Meet Nneka Onyeali-Ikpe – The Woman Who Turned the Fortunes of Fidelity Bank Around

 

 

Within the last couple of years, Fidelity Bank PLC has experienced a turn in its fortunes and joined the league of innovative banks in Nigeria. Who is the reason behind the change in fortunes – a certain Nneka Onyeali-Ikpe.

Since assuming office as Managing Director/CEO of Fidelity Bank on 1 January 2021, Mrs. Onyeali-Ikpe has succeeded in making Fidelity Bank more attractive to the younger generation through the implementation of more flexible banking packages and innovative rebranding. 

Despite boasting over 28 years of experience in the banking and financial sector, very little was known about Mrs. Onyeali-Ikpe before she assumed the position of MD/CEO of Fidelity Bank. 

Who really is Mrs. Nneka Onyeali-Ikpe? In this article, we highlight all you need to know about the new MD/CEO of Fidelity Bank and her achievements within the last two years that have helped to turn the fortunes of the Bank for the better. 

Biography and Education

Nneka Onyeali-Ikpe was born on 28 July 1964 in Awka, the capital of Anambra State, Nigeria. She grew up in the neighbouring eastern Nigerian state of Imo, where she attended Federal Government Girls’ College. 

She proceeded to obtain a Law Degree from the University of Nigeria, Nsukka, and a Masters in Law from King’s College, London.

She is a Nigerian business and finance executive cum banker. She is the first woman to assume the position of Managing Director and Chief Executive Officer of Fidelity Bank Nigeria since it began operations in 1988 as a Merchant Bank. 

 

Early Career

Nneka Onyeali-Ikpe began her career early in the banking sector as a legal officer with the now-defunct African Continental Bank in 1990. 

After leaving the African Continental Bank, she joined the First African Trust Bank, where she served as the Bank’s treasury officer. She also worked with Zenith Bank and Standard Chartered Bank in the early 2000s.  

In 2011, Mrs. Onyeali-Ikpe took a huge step in her banking career when she was appointed as an Executive Director of Enterprise Bank PLC and tasked with overseeing the Bank’s operations in Lagos State and across the south western region in Nigeria.

 

The Fidelity Bank Journey 

Nneka Onyeali-Ikpe left Enterprise Bank for Fidelity Bank PLC as an Executive Director in January 2015. She was tasked with the same duties as she handled for Enterprise Bank. In addition, she managed the bank operations in the six south western states of Nigeria.

Her hard work and dedication were rewarded in 2020 when she was announced as the Managing Director of the Bank in December 2020. She assumed office as the Bank’s Managing Director/CEO on 1 January 2021.

Upon resumption, she led a transformation team at the Bank, which improved its operations and sustained impressive growth on all key performance metrics and indexes, including contributing over 28% of the Bank’s PBT, Deposits, and Loans.

She is an Honorary Senior Member (HCIB) of The Chartered Institute of Bankers of Nigeria (CIBN).

 

The Growth of Fidelity Bank under Nneka Onyeali-Ikpe

Since assuming office in 2021, Fidelity Bank has expanded operations across the country, serving over 6.5 million customers through 250 operational branches and numerous digital platforms. 

Within her first year as MD/CEO of Fidelity Bank, the Bank announced a 35.7 percent growth in PBT to N38.1bn. The Bank also proposed a dividend of 35 kobos per share for the year, which ended on 31 December 2021.

The banks have continued to record growth which continues on an exponential curve.