Nelson Nweke, a Non-Executive Director at Fidelity Bank, Invest Additional N54.852 Million in the Bank

Mr. Nelson Nweke, a non-executive director of Fidelity Bank Plc, in June increased his investment in the bank by 54,851,860.2, according to the management of Fidelity Bank.

Mr. Nweke purchased 21,805,180 shares of the bank valued at N49,933,862.2 at N2.29 a unit between June 23-29, 2021 in Lagos, Nigeria.

On Monday, June 28, 2021, the non-executive director acquired another 2,138,260 shares worth N4,917,998 at N2.30 a unit. Bringing his total purchase to N54,851,860.2 or 23,943,440 shares.

It would be recalled that Investors King reported that Mr. Nelson Nweke, who was appointed to the bank’s board on January 1, 2021 bought 13,005,700 shares of Fidelity Bank in May 2021 at an average price of N2.07 per share, representing an investment of N26.922 million.

With this new addition, Nweke has invested N81,773,860 in the bank since he joined its board in January.

Mr. Nelson Nweke currently serves as the Managing Director of Neilville Nigeria Limited and an Independent Non-Executive Director at Berger Paints PLC. Prior to joining the Board of Fidelity Bank, he had previously served as a Non-Executive Director of Premium Pension Limited and was a member of the Governing Council of Anambra State Investment Promotion and Protection Agency between 2014 and 2018.

His banking industry experience covers Operations, Public Sector, Corporate Services and Human Resources Administration, with an extensive career in the financial sector, rising to the position of Executive Director at legacy Intercontinental Bank Plc.

He holds a Bachelor’s degree in Political Science and an Msc. in Industrial and Labour Relations, both from the University of Ibadan. He has also attended various executive development programmes at world class business schools including INSEAD, France; IMD, Lausanne, Switzerland; and Harvard Business School, amongst others. He is an Associate Member of the Chartered Institute of Stockbrokers (CIS), Member Chartered Institute of Personnel Management (CIPM) and Nigeria Institute of Management (NIM).