Editor
A wave of excitement surrounds the milestone birthday of Dr. Nneka Onyeali-Ikpe, the trailblazing Managing Director and Chief Executive Officer of Fidelity Bank Plc, as she reaches the age of 60 on Sunday, July 28.
Her exceptional performance in the financial services sector has garnered immense respect from her peers and positioned her as a standout figure among the top CEOs in the banking industry.
Under her leadership, Fidelity Bank concluded the 2023 financial year with remarkable double-digit growth across crucial income and balance-sheet indicators. The bank’s profit before tax soared by 131.5% to N124.3bn from N53.7bn in the previous year, resulting in a significant increase in Return on Average Equity (RoAE) to 26.5% from 15.6% in 2022. Notably, Fidelity Bank made history by being the first bank to go public following the Central Bank of Nigeria’s recapitalization directive issued in March, with the successful opening of its N127.10bn rights issue and public offer in June.
Known for her advocacy on the importance of hard work, continuous personal development, and industry expertise for women to excel in their careers, Dr. Onyeali-Ikpe emphasizes the need for creating conducive environments that empower women to unleash their full potential.
During the combined offer presentation at the Nigerian Exchange Limited, she highlighted the significance of Fidelity Bank’s N127.10bn capital raising as a groundbreaking move in the banking industry’s capitalization drive.
The bank has already initiated the process of raising additional capital in anticipation of the CBN’s directive, which mandates banks to enhance their minimum capital base to N200bn for national banks and N500bn for banks with international operations.
While the comprehensive outcomes of the bank’s public offer and rights issue are yet to be fully disclosed, industry experts foresee a highly successful endeavor given Fidelity Bank’s recent robust financial performance and expansive customer base exceeding 8 million.
Born in Anambra state on July 28, 1964, Nneka Onyeali-Ikpe joined Fidelity Bank as an Executive Director in 2015 and assumed the role of Managing Director/CEO in January 2021.
A distinguished alumna of the University of Nigeria, Nsukka and Kings College, London, where she obtained her Bachelor of Law and Masters of Law degrees respectively, Dr. Onyeali-Ikpe has enriched her professional acumen through executive training programs at renowned institutions such as Harvard Business School, The Wharton School University of Pennsylvania, INSEAD School of Business, Chicago Booth School of Business, London Business School, and IMD.
With over 33 years of experience spanning investment banking, wealth management, Treasury Management, retail banking, and corporate banking, Dr. Onyeali-Ikpe is widely acclaimed as one of Africa’s foremost CEOs, recognized for her adeptness in identifying talents, opportunities, and executing intricate business transactions.
Her strategic leadership has propelled Fidelity Bank to be acknowledged as the fastest-growing bank in Nigeria, leveraging her profound insights into complex businesses and markets to engage in substantial financial advisory, structured and project finance operations in various sectors. She successfully spearheaded the bank’s expansion into the United Kingdom by securing the approval of the Central Bank of Nigeria for the acquisition of Union Bank UK, a subsidiary of the Union Bank of Nigeria.
Passionate about fostering innovation and embracing technology, Dr. Onyeali-Ikpe’s notable accomplishments include pioneering innovative products like the PayGate Plus, an online platform facilitating seamless business payments.
Married to Dr. Ken Onyeali-Ikpe, she has significantly repositioned Fidelity Bank as a premier financial institution catering to the needs of Small and Medium Enterprises (SMEs).
Recognizing the pivotal role of SMEs in driving economic growth, Dr. Onyeali-Ikpe established the Fidelity International Trade & Creative Connect (FITCC) to serve as a nexus for exporters, regulators, subject matter experts, and the market at large.
The FITCC 2022 edition witnessed participation from representatives of both the UK and Nigerian Governments, Nigerian exporters, investors, regulators from the UK and Nigeria, and the business community, resulting in pipeline deals exceeding $200 million. The event attracted over 2,000 registered attendees with a daily footfall of approximately 1,000.
The subsequent edition of FITCC held in Houston, Texas in the United States from October 24-25, 2023, at the esteemed George R. Brown Convention Center, echoed the success of its predecessor.
In her commitment to giving back to the communities served by the bank and addressing issues of poverty and hunger, Dr. Onyeali-Ikpe launched a National Corporate Social Responsibility initiative known as The Fidelity Food Bank, providing free food bags to individuals across Nigeria on a monthly basis.
Accolades and honors have adorned Dr. Onyeali-Ikpe’s illustrious career, including prestigious awards such as Officer of the Order of the Niger (OON). She has been lauded by numerous local and international bodies for her remarkable achievements, being named “The Banker of the Year 2022” at the 14th Leadership Annual Conference and Awards, “The Best Banking CEO Nigeria 2023” in the 2023 Global Banking & Finance Awards, and Champion Newspapers’ “2022 Banker of the Year.”
Her exceptional leadership and outstanding performance have led Fidelity Bank to clinch several accolades both within and outside Nigeria, such as “Best Commercial Banking Brand in Nigeria” by the Global Brands Magazine Awards, “Best Private Bank in Nigeria” by The Financial Times in association with The Banker Magazine, and Global Finance’s “World’s Best Private Banks 2023” awards for Best Private Bank in Nigeria, among others.
Warm birthday wishes to a pioneering and accomplished figure in the banking industry.
