Why Fidelity Bank extended Onyeali-Ikpe’s tenure as MD/CEO to 2026

Fidelity Bank MD:CEO Nneka Onyeali-Ikpe

Fidelity Bank Plc has extended the tenure of its managing director and chief executive officer Nneka Onyeali-Ikpe by two years to 2026.

The decision was taken at the bank’s board meeting on February 12, 2024, according to a notice at the Nigerian Exchange Limited (NGX).

“The extension is in furtherance of the bank’s strategic objectives and premised on Onyeali-Ikpe’s sterling performance since assuming office on January 1, 2021,” the notice signed by company secretary Ezinwa Unuigboje and filed with the NGX read.

Fidelity Bank recently released its full-year 2023 financial statements, reporting gross earnings growth of 72 per cent to N575.421 billion from N334.966 billion in 2022. Its profit after tax (PAT) rose in 2023 to N99.902 billion from N47.165 billion in 2022, up by 112 per cent.

“The Board is confident that the Bank’s performance will continue its upward trajectory under Dr. Nneka Onyeali-Ikpe’s leadership and looks forward to working closely with her and the Executive Management Team on the execution of various strategic initiatives including international expansion,” the statement signed by Mr Ezinwa continued.

Onyeali-Ikpe’s appointment as Fidelity Bank CEO became effective on January 1, 2021, following the retirement of her predecessor Nnamdi Okonkwo from the bank’s board of directors on December 31, 2020.

The 59-year-old law graduate of the University of Nigeria, Nsukka was formerly executive director, Lagos and South West, overseeing the bank’s business in the six states that make up the South West region of Nigeria.