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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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Health Challenge: King Charles May Relinquish Throne to Prince William

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Prince William and Kate Middleton are said to be secretly preparing for wearing the crowns as King Charles has reportedly decided to leave the throne for his eldest son amid worsening health challenge.

The Prince of Wales, heir to the throne, is ‘quietly preparing’ to become the new king as the monarch’s increasingly ailing condition is causing huge alarm inside the Palace, according to a news report.

The King is being asked to delegate more responsibility to Prince William, the local media reported.

“William is just as worried about his father and wants to take as much pressure off him as he can. Kate’s still being eased in, but she’s made it clear she’s keen to step up as much as possible,” according to the insider.

“It’s clear to everyone that William and Kate are quietly preparing to be king and queen themselves, and it’s only a matter of time before Charles formally hands it all over.”

“He’s already started the process and is delegating a lot more, which is why you’re seeing William’s schedule getting a lot busier.”

The Palace insider claimed: “Queen Camilla is convinced Charles is a workaholic and she’s pushing him to slow down and focus on his health.”

King Charles, who had been put on light duty following the diagnosis, has returned to his royal engagements and in September.

Queen Camilla reportedly said her husband “is doing very well,” while attending the opening of the new state-of-the-art Dyson Cancer Center at the Royal United Hospital in Bath, England.

While the King and Queen are putting on a brave face, a second insider previously told the outlet things may be more grim behind the scenes, adding: “The palace is giving the impression that Charles is on the mend, but he’s still very sick.”

William has been slowly stepping up and preparing himself to replace dad, even as Princess Kate recovers from cancer too as she announced on September 9 that she has completed preventative chemotherapy.

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PDP Has Tolerated Wike for Too Long, Says Party’s Ex-Auditor Nnaji

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A former National Auditor of the Peoples Democratic Party (PDP,) Barr Ray Nnaji, has warned that the party has tolerated the FCT Minister Nyesom Wike for too long.

Nnaji stated this during a media interview, while offering his view on the crisis plaguing the party.

This comes amid the challenge from Wike daring any governor or leader of the PDP to publicly call him a mole.

The minister threw the challenge when he appeared on Channels Television’s Politics Today programme.

He had previously dared State governors elected under the platform of the PDP over his threat that he will put fire in their states.

Wike said he had no apology to anybody, insisting that heaven will not fall.

However, lamenting on what has become of the party, the former auditor stated that no right member of the PDP will commend what’s happening in the party, saying he doesn’t see Wike being in APC and the PDP at the same time.

Nnaji also said that the PDP wasted time in replacing its former National Chairman, Iyorchia Ayu, insisting that the vacuum created room for the crisis.

He said: “No right member of the PDP will commend what’s happening in the party.

“I don’t see Wike being in APC and the PDP at the same time. It’s the soul of Rivers State they are pursuing for the purposes of 2027.

“You know quite well that Wike used his power as a former governor to make sure that APC was assisted to come to power, that was why he was compensated with a ministerial appointment.

“He (Wike) wanted to pull the structure he had then into the APC. That explains why the APC dissolved its Rivers state executives, which prompted the members to go to the court.

“Wike himself, and those 25 State House of Assembly members who defected, when they found out that others weren’t following them, the problem in the state started.

“The main fact is that the acting Chairman failed to do what he ought to do. It cannot be blamed on the acting Chairman alone, it should be blamed on the Party entirely because the constitution is very clear.

“When a vacancy exists, what do you do? Of course, the constitution provided answers to all those things, but they failed to do it.

“Iyorchia Ayu was from North Central, when he left the position, Damagun came just to fill the gap.

“The party shouldn’t have wasted time in replacing Iyorchia Ayu. The party would have replaced Ayu with another person from that zone. If that would have been done, I don’t think we would have entered into this crisis.

“I don’t think it is as difficult with the party as it was with Amodu Sheriff, which ended up in the Supreme Court before the 2019 election.

“I still believe that the party will still come out of it, even though they didn’t do what they ought to have done early enough.”

On setting up a reconciliation committee, Nnaji had this to say: “I don’t know who they are reconciling with. Is it Wike or the governor?

“From the look of things, the government is not ready to play ball, when Wike wants the structure. And if you give Wike the structure, the governor becomes a follower of Wike.

“That is not what the governor wants, he’s supposed to be the leader of the party in the State and take charge.

“Wike, seeing what’s happening, believes he has done his parallel congress and produced a structure. Of course, the governor has his own structure, who the national picks will be another issue.

“I learnt Wike was invited to the disciplinary committee, I don’t know the outcome of the invitation but they waited too long to allow Wike to this point.

“He was not part of the formation of the party but he’s the most beneficiary of the PDP. Going ahead to seek the destruction of the party he has benefited a lot from doesn’t augur well for him, especially in the future.

“If he destroys PDP, who’s sure the APC will be a comfortable place for him to stay?

“I don’t think he’s thinking from that angle. It is his personal interest that matters most for him now.

“The PDP has to make sure it puts its house in order to see if it can liberate the country come 2027.”

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Dele Momodu Makes Case for Osun As a Strong Investment Destination

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By Eric Elezuo

Notable media entrepreneur and Chairman, Ovation Media Group, Aare Dele Momodu, has declared Osun State as a strong investment destination, with evidential circumstances that set it apart among a comity of states.

The veteran journalist made the revelation at the just concluded Osun Industrial Investment Summit, held in Osogbo, the state capital, where he was the guest speaker.

He eulogised the state as the cradle of the Yoruba nation as well as the heartland of South Western Nigeria, blessed economically and academically amongst other natural and developmental advantages.

Momodu further informed that the state “possesses a rich investment landscape across the sectors. From agricultural to mining processing to digital economy, the state of the living spring confronts potential investors with enticing possibilities. From the richly, European like Owalla dam for inland beach resorts to the mesmerizing Erin Ijesa waterfalls to the multi-billion dollar cultural assets, there is no better place to invest than Osun.”

Here’s a text of his full speech at the event, which had the state governor, Senator Ademola Adeleke, and other notable state officials in attendance.

“Osun State is the cradle of Yoruba nation, the heartland of South Western Nigeria. This is the cultural capital of highly developed Yoruba people with descendants in South and North America;

“Osun State is an economically and educationally rich state, boasting of huge solid mineral resources, highly literate  population, heavy multiple University presences, varied agricultural potentials and a billion dollar developing cultural industry;

“Osun is an unusually peaceful state within a turbulent but extremely great nation, a state that accepts non-indigene with open arms and support non-native business ventures and activities with native hospitality and patronage;

“Osun is a natural tech hub of the Federation as its sons and daughters dominate the tech innovation world and with the state already building a digital economy to tap into the acknowledged talents of young Osun tech enthusiasts;

“We are all gathered here to drum up support for inflow of investment into a state with an ambitious Governor, a widely traveled leader and a 21st century manager who is positioning the state as investors’ first choice within the comity of states;

“My pitching Osun today is not out of mere filial affiliation. I am Osun and Osun is me. But it is more than that. The case for Osun as an investment destination is strong and evidence based;

“The state possesses a rich investment landscape across the sectors. From agricultural to mining processing to digital economy, the state of the living spring confronts potential investors with enticing possibilities. From the richly, European like Owalla dam for inland beach resorts to the mesmerizing Erin Ijesa waterfalls to the multi-billion dollar cultural assets, there is no better place to invest that Osun;

“Beyond the natural investment potentials, I review trade logistics and I am confronted with appealing reality. One is the national railway line that traversed the heartland of the state. Then I saw the government masterplan for an international airport with a cargo terminal integrated alongside a free trade zone;

“Free trade zone? Yes. Airport of international standard?  Yes. Railway link directly to Apapa port in Lagos? Yes. Trade logistics and connectivity are top notch;

“What of internal infrastructure? Osun as a highly urbanized city is implementing a multi-sectoral , multi-billion naira infra upgrade across health, education, roads , water and environmental sectors. The major towns are construction sites alongside huge construction ongoing across the local governments to enhance rural – urban connectivity;

“As an investor, the destination is not ripe by possessing all the above. There must be something else which can actually tip the balance of decision making;

“Are there legal frameworks? Are there policy frameworks for the various sectors?

“Again, Osun beats all limitations with the state Governor running a battle of policy coverage for the state economy. From November 2022 to date, my investigation showed that the state has successfully established state policies covering several critical sectors;

“Aside the state Industrial Development Policy, Osun now has a state ICT policy, State Tech Innovation Policy, State Electricity Market policy, State Transport policy, State Mining policy among others;

“Investors thus have nothing to worry about in the area of policy frameworks. In many cases, the policies are being transformed into actual state legislations. This deepens assurance frameworks for investors;

“One of the biggest unique selling points for the state aside from all the above rare features is the Adeleke family, a dynasty with entrenched interest in the national economy and the entertainment world. The Governor and his family are in reality one of the biggest insurance and magnet for investors;

“To the diaspora population,  my charge is to make hay while the sun shines. Rush to Osun to take a piece of the pie;

“To the global investment community, Osun is a goldmine that has more than gold. As a globally traveled serial entrepreneur myself, Osun represents the first choice. No investor will regret putting his money into such a potentially buoyant state economy.

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