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Fidelity Bank Plc announces retirement and appointment of new Directors

Fidelity Bank Plc had announced the retirement of four Directors and the appointment of three new Directors.



Fidelity Bank non-Executive Director purchases 3.1 million shares

Fidelity Bank Plc has notified relevant stakeholders and the general public of changes in its Board including the retirement of 4 Directors (1 Executive and 3 Non-Executive Directors).

The bank also announced the subsequent appointment of three new Non-Executive Directors to replace outgoing Board Members.

This is according to a press release signed by the Bank’s Secretary, Ezinwa Unuigboje, and made available to the Nigerian Stock Exchange Market.

READ: Fidelity Bank to raise N50 billion in bonds in Q4 to refinance existing debts

  • Mrs. Aku Odinkemelu who joined the Board on August 4, 2014 as an Executive Director will be retiring by December 31, 2020 after six years of meritorious service.
  • Her retirement comes after playing a defining role in the transformation of the Bank, having covered the Commercial, SME, Consumer and Public Sector businesses of Fidelity Bank in the South-East and South-South regions.
  • She provided leadership for 90 business offices within the 11 states under her purview, with her directorate accounting for 31 per cent of deposits and 21 per cent of loans.
  • The other three Non-Executive Directors that will be retiring are; Chief Charles Umolu, who completed his tenure and retired from the Board on December 16, 2020; Mr. Michael Okeke, who also completed his tenure and retired on December 18, 2020; and Mr. Alex Ojukwu, who will retire on December 31, 2020 at the expiration of his tenure.

READ: Gender Balance, looking at the board composition of top banks on the NSE

READ: Fidelity Bank non-Executive Director purchases 3.1 million shares

In the same vein, Fidelity Bank Plc also announced the appointment of three Non-Executive Directors to replace outgoing Board members. The newly appointed Non-Executive Directors are;

  • Mrs Amaka Theodora Onwughalu is an experienced banking expert with over three decades of experience, having served in various capacities and financial institutions. She is an alumna of the University of Buckingham and Leeds Metropolitan University, both in the United Kingdom, where she obtained a Bachelors and Master’s degree in Economics and Corporate Governance respectively.
  • Mr. Nelson Chidozie Nweke currently serves as the Managing Director of Neilville Nigeria Limited and had an extensive career in the financial services sector. He is an alumnus of the University of Ibadan, where he obtained a Bachelors and Master’s degree in Political Science and Industrial and Labour Relations respectively.
  • Mr. Chinedu Okeke has over a decade experience in a succession of blue-chip companies, which includes Guinness Nigeria Plc, Lafarge, and General Electric, amongst others. He holds a B.Eng. Degree in Electronic Engineering from the University of Nigeria, Nsukka (UNN) and an MBA from Imperial College, London

READ: Another Fidelity Bank Non-Executive Director purchases 1 million shares worth N2.75million


What you should know

  • Mrs Amaka Theodora Onwughalu and Mr Nelson Nweke’s appointment as Non-Executive Directors were approved by the Central Bank of Nigeria on December 15, 2020, while that of Mr Chinedu Eric Okeke is still subject to the approval of CBN.

Chidi Emenike is a graduate of economics, a Young African Leadership Initiative Fellow and an Investment Foundations certificate holder. He worked as a graduate Teaching Assistant in the Federal College of Education Kano and is also a trained National Peer Group Educator on Financial Inclusion

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