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Nneka Onyeali-Ikpe: Woman of Means, Indefatigable MD/CEO of Fidelity Bank

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Dr Nneka Onyeali-Ikpe, OON is the Group Managing Director and Chief Executive Officer of Fidelity Bank Plc, a foremost financial institution with a client base of about 9 million customers.

Nneka joined Fidelity Bank as an Executive Director in 2015 and was appointed Managing Director/CEO of the Bank in January 2021. Following her appointment, Nneka became the first female MD/CEO in the history of the bank.

She is an alumnus of the prestigious University of Nigeria, Nsukka and Kings College, London where she holds a Bachelor of Law and Master of Law respectively. She has also attended executive training programs at Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School and IMD amongst others. She recently completed a Diploma programme in Organizational Leadership at Said Business School, Oxford University, UK and received an honorary doctorate degree in Business Administration at the University of Nigeria, Nsukka (UNN). She is also the recipient of the national award of the Officer of the Order of the Niger (OON) which was awarded to her by the Federal Government of Nigeria in 2023.

Dr Onyeali-Ikpe has over 32 years of rewarding banking experience spanning Citizens International Bank, Zenith Bank and Standard Chartered Bank among others. She was Executive Director at Enterprise Bank and Fidelity Bank before her eventual appointment as the Managing Director and Chief Executive Officer at Fidelity Bank PLC. She has been involved in the structuring of complex transactions in Oil and Gas, Manufacturing, Aviation, Real Estate and Export among others.

Nneka is widely regarded as one of Africa’s leading female CEOs with a reputation for authentic leadership and proven people skills in identifying talents, opportunities and executing complex business deals. She has extensive business development experience with proficiency in retail, corporate and commercial banking and treasury management among others.

Under Nneka’s watch, the Bank grew its PBT from N25.22bn in FY 2021 to N122bn in FY 2023. Nneka has now set her horizon on leveraging the opportunities in select high growth international markets where the Bank has a competitive advantage. She most recently guided the bank to obtain the approval of the Central Bank of Nigeria to expand its operations to the United Kingdom with the acquisition of the former Union Bank UK, now Fidelity Bank UK Limited.

Passionate about innovation and embracing technology, Nneka has pioneered several innovative and pacesetting products such as the PayGate Plus, an online platform that enables businesses make and receive payments.

Dr. Onyeali-Ikpe has also radically repositioned the bank as the go-to financial institution for Small and Medium Enterprises. Understanding the crucial role of small businesses in the sustenance of economic growth and development, she led the bank to create the Fidelity International Trade & Creative Connect (FITCC) which is aimed at providing a global platform for exporters, regulators, subject matter experts and foreign markets to connect.

The FITCC 2022 edition was attended by representatives of both the UK & the Nigerian Governments, Nigerian exporters, investors, regulators from the United Kingdom and Nigeria, the business community and other practitioners. The pipeline deals from the event was in excess of $200m. Over 2,000 people registered to attend the event and daily foot-fall was about 1,000.

The second edition of FITCC, which was hosted in Houston, Texas, United States of America in October 2023, was even bigger with projected pipeline deals of over $250m and more than 160 businesses in participation. Tagged, FITCC Houston, the success of the event is signposted by the designation of 25 October 2023 as the “Fidelity International Trade and Creative Connect Day” by Mr. Sylvester Turner, Mayor of Houston.

In her bid to give back to the communities the Bank serves and as part of her efforts to combat the twin issues of poverty and hunger, Dr. Onyeali-Ikpe recently launched a National Corporate Social Responsibility initiative tagged The Fidelity Food Bank which provides free food bags to people across Nigeria monthly.

In recognition of her leadership and outstanding performance, she received commendation from AMCON as a member of the Management Team that restructured and turned around the fortunes of the erstwhile Enterprise Bank. She also received several board commendations from the Managing Directors of Standard Chartered Bank and Citizens International Bank for outstanding performance at various times.

With Nneka as the Chief Executive Officer, Fidelity Bank has been the recipient of several awards within and outside Nigeria some of which are:

1. Best Commercial Banking Brand in Nigeria by the Global Brands Magazine Awards

2. Best Private Bank in Nigeria by The Financial Times in association with The Banker Magazine

3. Trade Ambassador Award by the Nigerian-American Chamber of Commerce (NACC)

4. Global Finance’s World’s Best Private Banks 2023 awards for Best Private Bank in Nigeria

5. The Best Payment Solution Provider Nigeria 2023 in the 2023 Global Banking & Finance Awards

6. Export Finance Bank of the Year at the BusinessDay and Other Financial Institutions’(BAFI) Awards 2023.

7. The “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.

On her own part, Dr. Onyeali-Ikpe has been recognized by numerous local and international bodies for her sterling achievements. These include:

1. The national award of the Officer of the Order of the Niger (OON) by the Federal Government of Nigeria in 2023.

2. The Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards and

3. The Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards.

4. 2023 Top 25 CEOs in Nigeria at the BusinessDay Awards

5. The Banker of the Year 2022 at the Champion Newspapers’ Awards of the Year 2022.

Considering her versatility, industry knowledge and vast network, she also serves on the following Committees and organizations:

1. Chairperson, Financial Literacy and Public Enlightenment Sub-Committee of the CBN Bankers Committee.
2. Chairperson, Funds and Grants Committee of the Chartered Institute of Bankers of Nigeria
3. Member, Audit Committee of FMDQ Group PLC
4. Member of the Board, Shared Agent Network Expansion Facilities (SANEF)
5. Member of the Board, Unified Payment Services Limited

She is married to Dr. Ken Onyeali Ikpe, PhD, a visionary leader with strong business acumen and respected for his demonstrated knowledge in Marketing, Branding and Consumer Consulting and Business acceleration.

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British-Nigerian, 14, Killed in Knife Attack in UK

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UK police named a 14-year-old boy killed in a sword attack in London this week as Daniel Anjorin, as officers released more details about how the violent rampage unfolded.

Anjorin, a British-Nigerian pupil attended Bancroft’s private school in Woodford Green – also attended by Nottingham attack victim Grace O’Malley-Kumar.

He died on Tuesday morning as he walked to school in Hainault, in the east of Britain’s capital, when he was attacked by a man wielding what appeared to be a Samurai-type sword.

Police tasered and arrested the suspect, a 36-year-old man who remains in custody on suspicion of murder. He has not been named and was not previously known to police.

The independent school attended by Anjorin said in a statement Wednesday that they had been left in “profound shock and sorrow” at the pupil’s death.

“He was a true scholar, demonstrating commendable dedication to his academic pursuits. His positive nature and gentle character will leave a lasting impact on us,” Bancroft’s, in Woodford Green, near Hainault, said.

London’s Metropolitan Police force said Tuesday’s horror unfolded just before 7:00 am (0600 GMT) when the accused crashed a van into a house fence, hitting a 33-year-old man before stabbing him in the neck.

A 35-year-old man was then attacked inside a nearby property, causing lacerations to his arm, before Anjorin was killed.

Police arrived on the scene 12 minutes after the first emergency call and attempted to neutralise the suspect with incapacitant spray and a Taser gun but these had little effect.

The suspect seriously injured two police officers, both of whom required surgery on Tuesday and remain in hospital.

One, a woman, suffered severe injuries to her arm and nearly lost a hand, the Met said.

The man fled again as terrified witnesses took cover in houses before police used a Taser to overpower him, detaining him 22 minutes after the initial call.

Police have said the attack was not terror-related.

It came amid a rise in stabbings in the United Kingdom and shortly before voters decide whether to re-elect London mayor Sadiq Khan for a record third term in local elections Thursday.

Conservative Prime Minister Rishi Sunak has criticised the opposition Labour Party’s Khan for his record on crime.

Anjorin’s death is the second recent tragedy to hit Bancroft’s, after a former pupil, Grace O’Malley-Kumar, was killed in Nottingham last year as she tried to save her friend from a knife attacker.

Valdo Calocane was sentenced to indefinite detention in a psychiatric hospital for stabbing to death 19-year-old O’Malley-Kumar, fellow student Barnaby Webber and 65-year-old school caretaker Ian Coates.

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Adebogun Commends Tinubu over Rehabilitation of Ikorodu-Imota-Itoikin-Epe Road

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Renowned educationist, and Proprietor/Chief Executive Officer, Caleb Group of Schools, Dr. Oladega Adebogun, has commended President Bola Ahmed Tinubu, for speedy and comprehensive rehabilitation of the Ikorodu-Imota-Itoikin-Epe Road, which formerly ranked as one of the worst in Nigeria, and had been albatross to past administrations.

A statement signed by the Director, Public Relations, Caleb University, Imota, Mr. Abimbola Olulesi, and made available to this medium, noted that Adebogun gave his commendation during an interactive session with the media, affirming that President Tinubu, by his singular action, has renewed the hope of residents, motorists and commuters, who had lost hope that the road will ever be repaired, considering its total deplorable state.

He recollected that the Ikorodu-Imota-Itoikin-Epe road, before the rehabilitation, ranked among the worst roads not just in Lagos State but across the country.

“The road usually gets abandoned during the rainy season, and had posed a recurring nightmare to motorists and commuters along the Ikorodu through Imota to Itoikin axis, and as far as Epe. It was a particularly harrowing experience for road users during vacation and festive periods,” Adebogun said.

The Proprietor joyfully noted that it was a huge sigh of relief for residents when the rehabilitation was completed in March this year, reducing Ikorodu to Epe travel time from about two hours to less than thirty minutes.

He added that the rehabilitation of the road is a positive pointer and attestation to the fact that many more development projects promised by the people-oriented, focused and egalitarian government of President Tinubu would be completed and delivered.

Adebogun also commended the Honourable Minister of Works, His Excellency, Dr. Dave Umahi, the Executive Governor of Lagos State, His Excellency Babajide Sanwo-Olu and the Senator representing Lagos East Senatorial District, Senator Adetokunbo Abiru for the various roles they played in the actualization of the rehabilitation of Ikorodu-Imota road.

He recalled that Governor Sanwo-Olu had personally visited to access the deplorable condition of the road early this year while Senator Abiru had moved a motion in 2021 on the floor of the Nigerian Senate on, “The Urgent Need for the Rehabilitation of the the Ikorodu-Sagamu and Ikorodu-Itoikin-Epe Roads to further bridge the Infrastructure Gap and Enhance Economic Growth in Nigeria”.

Senator Abiru also has to his credit many laudable achievements which earned him the appellation of “Doing Good Senator” such as: The Senator Abiru Innovation Lab(SAIL), which is “the first of its kind innovation hub” in Lagos East Senatorial District which he set up for young people and entrepreneurs; N300 Million Naira Constituency Intervention Revolving Loan, Health facilities and construction of blocks of classrooms he facilitated across the district, provision of grant to 1,250 market women, award of bursary to 600 higher institution students and monthly support for over 2500 vulnerable constituents. Others include provision of many transformers across Lagos East Senatorial District, building of Epe Sports Complex as well as sponsorship of many legislation and motions of national significance.

Adebogun also remarked that, in less than one year of assuming office, President Tinubu had performed beyond expectation and deserves the goodwill and support of all Nigerians to actualise all aspects of the Renewed Hope Agenda.

He further paid tributes to President Tinubu for the promise announced by the Honourable Minister of Works, Dr. Dave Umahi, that the dualization of the Ikorodu-Imota-Itoikin-Epe Road would commence in earnest as the second phase of the road repair project.

He therefore appealed to all well-meaning Nigerians to put aside mundane differences and join hands with the government for the full realization of the Renewed Hope Agenda of President Bola Ahmed Tinubu.

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No Such Deals Exist, Maersk Debunks $600m Investment Agreement with Nigeria

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A report from Lloyd’s List has debunked the statement of the President Bola Tinubu-led Federal Government that Maersk has concluded and signed an agreement for a $600 million into the port sector.

The paper’s report reads:

A $600m investment into Nigeria’s port sector from Maersk, announced personally by the West African state’s president Bola Tinubu on Sunday, appears to be less solid than the government initially claimed.

Despite a presidential statement from Tinubu detailing how he had secured the purported investment during a World Economic Forum meeting in Riyadh over the weekend, Maersk officials have confirmed that no such agreement is in place and no deals have been signed.

The Nigerian government statement detailed how A.P Moller-Maersk chairman Robert Maersk Uggla had discussed the investment with president Tinubu on the sidelines of a meeting discussing energy development and growth. The statement even included a direct quote attributed to Uggla saying: “We believe in Nigeria, and we will invest $600 million in existing facilities and make the ports accommodating for bigger ships”.

But according to Maersk, that deal does not exist.

Company officials said while Uggla did meet the president, no such deal had been signed.

“Maersk has been present in Nigeria for 35 years and, as a global provider of logistics services, we remain committed to develop opportunities for growth to people, the port sector and businesses locally,” the company said in a statement to Lloyd’s List.

“Therefore, it is natural to have an ongoing dialogue with the administration. However, we are not able to comment on any investment talks.”

Maersk is due to report first-quarter results on Thursday, meaning that management are in a regulatory quiet period limiting what they can say publicly about the company’s activities.

Nigeria has promised to revamp its ports, including in the commercial capital Lagos, to ease congestion.

Tinubu’s statement explained that his government would support the modernisation and automation of its ports to improve trade, reduce corruption and boost efficiency. He claimed that the purported Maersk investment would “complement the administration’s ongoing $1bn investment in seaport reconstruction across the eastern and western seaports of Nigeria”.

“A bet on Nigeria is a winning bet. It is also a bet that rewards beyond what is obtainable elsewhere,” he said. “We need to encourage more opportunities for revenue expansion and minimise trans-shipments from larger ships to smaller ships.”

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