Personality in Focus
Nneka Onyeali-Ikpe: Undisputed Amazon of Banking
By Eric Elezuo
The reward for hardwork has always been hardwork, and so it was when the Fidelity Bank group rewarded its indefatigable Group Managing Director and Chief Executive Officer, Mrs Nneka Onyeali-Ikpe, with an extension of her employment contract. No doubt, Mrs Onyeali-Ikpe, reputed as a solid amazon in the finance sector, and a go-getter, has seen and conquered the banking arena, and is honoured among veterans as a solid foundation in Nigeria’s money business.
Born on July 28, 1964, and on the verge of hitting the diamond age, Nneka, as beloved and close family members, friends and colleagues fondly call her, is a force to reckon with, and has in a space of 32 years and counting, of career banking, brought to bear all the stops that make for great banking and financial experience, climbing to the topmost echelon of investment banking and related areas.
It was not surprising therefore that Fidelity Bank Plc has announced its decision after a thorough Board of Directors’ meeting to extend the employment contract of the ebullient achiever from 2024 to 2026.
The announcement, which was taken on February 12, 2024, and contained in the company’s notice to the Nigerian Exchange Limited (NGX), and signed by Ezinwa Unuigboje, the Company Secretary noted that the extension is in furtherance of the Bank’s strategic objectives and premised on Dr. Nneka Onyeali-Ikpe’s sterling performance since the assumption of office on January 1, 2021.
The statement reads:
“Fidelity Bank Plc (the Bank) is pleased to announce its Board of Directors’ decision to extend the employment contract of its GMD/CEO, Dr. Nneka Onyeali-Ikpe, from 2024 to 2026.
“The decision was taken at the Board meeting on February 12, 2024. The extension is in furtherance of the Bank’s strategic objectives and premised on Dr. Nneka Onyeali-Ikpe’s sterling performance since assumption of office on January 1, 2021,”
The Board noted, and without equivocation, that it 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 execution of various strategic initiatives including international expansion.
Before attaining the enviable GMD with Fidelity Bank, Onyeali-Ikpe had out of dint of hardwork, paid her dues from lesser positions.
She began her career in 1990, when she was employed as a legal officer for the now-defunct African Continental Bank. She later worked as a treasury officer for the First African Trust Bank, and thereafter joined Zenith Bank, and subsequently the Standard Chartered Bank. Her experience in the course of her sojourn are combined to make her a toast of the banking industry today.
Having cut her teeth, and garnered a lot of experience and good, she was in 2011, absorbed by Enterprise Bank as an Executive director of the bank’s operations in Lagos and other locations in the South-Western region in Nigeria. She wasted no time in turning around the fortunes of the bank.
In January, 2015, Onyeali-Ikpe joined Fidelity Bank as an Executive Director, and rose through the ranks until she was announced the Managing Director in December, 2020. Following her appointment, Nneka became the first female MD/CEO in the history of the bank.
Presently, Dr Nneka Onyeali-Ikpe, with the national honour of Officer of the Order of the Niger (OON) is the Group Managing Director and Chief Executive Officer of Fidelity Bank Plc, a foremost financial institution with a client base of about nine million customers.
Apart from her Law degrees, from the prestigious University of Nigeria, Nsukka and Kings College, Onyeali-Ikpe 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.
It is worthy of note that 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.
With close to 34 years of rewarding banking experience through Enterprise Bank, Citizens International Bank, Zenith Bank and Standard Chartered Bank among others, the woman is surely a force to reckon with.
A woman of many parts, Onyeali-Ikpe has also been involved in the structuring of complex transactions in Oil and Gas, Manufacturing, Aviation, Real Estate and Export among many others.
She is, without an iota of doubt, 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.
LANDMARK ACHIEVEMENTS IN FIDELITY BANK
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.
HER CORPORATE SOCIAL RESPONSIBILITY EFFORTS
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.
FIDELITY AWARDS UNDER ONYEALI-IKPE’S WATCH
With Onyeali-Ikpe 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.
PERSONAL RECOGNITIONS AND 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
PERSONAL LIFE
Onyeali-Ikpe 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.
She is a celebrated wife and mother, who has combined home duties with professional endeavours with allowing any to suffer.
Former Presidential Spokesperson, Doyin Okupe has reportedly passed away.
TheNewsGuru reports that the senior adviser to former President Goodluck Jonathan and, recently, the Director-General of Peter Obi’s 2023 Presidential Campaign died at 71, after a long struggle with cancer.
In October 2023, Okupe was hospitalized with prostate cancer and was flown to Israel for treatment.
However, it was learnt that his condition did not improve as expected.
Okupe had a history of prostate cancer, first diagnosed 16 years ago, and a later bout with sarcoma in his right shoulder.
Following his milestone achievements as Chairman of the Police Campaign Against Cultism and Other Vices (POCACOV), the Chairman/CEO of Executive Group, Dr. Ayo Ogunsan has been officially announced as the Patron of the Police advocacy initiative in Lagos State, National Association of Online Security News Publishers, NAOSNP can report.
The POCACOV is the Nigeria Police Force advocacy initiative to help young people avoid cultism and other vices. It uses advocacy, awareness, and sensitization to help young people avoid vices by conducting community outreaches to schools, inner cities, rural areas, and urban centres. It also helps to rehabilitate and reintegrate those who have been cut in the web of cultism, crimes, and social vices.
It would be recalled that Dr. Ayo Ogunsan took up the Chairmanship job about a year ago and was able to use his grand standing as the Board Member of Lagos State Security Trust Fund (LSSTF), prime supporter of security news beat association National Association of Online Security News Publishers (NAOSNP), and leadership of non-profit initiative, AKEM Foundation to champion his work and various impacting activities in the past one year. This is why POCACOV through its National Coordinator, ACP Olabisi Oluseyi Okuwobi on behalf of the Inspector General of Police announced his official elevation into the role of Patron of POCACOV in Lagos State.
The United Nations POLAC International Peace Advocate, Dr. Ayo Ogunsan expressed his gratitude to the Inspector General of Police, IGP Kayode Egbetokun and the National Coordinator, ACP Okuwobi for the new role and promised to give direction to the new Chairman, Mr. Moses Oladimeji which will lead to improved performance of POCACOV in Lagos.
‘I will keep raiding our communities with love. We will give them food, shelter, etc. Police will do the Police work but I will do the policing of love’, Ogunsan affirmed.
This piece is contributed by Oki Samson
President Bola Ahmed Tinubu has appointed Shamsedeen Ogunjimi as the new Accountant General of the Federation after a rigorous selection process.
A statement by Special Adviser to the President (Information & Strategy), Bayo Onanuga said his appointment, approved on Tuesday, takes effect from 7th March 2025, the same day the incumbent Oluwatoyin Madehin will retire.
Ogunjimi, 57, was first named as Madehin’s successor last December.
“A selection committee later chose him through a competitive, rigorous, and merit-based process involving Directors of Accounts in the Federal Civil Service. The committee conducted the process through three stages: a written assessment, an ICT proficiency test, and oral interviews.
“The selection process underscores President Tinubu’s commitment to promoting transparency, excellence, and competence in key public service positions,” the statement read in part.
Ogunjimi graduated from the University of Nigeria, Nsukka, in 1990 with a Bachelor of Science in Accountancy.
He also obtained a Master’s in Accounting and Finance from the University of Lagos.
He is a fellow of the Institute of Chartered Accountants of Nigeria and the Chartered Institute of Taxation of Nigeria.
President Tinubu congratulated Ogunjimi on his appointment, and urged him to discharge his duties in the service with integrity, professionalism, and dedication to Nigeria’s service.
