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Fidelity Bank’s FY 2024 Performance Praised By Shareholders

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Shareholders of tier one lender, Fidelity Bank, have applauded the board and management of the bank for delivering an outstanding performance in FY 2024.

 

Speaking at the bank’s 37th Annual General Meeting (AGM) held virtually on Tuesday, April 29, 2025, the National Chairman of The Progressive Shareholders Association, Chief Boniface Okezie, praised the bank, saying, “This is a superlative performance and we the shareholders are grateful to management and staff for giving us a bank to be proud of. It is also important to note that the bank has earned its spot as one of the top 3 dividend-paying financial institutions in Nigeria.”

 

On his own part, the Chairman, Zonal Shareholders Committee, Sir Tunji Okelana, recognized the bank’s exceptional leadership, which has seen the bank grow to unprecedented heights.

L – R: Executive Director/Chief Operations and Information Officer, Mr. Stanley Amuchie; Managing Director/Chief Executive Officer, Dr. Nneka Onyeali-Ikpe; Chairman, Mr. Mustafa Chike-Obi; and Company Secretary, Mrs. Ezinwa Unuigboje; (all of Fidelity Bank Plc) at the bank’s 37th Annual General Meeting held in Lagos recently.

“The achievements of the current MD have surpassed that of everyone who held that office before her. In addition, staff working with her are assets. They are truly ‘Fidelity, they keep their word’. Without any doubt, I am very happy with the bank”, he declared.

 

In his remarks at the meeting, the Chairman, Board of Directors, Fidelity Bank Plc, Mr. Mustafa Chike-Obi, said, “Despite the global economic headwinds, we demonstrated exceptional resilience, achieving record breaking growth across all performance indicators, most notably our Profit Before Tax (PBT)”.

 

He further added that the bank’s stakeholders were all pleased with the success of the first stage of the capital-raise exercise. “The oversubscription of 237.9% in the Public Offer and 137.7% in the Rights Issue is a testament to the strength of our brand and the confidence the investing public has in us. Equipped with this vote of trust, we will proceed swiftly and conclude the second tier of our capital-raise exercise”.

 

Managing Director/Chief Executive Officer, Fidelity Bank Plc, Dr Nneka Onyeali-Ikpe in her statement to shareholders, shared the strategic outlook to build on the bank’s FY 2024 success stating that, “Our priorities in 2025 financial year are to complete the next phase of our capital raise and further strengthen our asset base, enhance operational efficiency and digital innovation and explore strategic regional expansion into select African markets.”

 

According to the bank’s 2024 annual report available on its website and distributed to shareholders, the bank recorded an impressive 210% growth in Profit Before Tax to N385.2 billion. Gross Earnings increased by 87.7% to N1,043.4bn, driven by 106.9% growth in interest and similar income to N950.6bn. The bank also witnessed an impressive 47.9% growth in deposits from N4.0trn in 2023FY to N5.9trn while Advances grew from N3.1tn in 2023FY to N4.4tn in 2024FY.

 

Several resolutions were considered and passed at the AGM, including the declaration of a final dividend of N1.25 kobo, the election of non-executive directors -Alhaji Abdullahi Sarki Mohammed and Ms. Obiaku Augusta Okam; the election of Mr Sufiyanu Ibrahim Garba as executive director; and the re-election of non-executive directors -Mr Mustapha Chike-Obi and Engr Henry Obih, among others.

 

Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.

 

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

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Gumi Defends Dialogue As Sole Solution To Nigeria’s Insecurity

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Islamic cleric Sheikh Ahmad Gumi recently defended his past interactions with armed groups, stating he “took the bull by the horns” in 2021 as a necessary step to address Nigeria’s insecurity.

In a post shared on Facebook on Thursday, Gumi said decades of neglect of disadvantaged populations had created deep socio-economic inequalities, leaving many youths vulnerable to manipulation by external forces seeking to destabilise the country.

According to him, the widening gap between the rich and the poor has turned many young people into “ready-made foot soldiers” in cycles of violence that enable the exploitation of Nigeria’s resources.

He also criticised the political class for being largely unresponsive, while noting that the intellectual community is preoccupied with survival struggles.

Reflecting on his past efforts, Gumi said he “took the bull by the horns” in 2021 by attempting to reintegrate violent elements into society rather than allowing them to be further radicalised.

He wrote: “Nigeria for decades has ignored the underprivileged section of its society. There is a significant socio-economic discrepancy, and the society is stratified. This makes our teaming youth ready-made foot soldiers for any foreign interest trying to divide us and rule. To plunder our resources while we are involved in a vicious circle of violence.

”Unfortunately, the political class is unattentive while the intelligentsia is held hostage in the struggle for existence.

“In 2021, I took the bull by the horns in an attempt to bring some of these uncouth elements back to our fold rather than letting them be exploited by the devil.

“I still believe this is the only way out of our predicament. However, it needs the political will and determination to achieve.

“May Allah bring peace back to our nation.”

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Court Clears Senator Ireti Kingibe To Remain Active In ADC

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The Federal High Court in Abuja rejected an ex-parte application seeking to bar Senator Ireti Kingibe from participating in the activities of the African Democratic Congress (ADC).

Justice Peter Lifu declined the request from Wuse Ward leaders, ruling that such an order could not be granted without first hearing from the senator.

Instead, the judge ordered the ward leaders said to be loyal to the Minister of the FCT, Nyesom Wike, to put the senator on notice to appear in court to join issues with them on their grievances.

Justice Lifu in a ruling on Thursday held that discretion in such a request for prohibition from party activities and in political matters must be exercised judicially and judiciously.

The judge said justice would be met in the case of the plaintiffs only when the side of the defendant is heard on its merit, along with that of the plaintiffs.

Consequently, the judge ordered that Senator Ireti Kingibe should be served with all court processes by the plaintiffs to enable her become aware of the suit and to prepare her defense.

The judge fixed April 20, 2026, for the plaintiffs and the serving senator to appear before him for hearing of all applications in the matter.

Those who sued the senator in the suit marked FHC/ABJ/ CV/539/2026 are Okezuo Godfrey Anayo and Isaiah Ojonugwa Samuel, on behalf of themselves and ward members as plaintiffs. The senator is the sole defendant.

In their ex-parte application, Kingibe representing the FCT in the Senate was said to have been suspended on March 10, 2026 by her Wuse Ward executives following allegations of anti-party activities and disregard of your cnstitution of the ADC.

In the ex- parte application filed on their behalf by a Senior Advocate of Nigeria, SAN, Kolawole Olowookere, the aggrieved ADC members in Wuse Ward applied for an order of interim injunction restraining Kingibe from parading herself as a member of party, pending the hearing and determination of their motion on notice for interlocutory injunction.

They also asked the judge to restrain the senator from performing any function, attending meetings or performing activities reserved for ADC members or representing the party in any activities.

Besides, the Ward Executive Committee had asked that she be restrained from further interfering with the administration of the ward, ward register and other activities.

The suit was predicated on five grounds among which are that Mrs Kingibe was placed on suspension due to anti-party activities, gross misconduct and confiscation of the ward statutory records.

They argued that the suspension followed due process as enshrined in the ADC constitution and ratified by the two thirds majority of the EXCO members.

They averred that despite the communication of the suspension to Kingibe, she has continued to hold parallel meetings, issue press statements as an ADC member, and using her security details to intimidate the executive committee.

“Her actions constitute flagrant disregard to the internal mechanism of the party,” the plaintiffs stated.

Meanwhile, a lawyer, Abubakar Marshall who claimed to be representing the senator, announced that he had filed a preliminary objection against the suit. He added that it was served on M. S. Garba, who stood for the plaintiffs at Thursday’s proceedings.

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COAS Shaibu Hits Jos To Restore Peace, Public Confidence

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The Chief of Army Staff (COAS), Lieutenant General Waidi Shaibu, visited Jos, Plateau State, on Thursday, April 2, 2026, to lead a high-powered security assessment following recent security breaches.

The visit was aimed at strengthening public confidence and reinforcing ongoing efforts to stabilize affected communities.

Colonel Appolonia Anele, acting Director, Army Public Relations, said in a statement that the visit forms part of ongoing efforts to restore calm and entrench lasting peace across the state.

According to the statement, upon arrival, the COAS was received by the Executive Governor of Plateau State, Caleb Mutfwang, in a clear demonstration of strong civil-military cooperation and a shared commitment to addressing emerging security challenges.

The statement said the COAS received a comprehensive operational briefing from the General Officer Commanding 3 Division and Commander, Joint Task Force Operation ENDURING PEACE, Major General Folusho Oyinlola, who highlighted ongoing operations and proactive measures being implemented in synergy with other security agencies to contain threats, protect lives and property, and stabilise affected communities.

“As part of his engagements, Lieutenant General Shaibu also interacted with community leaders and residents, reassuring them of the unwavering commitment of the Nigerian Army to safeguarding all law-abiding citizens.

He urged residents to remain calm, vigilant and supportive of security agencies by complying with the curfew and cooperating fully with ongoing operations and investigations, while going about their lawful activities.

The chairman of Jos North Local Government Area, Hon. Dachung Bagos, commended the COAS for the timely visit, noting that the presence of the nation’s top military leadership would boost public confidence and reinforce trust in ongoing security efforts.

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