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Fidelity Bank’s FY 2024 Performance Praised By Shareholders
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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Makinde Only In PDP Because He’s Not Seeking Re-election – Otitoju
Babajide Kolade-Otitoju, the Director of News at TVC News, recently stated that Oyo State Governor Seyi Makinde would likely have defected from the People’s Democratic Party (PDP) if he was still serving his first term.
Otitoju stated this on Friday on TVC’s ‘Breakfast Show’.
He described the National Convention of the Peoples Democratic Party, PDP, in Ibadan last November as a mere waste of time.
“People must show good judgment at a critical phase. What was the point of having that convention? Two courts told you not to go ahead but you went ahead.
“I may not be a fan of former Senate President Bukola Saraki but if he says something that makes sense, I will be the first to admit it. He made sense when he said let’s go for caretaker. What’s the point of not listening to him?
“Later you will be shouting that the ruling party is behind your crisis, meanwhile you are the architect of your own misfortunes. You created this problem.
“If Makinde were in his first term, he would have fled like the dancing governor because his second term would have been in danger,” Otitoju said.
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Terror Surge: Tinubu Demands Results from Security Chiefs
President Bola Tinubu met with security chiefs, including Tunji Disu, the inspector-general of police (IGP) in a closed-door session on Thursday to address a series of “rising terror attacks” across the country.
The meeting followed an escalation in violence, including recent deadly raids in Benue, Plateau, and Borno states.
The nearly two-hour meeting, held at the State House in Abuja, began in the afternoon after the security chiefs arrived discreetly and ended around 5:10 p.m.
Those in attendance included Christopher Musa, minister of defence; Nuhu Ribadu, national security adviser (NSA); Adeola Ajayi, the director-general of the Department of State Services (DSS); and Olufemi Oluyede, chief of defence staff (CDS).
Others were Waidi Shaibu, the chief of army staff; Kelvin Aneke, chief of air staff; and Idi Abbas, chief of naval staff.
As of the time of filing this report, details of the meeting had yet to be issued by the presidency.
However, there are indications that the sit-down may centre around the rising terror attacks and intensified assaults on military outposts across Nigeria, particularly in the north-east, which culminated in the recent killing of several high-ranking officers.
On Monday, a commanding officer of the Nigerian Army was killed following an attack by suspected fighters of the Islamic State West Africa Province (ISWAP) on a military base in Kukawa, Borno state.
The attack came about a week after suspected Boko Haram and ISWAP fighters attempted to attack military positions in Ngoshe, Gwoza LGA of Borno.
On Tuesday, Nigerian troops repelled an early-morning attack by suspected ISWAP fighters on a military base in Doron Baga, Kukawa LGA of the state.
Speaking during an interfaith breaking of the fast with members of the Nigerian Armed Forces at the presidential villa in Abuja last Friday, Tinubu said the country would “ultimately prevail against all forms” of insecurity.
The president said the efforts of the security forces had continued to weaken terrorist groups and bandits operating in different parts of the country.
He assured the armed forces of continued investment in modern equipment, intelligence, and logistics to strengthen their operational effectiveness.
News
2027 Shakeup: 12 Lawmakers Defect To APC, ADC
In a major political shake-up on Thursday,12 members of the House of Representatives formally defected from their various political parties to the All Progressives Congress (APC) and the African Democratic Congress (ADC).
The Deputy Speaker, Benjamin Kalu, announced the defections during a plenary session, citing internal party crises and leadership disputes as the primary reasons for the lawmakers’ exit.
Of the 12 lawmakers who defected, six left the Peoples Democratic Party for the APC. Five members abandoned the Labour Party and the PDP for the ADC, while one member moved from the Young Progressives Party to the ADC.
The development has heightened concerns about growing instability within political parties ahead of the 2027 general elections.
Those who defected from the PDP to the APC are James Barka (Adamawa), Kwamoti Bitrus Laori (Adamawa), Zakaria Nyampa (Adamawa), Kobis Thimnu (Adamawa), Midala Balami (Borno), and Mohammed Bargaja (Sokoto).
Lawmakers who defected to the ADC include Afam Victor Ogene (Anambra), Peter Aniekwe (Anambra), Lilian Orogbu (Anambra), Jessey Onakalusi (Lagos), and Murphy Osaro Omoruyi (Edo).
The Deputy Speaker of the House, Benjamin Kalu, who presided over plenary, disclosed that some other members had also written to the leadership of the House notifying it of their intention to leave their current parties.
He, however, said the letters and the destination parties of the lawmakers would not be disclosed in their absence.
While announcing the names of the defectors, Kalu said the reasons given by the lawmakers were similar to those previously cited by others who had defected. He added that the House would not read the letters during the session in order to save time.
According to him, the letters would only be read when the concerned lawmakers are present on the floor of the House.
During Wednesday’s plenary, Garba Inuwa and Abdullahi El-Rasheed from Gombe, as well as Mohammed Audu (Taraba) and Joshua Obika (FCT), defected to the APC, while Adewale Adebayo (Osun) left the PDP for the Accord Party.
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