I first met Johnson Ememandu through high-profile London-based Yemi Edun at a function in VI, Lagos
He had said, “ You should know Johnson, you will need him. I said ‘Okay‘ and shook his hand, and he gave me the warm banker’s smile, which was kinda, different – his eyes were warm.
We spoke briefly, and I walked away.
We had dealings in London where he had come with his then MD to represent his firm at my Investment summit which had Emir Sanusi speaking.
Then the news hit the markets – Johnson was now at Fidbank UK.
Fidbank UK was the latest metamorphosis of loss-making Union Bank UK.
Nigeria’s Fidelity Bank had acquired it and was looking to transform it into an aggressive market cruncher, and it was to Johnson that they turned.
The new entity was making losses in its first two years of operation under the Fidbank brand structure, and the GMD of Fidelity Bank was simply very impatient and made a surgical strike.
The moment Johnson arrived, the markets felt the impact.
This is a coup, I told her, and she smiled.
Dr Nneka Onyeali-Ikpe, if you know anything about her, does not joke with performance.
Since she took over at Fidelity, the Bank has been threatening the five giants that make up the FUGAZ commune.
She has shown that corporate shyness is no part of her ethos as she continues to push very boldly into market depths that were reserved for the very elite.
Her perseverance and strategic intent continue to show on the bottom line, where it all matters.
It is with this same naked-eyed pursuit of market leadership that made her zero in on Johnson, whose reputation as a hard-nosed but superbly cerebral International banker had been built over the years through grit and remarkable boldness.
I sat in the darkened theatre in Central London where my Play Kashimawo was playing, looking very intently at Johnson, who had come with a motley crowd of clients and associates.
He smelt of success and his confidence was palpable as he continued pawing at his phone most likely closing or directing a transaction.
Johnson is part of a rare breed of bankers, the type they no longer curate in the space.
Sitting across from him at his well-apportioned suite at the super popular Signature Suites of the Eko Hotel, I could sense a man who had his figures but was not resting on his laurels.
From a £275 million balance sheet size at his resumption, the company closed the year at £450m and is said to be trending at about £550 million.
What are you doing differently? I asked him.
He sits up, looks at me squarely in the face – Edgar, we are only deepening engagements in our service offerings – buy-to-let real estate, trade finance, treasury and intermediation at the FI market.
Discussions with people like Johnson remind me of discussions with such banking geniuses like Tope Fasoranti, Aigboje Aig Imoukhuede, Mustapha Chike Obi and Uche Orji formerly of the Sovereign Wealth Fund- these people know their onions, and five minutes with them is a Masterclass.
Johnson took me through the rudiments of international banking, FIDBank’s unique engagement strategy, its market focus and its brilliant stakeholder management which saw them having a Board Retreat here in Lagos with their Board members and key management staff being hosted by top-tier traditional rulers who rolled out the drums
I watched him cross his legs and fired again – Johnson, you guys were booking a loss of £2.2 million in 2024 and now your PBT is approaching the £1 million mark at £920 million; what exactly are you doing differently? I doubled down.
He smiles – intensity, rigour, customer-at-heart delivery and leveraging parental relationship – there it is, the tie.
So the brilliance of Dr Onyeali-Ikpe’s performance in the home country now provides Johnson’s team the much-needed firepower to push into his double-edged cross-continent markets with extremely brilliant results.
He also mentioned another key strategy – supporting tier 2 local banks in providing them intermediate trade finance services.
It is no wonder that this performance has caught the attention of both the British Prime Minister and King Charles as FIDbank was extolled in their speeches during President Tinubu’s last State Visit to the UK.
What is your endgame? I asked as the conversation was coming to an end, building a legacy he gleefully mentioned.
Edgar, at this level, it’s no longer about the money…I believe.
Fidbank is a wholly owned but independently run subsidiary of Nigeria’s Fidelity Bank Plc for those of you who do not know.
What this means is that although it is 100% owned by our Fidelity Bank of Nigeria, with its GMD Dr Onyeali-Ikpe, being its Chairman, its regulatory obligations are squarely positioned towards UK regulatory authorities.
As I make my way out of the bustling Signature Suites, I stumble on the Governor of Kogi State – Ododo, and the stark contrast in cerebral disparity between who I just had a chat with and this one shoving me aside to take an elevator ride hits me – the beautiful ones like Johnson have been born; they just create their magic outside of Public office.
Come and beat me.
