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NIGERIA: Fidelity Bank Plc discloses retirement and appointment of Directors

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

Foremost Nigerian commercial bank, 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 disclosed the subsequent appointment of three new Non-Executive Directors to replace outgoing Board Members via a press release signed by the Bank’s Secretary, Ezinwa Unuigboje, and made available to the Nigerian Stock Exchange Market.

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.

Image Source: Street Journal

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.

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

Mrs Onwughalu and Mr Nwekes's appointments 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.

Nigeria In Focus:

Population: 206.6 million (Compared to South Africa's 59.6 million)

GDP: $504.57 billion (Compared to South Africa's $369.85 billion)

GDP Per Capita: $2,465 (Compared to South Africa's $6,193)