Wednesday, May 31, 2023
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Fidelity Bank announces board retirements and new appointments


Fidelity Bank Plc has announced the appointment of new members into the board even as it disclosed that some members had retired.

It said some directors that retired had successfully completed their tenure on the Board in accordance with the Bank’s internal governance policies.

In a statement, the bank said Mrs. Aku Odinkemelu, Executive Director, South Directorate, who was appointed to the Board on August 4, 2014, will be retiring by December 31, 2020.

It noted that as Executive Director, Aku played a defining role as a member of the transformation team in Fidelity Bank over the last 6 plus years. Her responsibilities covered the Commercial, SME, Consumer and Public Sector businesses of Fidelity Bank in the South East and South-South Regions of Nigeria and she provided leadership for 90 business offices within the 11 States under her purview, with her Directorate accounting for 31% of deposits, and 21% of Loans. In addition, the South Directorate under her supervision generated the highest PBT in the bank over the last 5 years 2015 – 2019, contributing over 23% of the total bank’s profit over the period.

It explained that Chief Charles Umolu, Non-Executive Director, completed his tenure and retired from the Board on December 16, 2020. He served on the Board Risk, Credit, Finance & General Purpose, Audit and Corporate Governance Committees and chaired the Board Credit Committee until he retired. Mr. Michael Okeke, also a Non-Executive Director, successfully completed his tenure and retired on December 18, 2020.

He was a member of various Board Committees including the Board Corporate Governance Committee, which he chaired from October 2018 to December 2019. Another Non- Executive Director, Mr. Alex Ojukwu, will complete his tenure and retire by December 31, 2020. He currently serves on the Board Credit, Risk, Audit and Corporate Governance Committees and chairs the Board Risk Committee.

The Board expressed profound appreciation to the outgoing Executive and Non-Executive Directors for their impressive contributions to the growth and development of the Bank. “Fidelity Bank is privileged to have benefited from the combined experience and expertise of these very accomplished Lady and Gentlemen. We thank them for their service to the Bank and wish them the very best in their future endeavors” said Mr. Mustafa Chike-Obi, Chairman, Fidelity Bank Plc.

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