Fidelity Bank Plc has announced the appointment of Mustafa Chike-Obi as the new chairman of the bank. This follows the retirement of Ernest Ebi at the completion of his tenure and in line with the bank’s internal governance policy.
A press release by the bank also disclosed that Seni Adetu, an independent non-executive director, has completed his tenure too and would also be leaving.
Chike-Obi, the new chairman is currently the executive vice-chairman at Alpha African Advisory. He was also the first chief executive officer of the Asset Management Corporation of Nigeria (AMCON), an institution established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis.
The statement by Fidelity Bank further revealed that he has over 40 years of experience in investment banking and the financial services sector. He has worked 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,” the statement from the bank disclosed.
The departing chairman,Ernest Ebi expressed satisfaction with the appointment.
Ebi said, “I feel that the management team has consolidated on our plans to become one of the fastest-growing banks in the country strongly rooted in technology only comparable with the best in the world.
“I am confident that my successor will continue on that path to take the bank to its next stage of growth and advancement. I wish my successor, the management team, and the entire staff of Fidelity Bank the very best for continued success.”
Nnamdi Okonkwo, Fidelity Bank’s CEO, also commended the contributions of the outgoing board members, saying the bank has benefited immensely from their experiences and looked forward to continuing the bank’s upward growth trajectory with the incoming team.
Chike-Obi is the son of legendary mathematics professor and the first Nigerian to hold a doctorate in mathematics- Professor Chike Obi.
Like his father, the new Fidelity Bank chairman also holds a bachelor’s degree in mathematics from the University of Lagos (first class honors) and an MBA from Stanford University Graduate School of Business.
