WHO IS AFRAID OF FIDELITY BANK -By Udeme Etukeyen

Leading up to the recent superlative annual reports showcasing one of the most significant growth experienced by a Nigeria Financial Institution in recent years I was forced to ask “what is Fidelity Bank” doing right?

My banking and financial sector experience got me digging deeper into the statistics of the report-Fidelity Bank recorded a substantial 210.0% growth in PBT, reaching N385.2 billion in FY 2024. Deposits increased by 47.9%, from N4.0 trillion in 2023FY to N5.9 trillion in 2024FY, Gross earnings shooting by 87.7% to N1,043.4 billion which was primarily caused by a 106.9% increase in interest and similar income. Was I impressed? Absolutely

Now to the scary part, they opened the year with a bang implying that 2025 year end results was going to be nothing but spectacular; check this out-Fidelity reported a whooping 167.8% increase in PBT (Profit Before Tax)to N105.8 billion in Q1 2025, compared to N39.5 billion in Q1 2024. Gross earnings from January to April had reached some N315.421 billion signaling a 64.21% increase year-on-year.

These results were nothing short of astonishing and with great hope I sat my team to review our Investment Strategy to accommodate taking up equities in Fidelity and advising our portfolio investors to do same.

We quickly appraised the fundamentals and Key Success Factors to include their focus on the strategic youth economy that the Creative and Digital Transformation sector promises, the banks bullish inroads in MSME promotion and financing, their glowing penchant for Gender inclusion without abandoning the core sectors of Mining, Renewables and other key industries

Then came the dissecting of Leadership, my team of analysts mostly female went on about Fidelity MD being one of the most experienced and affable Amazons in the industry; done this, achieved that and all the entreaties you’d expect from smart ladies who feel mentored from a distance. I didn’t hesitate to draw their attention to the experience of the menfolk within the organization like I had any measurable data to establish that mix…truth remains you can’t but admire the Banks Leadership and strides

A deeper look at the banks expansion globally could reveal a strategic and noiseless acquisition of Union Bank,London and their planned incursion into African and other European financial markets, you just can see that such daring strides and impact would give competition and detractors sleepless nights. Not in an era where sleeping pills are sold strictly by prescription and no thanks to the high cost of medication for peddlers of cheap propaganda

Within barely 30days of announcing such magnificent results little wonder how pundits would cook or spin a narrative to suggest a bank that has announced herself as First Tier with shoulders leveled up with other Banking giants would shudder over a judgement against her customer G.Cappa or even the contribution they would be required to cough out over that said Sagecom saga. With that judgement not going the way of pundits a contemptuous attempt at calculating interest at unclassified rates from an initial N14b to cause an unnecessary scare or negative press on the bank speaks volumes of how we unrepentantly strive to destroy value in our economy.

One would think that interpretation of the judgment and computation of due figures which will understandably come with a payment plan be awaited instead of the usual bad blood generated and envisaged by toddler media characters.

It is not in doubt that the discerning public sees through the cruise and flat falling attempt of dramatic clout chasers ever ready to stain Fidelity’s white apparel which savvy Investors and analysts are filled with bridal admiration

Like Joseph Campbell hinted in his famous quote “The cave you fear to enter holds the treasure you seek.” We cast our treasures and bets on Fidelity Bank as the Nigerian treasure house to beat in the years ahead!

*Udeme Etukeyen is an Abuja based Pan African Investment Advisory Expert*

Jemras Homes Unveils Treasure Mall in Lekki with a Star-Studded Grand Opening Ceremony

Jemras Homes, one of Lagos’ fastest-growing real estate firms, held a vibrant and star-studded grand opening of its debut commercial property, Treasure Mall, on Thursday, May 15, 2025, at Abijo GRA, Lekki-Ajah.

The colourful ceremony brought together top political figures, industry leaders, celebrities, and business stakeholders to celebrate the launch of this landmark development.

The event was graced by notable personalities, including Hon. Moshood Aro, member of the Lagos State House of Assembly; Hon. Fatiu Salisu, the immediate past Chairman of Ijede LCDA; and veteran actor and brand ambassador of Jemras Homes, Alhaji Taiwo Hassan, popularly known as Ogogo.

While addressing the press, Ogogo shared his deep connection with the brand “My relationship with Jemras Homes goes beyond mere brand representation — it’s a partnership rooted in trust, shared values, and a commitment to excellence. I believe in what the company stands for and the vision it’s bringing to life in the Nigerian real estate space.”

The Founder of Jemras Homes, Mr. Tayo Razaq, also delivered a heartfelt speech during the event, describing the company’s mission and the long-term value Treasure Mall offers “Treasure Mall is more than a building — it is a statement of our dedication to quality, innovation, and strategic investment. We are creating not just spaces, but opportunities that empower businesses and elevate communities.”

The grand opening was a lively affair, complete with music, entertainment, and testimonials from satisfied clients and partners who praised the transparency, quality, and professionalism of Jemras Homes. The atmosphere reflected the company’s growing reputation for delivering smart and stylish real estate developments.

Treasure Mall is a 1,350-square-meter, three-floor commercial complex offering business spaces ranging from 25 to 110 square meters. Located in the heart of Lekki’s flourishing Abijo GRA, it features ample parking, 24/7 security, and cutting-edge infrastructure — ideal for retail outlets, cafés, restaurants, and office spaces.

Strategically positioned near landmarks such as Lagos Business School, Novare Mall, and over 15 private estates, Treasure Mall also shares a boundary with the soon-to-be-completed Treasure 2 Residence — adding significant residential appeal to the area.

With this successful launch, Jemras Homes has not only unveiled a premium commercial destination but also reinforced its position as a visionary leader in Nigeria’s real estate sector.
[5/16, 8:41 AM] Peace: Pix

Nigerian Excellence in Medicine: Dr. Dennis Agbazue Makes History in South Africa with Groundbreaking Spine Surgery

By George O. Sylvester

On March 22, 2025, a new chapter was written in the annals of spinal surgery in South Africa. In what medical professionals are hailing as a major breakthrough in minimally invasive spine treatment, Nigerian-born orthopaedic and spinal surgeon, Dr. Dennis Agbazue, successfully performed Gauteng Province’s first fully endoscopic lumbar spinal decompression and fusion at Mediclinic Vereeniging. This landmark procedure has not only redefined the surgical possibilities within the province but has also elevated South Africa’s standing in the realm of advanced spinal care. More importantly, it represents the growing global footprint of Nigerian professionals who are transforming lives and industries in their host countries.

The patient, a 55-year-old male suffering from spondylolisthesis; a condition where one vertebra slips over another, often causing debilitating nerve compression and spinal stenosis underwent a complex yet precise surgical procedure executed entirely through two tiny incisions. Known as the bi-portal endoscopic technique, this method allows for bilateral laminectomy (removal of part of the vertebral bone), disc removal and spinal fusion all done with minimal disruption to muscle and tissue. This technique, relatively new in South Africa, reduces hospital stay, speeds up recovery and offers patients immediate relief from pain.

This is a monumental stride, not just for Mediclinic Vereeniging but for the entire province of Gauteng. Until now, endoscopic spinal surgeries, especially bi-portal decompression and fusion, were rarely performed in the region due to their high level of technical difficulty and the need for specialized training and equipment. Dr. Agbazue’s success now opens the door to a future where such procedures become commonplace, benefiting thousands of patients suffering from chronic spinal conditions.

A Surgeon of Many Firsts
Dr. Agbazue is not new to trailblazing. Since 2022, he has emerged as one of the few spinal surgeons in South Africa proficient in both uni-portal and bi-portal endoscopic spinal techniques. His journey into endoscopic spine surgery began with the uni-portal approach, a technique that involves a single incision for both visualization and surgical instruments. Since adopting it, he has successfully completed approximately 330 cases, earning him accolades from both peers and patients.

What sets him apart is not just his technical expertise, but his commitment to patient-centered care and surgical innovation. The transition to the bi-portal technique in 2024 allowed Dr. Agbazue to tackle more complex spinal conditions with enhanced surgical visibility and dexterity. Unlike open surgery, which often requires long incisions and extended recovery periods, the bi-portal method uses two small portals, one for a camera and another for surgical tools enabling more precision and less trauma to surrounding tissues.

“This technique represents the future of spine surgery,” Dr. Agbazue noted. “We are now able to offer patients the best of both worlds: surgical efficacy and a rapid return to normal life. It’s truly transformative.”

Building a Hub of Excellence in Vereeniging
Since leading the first endoscopic spinal surgery at Mediclinic Vereeniging on August 9, 2022, Dr. Agbazue has been instrumental in transforming the facility into a center of excellence for minimally invasive spine care. By March 2024, he had performed over 200 successful endoscopic spinal procedures, with outstanding outcomes and low complication rates.

His collaboration with Q Surgical, a medical instrumentation firm, has played a pivotal role in advancing the hospital’s capabilities. Together, they have introduced state-of-the-art endoscopic equipment and surgical tools, ensuring that local patients receive world-class care without the need to travel abroad.

As a result, Mediclinic Vereeniging has seen an influx of patients from across Gauteng, including metropolitan hubs like Johannesburg and Pretoria, seeking treatment under Dr. Agbazue’s expert care. For many, this represents not only hope but a second chance at life free from the chronic pain and disability associated with spinal disorders.

Representing Nigeria with Pride
At a time when negative narratives often dominate discussions about Nigeria and its citizens abroad, individuals like Dr. Dennis Agbazue offer a powerful counter-narrative. A proud Nigerian, Dr. Agbazue embodies the resilience, intellect and work ethic that define the best of the Nigerian spirit. His achievements are not isolated; rather, they are part of a broader wave of Nigerian professionals excelling globally in medicine, law, academia, technology and business.

From the corridors of Johns Hopkins and Mayo Clinic in the United States to the consulting rooms of top hospitals in the UK, Canada and Australia, Nigerian doctors have built a formidable reputation for excellence. According to a 2021 report by the UK’s General Medical Council, over 7,000 Nigerian-trained doctors were registered to practice in the UK, one of the largest contingents of foreign-trained doctors. In the United States, Nigerian-Americans are among the most highly educated immigrant groups, with medicine ranking among the top professions.

In South Africa, despite facing xenophobic challenges, Nigerians like Dr. Agbazue continue to distinguish themselves through competence and integrity. They fill critical gaps in healthcare and education and contribute to national development in quiet yet powerful ways.

The Global Shift Toward Minimally Invasive Surgery
Dr. Agbazue’s success must also be seen within the global context of medical innovation. The past two decades have seen a seismic shift from traditional open surgeries to minimally invasive procedures across all specialties. Spinal surgery, once known for long recovery periods and high complication risks, has now embraced technologies such as robotics, navigation systems and endoscopic tools.

In endoscopic spinal surgery, the benefits are indisputable. Studies published in peer-reviewed journals such as The Spine Journal and Journal of Neurosurgery: Spine have shown that endoscopic techniques result in less blood loss, shorter operative times, lower infection rates and faster functional recovery compared to open surgery. This approach is particularly beneficial for older patients or those with comorbidities who might not tolerate extensive surgery well.

Dr. Agbazue’s use of bi-portal endoscopy aligns South African spinal care with these international best practices, giving local patients access to treatment modalities previously reserved for developed countries.

A Call to Celebrate Nigerian Excellence
As Nigerians, we must learn to recognize, amplify and celebrate our own. In a world quick to highlight the failures and shortcomings of African professionals, stories like that of Dr. Dennis Agbazue remind us of our boundless potential. These are the narratives that must dominate our airwaves, newspapers and social platforms not only as a source of national pride but as an inspiration to young Nigerians at home and in the diaspora.

The future of Nigeria lies in the excellence of its people. Whether in medicine, innovation or public service, it is those who dare to push boundaries and defy odds that will shape our nation’s global identity. In Dr. Agbazue, we find one such individual a healer, a pioneer, and a worthy ambassador of the Nigerian dream.

Final note
The March 22 procedure at Mediclinic Vereeniging was more than a surgical first, it was a testament to the transformative power of skill, vision and perseverance. Dr. Dennis Agbazue’s achievement has not only raised the bar for spinal surgery in South Africa but has also positioned him as a beacon of excellence among Nigerian professionals abroad.

As we look to the future, may we continue to support and celebrate the likes of Dr. Agbazue, whose work reminds us that, regardless of where we come from, greatness knows no boundaries.