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Shareholders Applaud Fidelity Bank for Exceptional Performance in 2022 FY

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Fidelity Bank announced in June 2022 that it has signed a contract to buy a 100% equity position in Union Bank UK.

Shareholders Applaud Fidelity Bank for Exceptional Performance in 2022 FY

 

Shareholders of leading financial institution, Fidelity Bank Plc, have commended the board and management of the bank for delivering an exceptional performance in FY 2022. This was made known at the bank’s 35th Annual General Meeting (AGM) held virtually on Tuesday, May 23, 2023.

Speaking at the AGM, the Chairman Emeritus of the Independent Shareholders Association of Nigeria (ISAN), Sir Sunny Nwosu applauded the bank’s management for “listening to shareholders and declaring an interim dividend”.

 

On his own part, National Chairman of The Progressive Shareholders Association Mr. Okezie Boniface lauded the bank for coming to customers’ aid during the period of the Naira redesign policy, explaining that the bank’s branches and Automated Teller Machines (ATM) always provided customers with Naira notes. He also commended the bank’s leadership for prioritizing Corporate Social Responsibility (CSR) initiatives across its focus areas of youth empowerment, health and social welfare, education and environmental conservation and sustainability.

According to the bank’s 2022 annual report uploaded on its website and distributed to shareholders, the bank grew by double digits along all the major indicators. Customer deposits increased by 27.4% from N2.0 trillion in 2021FY to N2.6 trillion. Net Loans and Advances rose by 27.6% from N1.7 trillion in 2021FY to N2.1 trillion in 2022 FY. Total Assets grew by 21.6% from N3.3 trillion in 2021 FY to N4.0 trillion in the period under review.

Giving his remarks at the meeting, Mr. Mustafa Chike-Obi, Chairman, Board of Directors, Fidelity Bank Plc said, “When we set the audacious target of attaining Tier 1 status a few years ago, we did not expect a smooth ride due to the endemic challenges in our operating environment. However, we were able to weather the storm because our business is built on a foundation of good corporate governance, effective risk management and shareholders’ value enhancement.

In response to a shareholder’s question on the deployment of capital raised during the recent private placement exercise, Mrs. Nneka Onyeali-Ikpe said, “The bank is growing in leaps and bounds and the capital would enhance our capacity to accommodate the business volumes coming our way. This is in addition to improving our technology especially in the light of the Cashless drive and creating more secured platforms that can handle the challenges posed by cybercrime.

Several resolutions were considered at the AGM including the declaration of a final dividend of 40kobo, re-election of non-executive directors -Mrs. Amaka Onwughalu and Chief Nelson Nweke, election of an Executive Director -Mrs Pamela Shodipo; amongst others.

Fidelity Bank is a full-fledged customer commercial bank operating in Nigeria with over 8million customers serviced across its 250 business offices and digital banking channels. The bank was recognized as the Best Payment Solution Provider Nigeria 2023 and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

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Fidelity Bank MD, Nneka Onyeali-Ikpe Gets National Award

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Fidelity Bank was Titled Best SME Bank in Nigeria at the 2022 Global Banking & Finance Awards

Fidelity Bank MD, Nneka Onyeali-Ikpe Gets National Award

The Chief Executive Officer of Fidelity Bank PLC, Nneka Onyeali-Ikpe, has been listed amongst the recipients of the 2023 national awards.

NaijaNews reports that according to the 2023 national awards list released by the Federal Government last weekend, Onyeali-Ikpe would be conferred with the award of the Officer of the Order of the Niger, OON.

The list also includes prominent names such as Emeka Anyaoku, First Lady, Oluremi Tinubu, Co-Founder of Tony Elumelu Foundation, Dr. Awele Elumelu; President of Transcorp Group, and Dr. Owen Omogiafo among others.

Also, former Governor of Osun, Bisi Akande; Olusegun Osoba; Mamman Daura, and Central Bank Governor, Godwin Emefiele, among others received Commander of the Order of the Federal Republic.

The OON award comes to join a list of recognitions Onyeali-Ikpe has received recently. It would be recalled that she bagged the awards of the Banker of the Year 2022 at the Champion Newspapers’ Awards of the Year 2022 earlier in May, the Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards in January 2023 as well as the Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards in April 2023.

She was also recognized as one of the top 10 female finalists in the Africa.com Definitive List of Women Chief Executive Officers (CEOs).

Onyeali-Ikpe joined Fidelity Bank as an Executive Director in 2015 and was appointed Managing Director/CEO of the Bank in January 2021.

Following her appointment, Onyeali-Ikpe became the first female MD/CEO in the history of the bank and one out of six other female CEOs in the industry.

Under Onyeali-Ikpe’s watch, Fidelity Bank grew its PBT from N25.22 billion in 2021 to N53.68 billion in 2022.

Furthermore, she guided the bank to obtain the approval of the Central Bank of Nigeria to expand its operations to the United Kingdom.

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Zenith Bank Wins ‘Best Corporate Governance Financial Services’ in Africa Award for the Fourth Consecutive Time

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Zenith Bank Wins ‘Best Corporate Governance Financial Services’ in Africa Award for the Fourth Consecutive Time

 

For the fourth consecutive year, Zenith Bank Plc has been named the Best Corporate Governance ‘Financial Services’ Africa 2023 by the Ethical Boardroom. The award, which was published in the Spring 2023 edition of The Ethical Boardroom magazine, is in recognition of the bank’s adherence to global best practices and institutionalization of corporate governance, setting an industry-wide example of best practices in that field.

 

Speaking on the recognition, the Group Managing Director/Chief Executive of Zenith Bank Plc, Dr. Ebenezer Onyeagwu, said: “I am extremely pleased that Zenith Bank has been awarded the Ethical Boardroom Corporate Governance award as a regional governance champion for the fourth year running. No doubt, the bank’s board has pioneered the exemplary governance culture for which we are now renowned.

 

“Indeed, this recognition reflects our steadfast commitment, discipline and high ethos in the conduct of our business and dedication to the principles of good corporate governance. This award will motivate us to strengthen this culture internally and advocate for good governance at every forum”.

 

He dedicated the award to the Founder and Group Chairman of the bank Jim Ovia, for providing the template for an enduring and very successful institution; the Board for their vision and outstanding leadership; the staff for their dedication and commitment; and the bank’s customers for their unwavering loyalty to the brand.

 

Ethical Boardroom is a trailblazing and leading international magazine that delivers in-depth coverage and critically-astute analysis of global corporate governance issues to help boards stay ahead of the governance curve.

 

Zenith Bank has been generally adjudged a Corporate Governance compliant bank by the Nigerian Exchange (NGX) hence it’s listing on the Premium Board of the Exchange. The bank continues to sustain this reputation and reappraise its processes to ensure that its business conforms to the highest global standards at all times.

 

The bank’s track record of excellent performances has continued to earn it numerous awards including being recognized as the Number One Bank in Nigeria by Tier-1 Capital, for the 13th consecutive year, in the 2022 Top 1000 World Banks Ranking published by The Banker Magazine; Bank of the Year (Nigeria) in The Banker’s Bank of the Year awards 2020 and 2022.

State of the States: Lagos

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FirstBank Donates Modern Healthcare Centre To Lagos Community

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FirstBank Donates Modern Healthcare Centre To Lagos Community

 

The commissioned Primary Healthcare Centre sponsored by FirstBank to the Ijeododo Community, Lagos.

…Over 10,000 residents to benefit from new primary healthcare centre

L-R: Hon. Ayodele Thomas, Vice Chairman, Iba Local Council Development Area; High Chief Jelili Ododo, Baale of Ijeododo land; Mrs. Tolani Oshodi, Permanent Secretary, Office of Secretary to the State Government/Cabinet Office; Mrs. Folasade Jaji, Secretary to the State Government and representative of the Governor of Lagos State; Mr. Seyi Oyefeso representing the CEO of FirstBank; Dr. Ibrahim Mustapha, Permanent Secretary, Lagos State Primary Healthcare Board at the commissioning of the Primary Healthcare Centre sponsored by FirstBank to the Ijeododo Community, Lagos.

 

In a bid to boost healthcare delivery to thousands of residents, the Lagos State Government has built and unveiled a new Primary Healthcare Centre (PHC) in Ije-Ododo Community, Iba Local Council Development Area (LCDA), under the Ojo Council Area of the state.

The facility, which has been under construction since 2021 in partnership with First Bank of Nigeria Limited, was unveiled in the community in an opening ceremony attended by the Lagos State Governor, Babajide Olusola Sanwo-Olu, representatives of the state government, the state Primary Health Care Board, community leaders, as well as traditional rulers of Iba, Ije-Ododo and Ijagemo, among others.

In his welcome address, the governor, who was represented by Secretary to the State Government (SSG), Mrs. Folashade Sherifat Jaji, said the opening of the health facility under the SSG’s One Community At A Time (OCAAT) initiative, formed part of activities to herald the inauguration of his second term in office on Monday, May 29, 2023.

Maintaining that the attention being paid to the healthcare sector was deliberate to ensure a healthier populace, he said the state government under his watch would deploy more resources to the health sector for easier access to health services, especially in underserved communities.

He enjoined members of the community to take full advantage of the health benefits that will be provided in the facility and charged them to take ownership and protect the assets and the facility at all times.

Speaking, Permanent Secretary, Primary Healthcare Board, Dr. Ibrahim Mustapha, commended First Bank of Nigeria Limited and the contractor for completing the project within the stipulated time frame, but also requested more assistance to make the facility functional by providing equipment and other necessary medical gadgets.

On his part, Chief Executive Officer of FirstBank, Dr. Adesola Adeduntan, who was represented by Mr. Seyi Oyefeso, expressed satisfaction at the successful completion of the project, adding that it was gratifying to know that no fewer than 10,000 residents of Ije-Ododo and neighbouring communities will have access to primary healthcare services in the facility.

He said as a responsible corporate social organisation, the bank’s intervention in the primary healthcare sector aligned with its Corporate Social Responsibility (CSR) approach anchored on citizenship, impact management, strategic education, as well as the health and welfare of the immediate and remote communities of Lagos State and other parts of the country.

In his words: “The completion and opening of the primary healthcare centre is to ensure that Ije-Ododo community will become healthier and wealthier since health is wealth.”

In his goodwill message, the Baale of Ije-Ododo, Dr. Abu Jelili Ododo, who spoke in company of the Oba of Iba and Baale of Ijagemo, applauded Governor Sanwo-Olu for the timely completion of the healthcare centre and appealed for the construction of the Ijegun-Ije-Ododo-Abule-Ado road to link the Badagry Expressway, adding that it was high time the Ije-Ododo Community was provided with a motorable road to ease the sufferings of residents.

Responding to the request for the road, Jaji assured that the Lagos State government under Sanwo-Olu was poised to build the road but that the project suffered some setback due to agitations by some members of the community over the location of the project, adding however, that as soon as the governor settles down for his second tenure, construction work will begin on the road.

By Edu Abade

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