Fidelity Bank optimistic of Chike-Obi’s value to growth initiatives

The management of Fidelity Bank Plc has expressed optimism that the appointment of Mr. Mustafa Chike-Obi as Chairman of the bank will impact positively on the lender’s operations, improve returns on shareholders’ investment and enhance customers’ satisfaction in the years ahead.

The bank’s Managing Director, Mr Nnamdi Okonkwo, was quoted as commending the outgoing Mr Ernest Ebi-led board members for their contributions, adding that the lender benefitted immensely from their experiences and is looking forward to continuing the bank’s upward growth trajectory with Chike-Obi.

The new chairman, who is currently Executive Vice Chairman at Alpha African Advisory, has over 40 years of cognate experience in investment banking and the financial services sector.

Fidelity Bank’s management stated that Chike-Obi’s appointment followed the retirement of Mr. Ernest Ebi as its Chairman, Board of Directors.

It stated that both the retiring chairman and Mr Seni Adetu, who had been serving as Chairman and Independent Non-Executive Director respectively, successfully completed their tenure in accordance with the bank’s internal governance policy.

The management recalled that the bank recorded significant growth across key financial metrics under the leadership of Ebi and Adetu, adding that “the bank’s market share position has also been materially strengthened.”

Prior to joining Alpha African Advisory, ChikeObi was the inaugural Chief Executive Officer, Asset Management Corporation of Nigeria (AMCON) as well as the Founding President at Madison Advisors, a financial services advisory and consulting firm in New Jersey, U.S., specialising in hedge funds and private equity investment advice.

He holds a bachelor’s degree in Mathematics from the University of Lagos (First Class Honours) and a Master’s degree in Business Administration from Stanford University Graduate School of Business, the bank said.

The bank further stated that Ebi would continue in the role until Chike-Obi assumed office to ensure a smooth and successful transition, pointing out that the changes attested to the bank’s high governance standards and best practices.

The bank quoted Ebi as expressing satisfaction with the results achieved by the bank during his tenure.