Business
Pace setting Fidelity Bank MD, Nneka Onyeali-Ikpe clocks 60
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
Business
Adron Games 2024 Unveiled: ‘Fit to Be the Biggest’ with Sports Icons Daniel Amokachi and Mutiu Adepoju Leading the Charge
Adron Games 2024 Unveiled: ‘Fit to Be the Biggest’ with Sports Icons Daniel Amokachi and Mutiu Adepoju Leading the Charge
Adron Homes & Properties is excited to announce the official unveiling of the 7th edition of the Adron Games, tagged “Fit to Be the Biggest”. The 2024 edition is set to take place at the renowned Lekan Salami Stadium, Adamasingba, Ibadan, from November 29th-30th, 2024, marking the second time the city of Ibadan will host the prestigious sporting event.
The Adron Games is a national platform designed to promote physical fitness, wellness, and community engagement through sports. Having previously held successful editions in Ogun and Lagos states, the 2024 edition is expected to attract over 10,000 athletes and fitness enthusiasts from across Nigeria.
The theme of this year’s Adron Games, “Fit to be the Biggest”, perfectly captures the spirit and ambition of the event. It signifies both the physical and metaphorical journey to greatness, where athletes, fitness enthusiasts, and even spectators are encouraged to embrace the challenge of becoming their best selves—physically, mentally, and competitively.
The theme also promotes the idea that fitness is essential to achieving greatness, whether through competitive sports or in everyday life. It motivates participants to push their boundaries and excel, whether on the field, court, or track, and ultimately reminds them that the journey toward fitness and excellence never stops.
This year’s games will feature a wide array of sporting disciplines, including Football, Basketball, Volleyball, Athletics, Table Tennis, Snooker, Shot Put, Long Jump, E-sports, and the fan-favorite Tug of War.
In a special highlight, Nigerian football legends Daniel Amokachi and Mutiu Adepoju have been announced as the official ambassadors of the event. Both are renowned for their contributions to Nigerian football and are expected to inspire athletes and spectators alike with their presence.
Key Event Highlights:
• Event Dates: November 29th-30th, 2024
• Venue: Lekan Salami Stadium, Adamasingba, Ibadan
• Ambassadors: Daniel Amokachi, Mutiu Adepoju, Vanessa Jones and MC Relax
• Sporting Events: Football, Basketball, Volleyball, Athletics, Table Tennis, Snooker, Shot Put, Long Jump, E-sports, and Tug of War
• Special Guests: Sports icons, fitness personalities, and celebrity appearances
• Participants: Over 10,000 athletes and fitness enthusiasts
• Prizes: Cash prizes, trophies, and awards for winners in various categories
Speaking at the unveiling, Daniel Amokachi emphasized the importance of corporate sponsorship in fostering young Nigerian talents, praising Adron Homes for their commitment to promoting sports.
He said “Sports in Nigeria need more support from businesses and brands to help discover and nurture talents among our youth. Organizations like Adron Homes, through their consistent support of sports, are boosting Nigeria’s global sports performance,” Amokachi said.
Meanwhile, Mutiu Adepoju lauded the unifying and transformative power of sports and commended Aare Adetola Emmanuelking, Group Managing Director of Adron Homes, for his unwavering commitment to organizing this event annually. “Sports is a powerful tool for unity and fitness, both physically and mentally. I commend Aare Adetola Emmanuelking for his continuous support of sports by organizing this prestigious event. His dedication is vital to the development of sports and the empowerment of youth in Nigeria,” Adepoju remarked.
it will be recalled that, Adron Games is an annual sporting event organized by Adron Homes & Properties to promote physical fitness, wellness, and community engagement through sports. Since its inception, the event has grown into a major national platform, bringing together thousands of athletes, corporate teams, and fitness enthusiasts in the spirit of competition and fun.
Adron Homes, through this sporting event, encourages everyone to view fitness and sports as key to unlocking personal and communal growth, building healthier lifestyles, and fostering unity across different regions, backgrounds, and demographics. “Fit to be the Biggest” represents not only the size and scope of the event but also the opportunity for everyone involved to elevate themselves and inspire others through the power of sport.
For more information, sponsorship, vendor registration and inquiries, please contact: Abiodun 08138432335
Adeboye Abiodun
Mnipr, Acicrm
Digital Operations and Media Relations Officer
Adron Homes and Properties Limited.
08138432335
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