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Fidelity Bank Approves 22 Kobo Dividend Per Share For FY2020

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Fidelity Bank Approves 22 Kobo Dividend Per Share For FY2020

The shareholders of Fidelity Bank Plc have unanimously endorsed the payment of a cash dividend of 22 kobo per share to all Shareholders whose names appear in the Register of Members at the close of business on April 16, 2021. This translates to a dividend yield of 9.2%, making it the 4th most rewarding Bank to investors in the Nigerian Capital Market. This announcement was made at the 33rd Annual General Meeting (AGM) held in Lagos on April 30, 2021.

Shareholders who spoke at the event praised the Board of Directors and the management team for the 38.7 percent increase in total customer deposits, which rose from N1,225.2 billion in 2019FY to N1.699.0billion and was driven by strong double-digit growth in both local and foreign currency deposits.

Mustapha Chike-Obi, Chairman of the Board of Directors of Fidelity Bank, reassured shareholders at the AGM that the board and management of the bank would maintain the high corporate governance standard synonymous with Fidelity Bank and also ensure the bank continued in its growth trajectory in the years ahead.

“We will continue to strengthen our enterprise risk management capabilities to ensure the sustainability of our business, while modeling our governance practices to align with international best practice”, said Chike-Obi.

Mrs. Nneka Onyeali-Ikpe, Fidelity Bank CEO echoed the Chairman’s sentiments, stating that the bank’s financial performance for the period reflected the resilience of its business model in a challenging operating environment.

Mrs. Ikpe revealed that local currency deposits grew by 49.6 percent to N1,400.8 billion and constitutes 82.5 percent of total customer deposits while foreign currency deposits grew by 3.3 percent to N298.2 billion and now accounts for 17.5 percent of total deposits.

She further highlighted that the bank’s retail banking push continued to deliver impressive results as total savings deposits increased by 54.2 percent to N424.4 billion, making it the 8th consecutive year of recording double-digit growth in savings deposits. Total savings deposits now account for about 25.0 percent of total deposits, an attestation of the Bank’s increasing market share in the retail market segment.

Speaking on the strategy for the current financial year, Mrs. Onyeali-Ikpe, said, “We will continue to focus on redesigning our systems and processes to enhance service delivery, deepen our cost optimization initiatives to reduce operating expenses, and enhance our overall risk monitoring capabilities to ensure both internal and external risks are identified and mitigated. Our growth aspirations will be sustained while we continue to identify new opportunities in the new normal.

“On the back of the evolving dynamics in the economy, we will continue to increase the adoption and migration of customers to our digital platforms and increase our retail banking market share through innovative products and services”, she concluded.

The shareholders expressed their continued confidence in the Bank for its 2020 performance which saw a 50.9 percent increase in core operating profit to N44.9 billion. The share price also rallied 22.9 per cent, outperforming the Nigerian Stock Exchange (NSE) Index, which only gained 10.1 percent. According to Mrs. Onyeali-Ikpe, the Bank showed “strong resilience to the adversities the global economy witnessed in 2020”.

Speaking at the meeting, Dr Farouk Umar, President, Association for the Advancement of the Rights of Nigeria Shareholders, commended the bank for posting encouraging performance in 2020 despite the challenges of the COVID-19 pandemic.

Umar appreciated the bank for paying dividend the same day of the Annual General Meeting unlike their peers in the industry that pay dividends a day after the AGM. Also speaking, Mrs Bisi Bakare, National Coordinator, Pragmatic Shareholders Association of Nigeria, commended the bank for declaring dividend in spite of unfriendly economic environment and the COVID-19 pandemic challenges. Bakare who welcomed Mrs. Onyeali-Ikpe and Mr. Chike- Obi, urged them to sustain the growth and ensure higher dividend in the years ahead.

In compliance with the guidelines of the Corporate Affairs Commission’s (CAC), the meeting was held by proxy and had in attendance very few shareholders because of the COVID-19 precautionary measures.

Onyeali-Ikpe thanked the shareholders and the members of the Board for their continued confidence in the management team and specially appreciated Fidelity Bank customers for their patronage and loyalty.

Fidelity Bank began the year on a positive note having recorded a strong financial performance in the first quarter of 2021, posting appreciable growth in profit for the period ended March 31, 2021.

Details of the unaudited results showed that its profit before tax (PBT) grew by 53.9 per cent from N6.6 billion in the corresponding period in 2020 to N10.1 billion in the period under review. Similarly, net revenue in the period increased by 13.4 per cent from N30.3 billion in the first quarter (Q1) 2020, to N34.4 billion at the end of March 2021. The bank also recorded growth in other performance indices.

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WFA APPOINTS GLOBAL BRAND EXECUTIVES TO EXPANDED LEADERSHIP COMMITTEE

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WFA APPOINTS GLOBAL BRAND EXECUTIVES TO EXPANDED LEADERSHIP COMMITTEE

 

STOCKHOLM — The World Federation of Advertisers (WFA) has announced the appointment of senior executives from leading global brands to its Executive Committee, in a move aimed at strengthening its global influence and industry coordination.

The appointments were unveiled during the WFA Global Marketer Week held in Stockholm.

The new members, drawn from top multinational corporations, include executives from Driscoll’s, Haleon, IKEA and Nissan. They join an already influential body comprising marketing and corporate affairs leaders from major companies such as Best Buy, Danone, Diageo, Grab, Kenvue and Tata Group.

Also joining the Executive Committee are representatives of key advertiser bodies, including Josh Faulks, Chief Executive Officer of the Australian Association of National Advertisers; Simon Michaelides, Director General of the Incorporated Society of British Advertisers; and O’tega Ogra, Vice President of the Advertisers Association of Nigeria and Senior Special Assistant to the President of Nigeria on Digital Communications, Engagement and New Media Strategy.

WFA President David Wheldon and Deputy President Philip Myers of Ferrero will continue in their roles, alongside all regional vice presidents.

The newly appointed members are:

Jiunn Shih, Global Chief Marketing Officer, Driscoll’s

Silas-Lewis Meilus, Global Head of Media Operations, Haleon

Joel Renkema, Global Head of Insights, IKEA

José Román, Corporate Executive, Global Sales and Marketing, Nissan

Josh Faulks, CEO, AANA

Simon Michaelides, Director General, ISBA

O’tega Ogra, Vice President, ADVAN

Industry observers say the expanded committee reflects WFA’s commitment to deeper global collaboration and stronger representation across regions and sectors within the marketing and advertising ecosystem.

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FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS

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FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS

 

The Chief Press Secretary (CPS) to the Chairman of the Independent National Electoral Commission (INEC), Mr. Adedayo Oketola, has said that a purported X (formerly Twitter) account attributed to the Commission’s Chairman, Prof. Joash Ojo Amupitan, SAN, is fake and part of a coordinated disinformation campaign.

 

In a public statement issued on Monday in Abuja, Mr. Oketola disclosed that a comprehensive, multi-layered forensic investigation conducted by independent cybersecurity experts has conclusively established that the INEC Chairman does not operate any personal X account.

 

He said, “The Independent National Electoral Commission (INEC) , committed to a full forensic investigation, commissioned an independent forensic cybersecurity expert, who conducted a multi-layered forensic and digital investigation using X platform data, internet archive records, OSINT tools, identity forensics and cross-platform analysis.”

 

Oketola stressed that all posts, replies, and screenshots linking him to the handle @joashamupitan are fraudulent, forensically unverifiable, and technically impossible.

 

The controversy began on April 10, 2026, when viral social media posts alleged that the Chairman made a partisan comment — “Victory is sure” — in response to another user, supported by screenshots and purported digital records.

 

However, the CPS said the forensic investigation uncovered clear evidence of fabrication and impersonation, highlighting the following key findings:

 

· No Digital Linkage: There is no connection between the disputed X account and Prof. Amupitan’s verified email addresses or phone numbers, as multiple recovery and verification attempts failed to establish any link.

 

· False BVN/OPay Claims: Data used to suggest ownership of the account only confirms identity and does not establish control of any social media handle, making such claims a logical fallacy.

 

· Timestamp Manipulation: The alleged reply “Victory is sure” was posted 13 minutes before the original tweet it responded to—an occurrence that is technically impossible and definitive proof of fabrication.

 

· No Historical Record: Searches on the Internet Archive’s Wayback Machine showed zero evidence of the account or its alleged activity prior to April 2026.

 

· Non-Existence on X Platform: Live checks confirmed that the alleged reply does not exist and has never existed on the platform.

 

· Account Renaming Pattern: On the same day the screenshots went viral, the account was renamed @sundayvibe00, set to private, and labelled a “parody account,” indicating deliberate impersonation and damage control.

 

· Coordinated Multi-Platform Impersonation: At least seven fake accounts across Facebook and Instagram using the Chairman’s identity were identified, pointing to a sustained disinformation effort.

 

“The forensic evidence is comprehensive, multi-sourced, and unambiguous. The posts attributed to Prof. Joash Ojo Amupitan on X are fabricated. The account is a clear case of impersonation,” Mr. Oketola said.

 

Quoting one of the independent investigators, he described the development as “a coordinated digital impersonation and disinformation campaign,” warning that advances in artificial intelligence had made it easier to fabricate misleading content.

 

He urged the public to avoid sharing unverified information, noting that “the fact that content goes viral does not make it authentic,” and called on media organisations to prioritise accuracy over speed.

 

Mr. Oketola said the independent forensic report had been referred to the law enforcement agencies for necessary action. He also appealed to law enforcement agencies to investigate the origin of the fake account and prosecute those responsible under the Cybercrimes (Prohibition, Prevention, etc.) Act.

 

He said, “Media organisations, in particular, have a duty to apply strict forensic verification standards to social media posts and screenshots before publishing them, especially when such content implicates public officials or carries serious consequences for public trust and institutional credibility. Accuracy, not speed, must guide reporting in matters of this nature.”

 

He reiterated that all official communications from INEC are disseminated exclusively through its verified platforms, including its website (www.inecnigeria.org), verified X account (@inecnigeria), official Facebook page, online news portal (www.inecnews.com), formal press statements from its headquarters in Abuja, and official media briefings. Any account purporting to represent the INEC Chairman in a personal capacity, he said, should be treated as fraudulent unless formally verified by the Commission.

 

FORENSIC INVESTIGATION REVEALS FABRICATED X ACCOUNT TARGETING INEC CHAIRMAN – CPS

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How FirstBank is investing in Its People and Building Future Leaders

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FirstBank Set to Launch Tailored Financial Services for Blind and Physically Challenged Customers  

How FirstBank is investing in Its People and Building Future Leaders

For an average 9-5er, having a job isn’t enough. You want a career that grows with you, gives you stability, and opens doors to bigger opportunities. People everywhere are looking for workplaces that don’t just pay salaries but actually invest in their staff, helping them learn, lead, and succeed.

That’s exactly what FirstBank is doing. The Bank is building a future where every employee has the opportunity to grow, lead, and thrive. Through its human capital management and development agenda, FirstBank is creating numerous pathways for staff to transform their careers and become tomorrow’s leaders.

Conversion Programme: Turning Opportunities Into Careers

Needless to say that there is no desire for the 9-5er to remain in a temporary role when they can secure a full-time career. With FirstBank’s Conversion Programme, eligible non-core employees who have served for at least one year can transition into permanent positions. This initiative ensures that hardworking staff are rewarded with stability, growth, and the chance to contribute more meaningfully to the Bank’s success.

Leadership Programmes: Grooming the Next Generation

FirstBank has designed three flagship programmes to identify and nurture high-potential talents:

  • FirstBank Management Associate Programme (FMAP): A 24-month fast-track initiative that grooms future middle managers. Upon completion, participants are promoted to Assistant Manager grade, regardless of their previous grade.
  • Leadership Acceleration Programme (LAP): Focused on preparing internal middle-management talents for leadership responsibilities, ensuring the Bank’s succession pipeline remains strong.
  • Senior Management Development Programme (SMDP): A programme for senior managers who are proven leaders in their functions and critical to the Bank’s succession plan.

These programmes are not just training—they are career accelerators, designed to put staff on the fast lane to leadership.

FirstAcademy: Learning With Global Standards

Backing these initiatives is FirstAcademy, FirstBank’s corporate university, accredited by the Chartered Institute of Bankers of Nigeria (CIBN).

Staff also benefit from partnerships with institutions like Rome Business School and Association of Chartered Certified Accountants (ACCA), gaining access to world-class training—often at discounted rates

A Workplace That Values People

FirstBank’s parent company, First HoldCo PLC, was named second in the Best Workplaces in Financial Services in Nigeria. The Bank remains firmly committed to responsible employment practices, ensuring that all colleagues are treated with dignity, fairness, and respect.

The Future Is Human

With these initiatives, FirstBank is showing that its greatest investment is its people. By empowering staff through various growth opportunities, the Bank is not just building a workforce, it is cultivating leaders who will shape the future of banking in Nigeria and beyond.

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