalcy has been restored to the affected communities, while proactive measures are in place to prevent any recurrence of violence,” the statement added.
Meanwhile, there are rumours that the communities came under violent attacks, as suspected Fulani militias, believed to be bandits, reportedly invaded Akyawa and Udege Kasa late Thursday night.
The latest assault, according to local sources, is believed to be a continuation of an earlier violence in nearby Sabon Gida (Gidan Ada Ogiri), where houses, farm produce and other valuable properties were destroyed.
Residents lamented that barely 48 hours after the attack on Sabon Gida, the fresh assault occurred, heightening fears among residents who say no one can predict which community may be targeted next.
Sources expressed concern that the attackers had been sighted moving around neighbouring communities prior to the incident, yet no decisive preventive measures were taken by security authorities.
“It is becoming unbearable. They abduct at will and now invade our entire communities unchecked. People are living in fear and fleeing their homes for safety,” a resident lamented.
Our correspondent gathered that the affected communities, once known for their mining activities and vibrant local economy, have in recent times been severely impacted by recurring insecurity attributed to suspected bandit groups.
Residents are therefore calling on the Nasarawa State Government to act swiftly to contain the situation and prevent further devastation, especially as farmers have begun planting for the new season amid fears of renewed attacks.
News
Union Bank Looted: How former directors gambled with billions and nearly destroyed a national bank
The former directors and owners of Union Bank did not just fail, they engineered a financial disaster. They manipulated reports, hid massive losses, diverted foreign loans and treated depositors’ money like a private wallet.
Investigators uncovered billions of dollars in misconduct. These directors buried over ₦250 billion in losses, piled a $300 million foreign loan onto the bank without protection and then forced Union Bank to carry the burden. They even used the bank’s own funds to buy its shares, an outrageous betrayal of trust.
It didn’t stop there. Over $100 million was pulled out improperly, leaving the bank exposed and struggling. Loans meant for customers were secretly diverted into shady transactions. False reports were sent to lenders. The system was deliberately deceived.
This was not incompetence. It was exploitation.
By 2025, their actions had created nearly ₦400 billion in losses and over ₦147 billion in unpaid charges. The bank was on the edge.
The Central Bank of Nigeria (CBN) stepped in just in time. Without that intervention, Union Bank could have collapsed, dragging others down with it.
Now, the bank is stabilising. But let’s be clear: this recovery is happening in spite of those former directors, not because of them.
They didn’t build value. They destroyed it.
And Nigerians deserve to never forget who was responsible.
Fire Outbreak Leaves Hundreds Of Traders Stranded At Yaba Market
11 Dead, 50 Homes Razed In Violent Nasarawa Community Clashes
Union Bank Looted: How former directors gambled with billions and nearly destroyed a national bank
Gumi Defends Dialogue As Sole Solution To Nigeria’s Insecurity
Court Clears Senator Ireti Kingibe To Remain Active In ADC
Tinubu: I Was Elected To Establish Peace, Not Comfort Widows, Widowers
COAS Shaibu Hits Jos To Restore Peace, Public Confidence
President Tinubu Appoints New PTDF Executive, Reappoints TCN Head
Simi Welcomes Second Child With Adekunle Gold
