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Fidelity Bank announces new appointments

Mustafa Chike-Obi is the new chairman. (Image source: Fidelity Bank)

Fidelity Bank Plc has announced that two of its board members – Ernest Ebi who has been serving as chairman, board of directors and Seni Adetu who has been serving as an independent non-executive director – will be stepping down from the board

The board has further announced that the retiring chairman will be succeeded by Mustafa Chike-Obi who is currently the executive vice-chairman at Alpha African Advisory. He has more than 40 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms. He provides overall leadership at Alpha African Advisory and has direct oversight over the capital raising division.

Prior to joining Alpha African Advisory, he was the inaugural CEO, Asset Management Corporation of Nigeria (AMCON), a Federal Government backed institution, established to resolve the problem of non-performing loan assets of Nigerian Banks after the 2008 global financial crisis. 

Ebi will however continue in the role until the in-coming chairman assumes office, as part of the process of ensuring a smooth and successful transition. The changes being announced further attest to Fidelity Bank’s high governance standards and best practices in compliance with internal succession policies.

The managing director and CEO of Fidelity Bank Nnamdi John Okonkwo commended the contributions of the outgoing board members, saying that the bank has benefited immensely from their experiences and looks forward to continuing the Bank’s upward growth trajectory with the incoming chairman designate.

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