Onyeali-Ikpe: Toast to pace setting banker @ 59

THOMAS IMONIKHE

For the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe, a pace setter and banker par excellence who clocks 59 July 28, the last 12 months have been quite eventful both to her and the financial institution she is piloting.

She is not only a tested and accomplished pearl among the CEOs of Nigeria’s leading banks, the lawyer-turned banker has given a brilliant account of her capacity to deliver on the vision and mission of Fidelity Bank with strong passion, courage, confidence and focus on set goals.

Little wonder then that in just over two years as CEO, the Anambra-born woman of substance has made a lot of difference as chief promoter of the institution berthing many innovative products, winning several laurels in the process and proved that indeed, “there is no limit to what a woman can accomplish.”

In other words, she has imbibed one of the famous quotes of American writer and author Diane Mariechild,  that “a woman is the full circle. Within her is the power to create, nurture and transform.”

Besides, the quintessential banker has demonstrated in clear terms, that she possesses the right qualities and intellectual capability to meet the bank’s board of directors and shareholders’ expectations through improved dividends pay out and the set target of  leading the institution to Tier-1 bank come 2025.

And apparently living up to her billing as a ‘Lioness’, Nneka had for instance in the last one year, guided the bank to obtain the approval of the Central Bank of Nigeria, CBN to expand its operations to the United Kingdom and remained very passionate about  innovation and embraced technology as well as pioneered several new products such as the PayGate plus, an online platform that enables businesses make and receive payments.

It is similarly on record that she has radically repositioned the bank as the apt financial institution for Small and Medium Enterprises. Also, understanding the crucial role of small businesses in the sustenance of economic growth and development of any country, Mrs. Onyeali-Ikpe led the bank to create the Fidelity International Trade & Creative Connect (FITCC), the first of such foreign gathering in the bank’s history aimed at providing a “touchpoint for exporters, regulators, subject matter experts and the market.

According to the bank, the FITCC had in attendance representatives of both the UK & the Nigerian Governments, the business communities and other practitioners while pipeline deals from the event stood in excess of $200m just as 2,000 people registered to attend the event.

Again, determined to build on the remarkable success of the maiden edition in London, last November, the leading financial institution has concluded plans to host the second edition of the trade expo in Houston, Texas in the United States of America.

Tagged FITCC Houston, the event would hold on Wednesday, 18th and Thursday, 19th October 2023 at the George R. Brown Convention Center, 1001 Avenida de las Americas, Houston, Texas 77010.

Emphasizing the important role FITCC plays in the bank’s export trade strategy, she said, “Fidelity Bank is very much invested in supporting export trade and has consistently demonstrated this by the interventions and innovations that we bring to the space. Beyond the instrument of financing, some of our key interventions in the space revolve around business management capacity development with initiatives like the Export Management Programme (EMP) which we host in partnership with the Lagos Business School and the Nigerian Export Promotion Council (NEPC) and market access development initiatives like FITCC.”

Besides, Nneka maintained that to promote Nigeria’s non-oil exports and facilitate integrations to global supply-chain networks, FITCC Houston will host leading businesses, entrepreneurs, investors and regulators operating in the commodity, service, creative, fashion and FinTech sectors in Nigeria and the United States, adding that participants would explore partnership, co-creation and foreign direct investments opportunities.

“Participating businesses will benefit from curated market access engagements, investment and partnership opportunities, extended brand exposure before a global audience as well as speaking and networking opportunities amongst a long list of benefits in FITCC Houston”, she noted

In terms of dividend payments, shareholders of Fidelity Bank under Nneka, had cause to smile as the board of directors approved a final dividend of 40kobo per share even as they commended the leadership of the  bank for delivering an exceptional performance in FY 2022. Earlier, the shareholders had received interim dividend of 10 kobo per share in 2022, bringing the payout to 50 kobo for the 2022 business year as against 35 kobo paid for the 2021.

Recently also, following its impressive run in the stock market in months, the Nigerian Exchange Limited (“NGX”) reclassified Fidelity Bank Plc from small price stock to medium price stock, a reclassification borne out of the bank’s shares which have been trading above the N5.00 mark since February this year.

“Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules) notes that equities priced above N5 per share for at least four of the most recent six months of trading, or new security listings priced above N5 per share at the time of listing on NGX are classified as medium price stock,” the Exchange noted.

Nneka joined Fidelity as an Executive Director in 2015 and was appointed Managing Director/CEO of the Bank in January 2021.

Following the appointment, she made history by becoming the first female MD/CEO  of the bank with a client base of over 8 million customers and one out of the six other female CEOs in the industry.

An alumnus of the prestigious University of Nigeria, Nsukka and Kings College, London where she holds a Bachelor of Law and Masters of Law respectively, the CEO 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 is currently undergoing a Diploma programme in Organizational Leadership at Said Business School, Oxford University, UK.

Born on July 28, 1964, Nneka has over 32 years of experience in investment banking, treasury management and international banking; as well as widely regarded as one of Africa’s leading CEOs with a reputation for identifying capital opportunities and executing business deals.

 Under her leadership the institution has been adjudged by many industry leading experts as the fastest growing bank in Nigeria while Nneka’s  deep understanding of “complex businesses and markets has enabled it  undertake large ticket transactions in financial advisory, structured and project finance in the real sectors as well as take advantage of opportunities in selected high growth international markets where the Bank has a competitive advantage.

In recognition of her leadership and outstanding performance, the bank has received several awards within and outside the country including: 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; Trade Ambassador Award by the Nigerian-American Chamber of Commerce (NACC); Global Finance’s World’s Best Private Banks 2023 awards for Best Private Bank in Nigeria and Best Private Bank Digital Solutions for Clients in Africa.

Justifiably too, Mrs. Onyeali-Ikpe has been bestowed with many laurels among them the Commander of the Order of the Niger, CON; the 2022 Champion Newspapers’ Banker of the Year; the Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards as well as the  Best Banking CEO Nigeria 2023 in the 2023 Global Banking & Finance Awards.

Consequently, her remarkable performance as CEO since January 2021 has corroborated the widely held view that even in a male dominated sector or society, women will continue to provide the foundation of power, grace, wisdom, justice, creativity, and hope as well as   possess better intuition, patience, emotional focus, compassion and networking abilities amongst their greatest strengths. Happy birthday ma.