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Fidelity Bank CEO Mrs. Nneka Onyeali-Ikpe Honored as Banker of the Year 2022 at Champion Newspapers’ Awards

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Fidelity Bank MD - Mrs Nneka Onyeali-Ikpe

In a spectacular celebration of exceptional achievements and outstanding leadership, Mrs. Nneka Onyeali-Ikpe, the Managing Director/Chief Executive Officer of Fidelity Bank Plc, has been recognized as the Banker of the Year 2022 at the prestigious Champion Newspapers’ Awards.

The ceremony, held at the renowned Eko Hotel and Suites, was attended by distinguished personalities from various sectors, adding grandeur to the occasion.

The Banker of the Year award is a testament to Mrs. Onyeali-Ikpe’s remarkable contributions to the banking industry and her exceptional leadership at Fidelity Bank. This recognition serves as a testament to her unwavering dedication, visionary approach, and relentless pursuit of excellence.

Surrounded by her family, friends, and colleagues, Mrs. Onyeali-Ikpe accepted the award with heartfelt gratitude. She expressed her deep appreciation for the honor bestowed upon her and dedicated it to the board, management, and staff of Fidelity Bank PLC, as well as her supportive family.

The accolade not only celebrates her personal achievements but also highlights the collective efforts of the entire Fidelity Bank team in driving the institution’s success.

The Chairman of the occasion, Otunba Olusegun Runsewe, who is also the Director General of the National Council for Arts and Culture, emphasized the importance of recognizing and rewarding exceptional performance. He emphasized that when hard work and integrity are duly recognized, it sets a precedent for promoting excellence and discouraging mediocrity. Runsewe commended the rigorous process undertaken to select the awardees, affirming their merit and deserving nature.

Dr. Nwadiuto Iheakanwa, the Group Managing Director of Champion Newspapers, delivered the opening remarks, underlining the significance of hard work and continuous efforts to unlock Nigeria’s full potential across all sectors. She specifically challenged the incoming administration to prioritize improving the ease of doing business by streamlining administrative structures and eliminating bottlenecks. Dr. Iheakanwa believes that fostering a conducive environment for business will enable the nation to expand its productive capacity and attract more foreign earnings beyond the oil sector.

The Champion Newspapers’ Awards also recognized other distinguished individuals who have made significant contributions to their respective fields. Brigadier-General Mohamed Buba Marwa (rtd), the Chairman of the National Drug Law Enforcement Agency (NDLEA), was honored as the Man of the Year. Chief Ayo Adebanjo, the Afenifere Leader, received the Life Achievement Award, while Governor Babajide Sanwo-Olu of Lagos State was named the Governor of the Year. Governor Ademola Adeleke of Osun State received the Governor of the Year, Good Governance award. Chief Dr. Cyril Onyekwelu Umunna Ajagu was recognized as the Most Outstanding Savvy Investor of the Year, and High Chief Michael Onuoha received the Most Innovative Brand CEO of the Year award.

This latest accolade adds to Mrs. Onyeali-Ikpe’s growing list of achievements. She was previously awarded the Banker of the Year 2022 at the 14th Leadership Annual Conference and Awards, and also named the Best Banking CEO Nigeria 2023 in the prestigious Global Banking & Finance Awards. Her consistent recognition as a top industry leader and being listed as one of the top 10 female finalists in the Africa.com Definitive List of Women Chief Executive Officers (CEOs) further solidify her standing in the business world.

 

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Businessinsider, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

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Banking Sector

Access Holdings Plc Plans $1.8 Billion Capital Raise

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Access bank

Access Holdings Plc, the parent company of Nigeria’s leading bank, Access Bank Plc, has unveiled ambitious plans for a $1.8 billion capital raise aimed at fueling its expansion efforts over the next four years.

The strategic move comes as Access sets its sights on becoming one of the largest lenders on the African continent.

During a conference call with investors in Lagos, executives outlined the company’s intention to raise $1.5 billion, or the naira equivalent, through the issuance of shares, bonds, or other financial instruments.

Also, Access aims to generate up to 365 billion naira ($257 million) by selling shares to existing investors.

Bolaji Agbede, acting group chief executive officer, clarified that the current fundraising initiative primarily involves a rights issue.

The capital infusion is earmarked to support Access’s ambitious growth plan, which commenced last year.

The bank intends to expand its footprint into new markets, including Morocco, Egypt, and the United States, as part of a broader strategy to double the share of assets outside its home market by 2027.

With operations spanning 22 countries, including the United Arab Emirates and the UK, Access Bank is positioning itself for significant international growth.

The recent appointment of Bolaji Agbede as acting group CEO follows the passing of co-founder and former CEO, Herbert Wigwe, adding a layer of significance to the bank’s future direction.

Access’s acquisition of National Bank of Kenya Ltd. underscores its commitment to expanding its presence in East Africa’s largest economy.

As Access Bank charts its course for expansion, the $1.8 billion capital raise signals its determination to seize opportunities in a rapidly evolving financial landscape, both domestically and across the African continent.

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Banking Sector

Safaricom, Access Holdings Forge Partnership to Revolutionize Remittance Corridor in Africa

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Access bank

Safaricom, the leading telecommunications company in Kenya, has entered into a strategic partnership with Access Holdings, spearheaded by Aigboje Aig-Imoukhuede.

The collaboration aims to revolutionize the remittance corridor between East and West Africa, marking a significant step towards enhancing financial inclusion and empowering millions of individuals across the continent.

The partnership comes on the heels of Access Holdings’ recent acquisition of the National Bank of Kenya Limited, signaling the company’s ambitious expansion into the East African market.

Leveraging Safaricom’s extensive network and expertise in mobile money through M-Pesa, which currently dominates the mobile money market in Kenya, the alliance seeks to create seamless and efficient channels for remittance transactions.

Aigboje Aig-Imoukhuede, the driving force behind Access Holdings, expressed enthusiasm about the collaboration, highlighting its potential to transcend traditional boundaries and foster greater economic connectivity between East and West Africa.

He highlighted the fusion of collective expertise and resources between the two entities, underlining their shared commitment to driving financial inclusion and empowerment across the continent.

The partnership holds promise for addressing the challenges faced by millions of Africans in accessing affordable and reliable remittance services.

By connecting more than 60 million customers and 5 million businesses across eight countries, the collaboration aims to facilitate over $1 billion in daily transaction value, significantly boosting the flow of remittances within and outside Africa.

With the first phase of the collaboration focusing on key markets such as Nigeria, Kenya, Ghana, and Tanzania, stakeholders anticipate a transformative impact on the remittance landscape, paving the way for greater intracontinental trade and economic integration in line with the objectives of initiatives like the African Continental Free Trade Area (AfCFTA).

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Banking Sector

EFCC Urged to Repatriate Recoveries to NDIC for Depositors’ Relief

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The Nigeria Deposit Insurance Corporation (NDIC) has made a fervent plea to the Economic and Financial Crimes Commission (EFCC) to expedite the repatriation of recovered funds to its coffers to facilitate the timely reimbursement of depositors affected by bank failures.

During a recent meeting between the Managing Director of NDIC, Bello Hassan, and the Executive Chairman of the EFCC, Ola Olukoyede, at the NDIC headquarters in Abuja, Hassan stressed the importance of enhanced collaboration between the two agencies in recovering depositors’ funds lost due to bank failures.

Hassan emphasized that the return of recoveries made by the EFCC on behalf of the NDIC would significantly contribute to the prompt reimbursement of affected depositors.

He commended the EFCC for its unwavering efforts in combating corruption and financial crimes, highlighting its crucial role as a key member of the Taskforce on Implementation of the Failed Banks Act chaired by the NDIC.

The NDIC boss also highlighted the existing partnership between the two organizations, which led to the establishment of the NDIC Help Desk at the EFCC in 2022.

He disclosed that several high-profile cases referred to the EFCC were currently under investigation.

In response, Olukoyede reiterated the EFCC’s commitment to collaborating closely with the NDIC to combat financial crimes and safeguard the integrity of the Nigerian banking sector.

He pledged to intensify efforts to repatriate recovered funds promptly, acknowledging the interconnectedness between criminal activities and bank failures.

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