Change is the only permanent thing in life. Already, the staff and management of Fidelity Bank are experiencing that as Reginald Ihejiahi, former chief executive officer, CEO, of the bank, takes a bow while Nnamdi Okonkwo takes over the mantle of leadership effective January 1, 2014. The succession process, which has been approved by the Central Bank of Nigeria, CBN, was a smooth process.
Chris Ezeh, chairman of the bank, hopes that the new development would take the financial institution to a greater height. According to him, Fidelity is now the sixth largest bank in Nigeria, in terms of shareholders’ funds, and one of the few companies that have consistently paid dividends, without fail, in the last eight years.
Before this successful transition, Okonkwo, the third CEO of the commercial bank, was the executive director in charge of the South Directorate of the bank. The alumnus of Harvard Business School and Wharton School University of Pennsylvania, United States, has over 24 years experience in various aspects of banking covering domestic operations, corporate finance, corporate banking, retail, and commercial/consumer banking. Before joining Fidelity Bank, he had a career in United Bank for Africa, UBA, where he rose to the position of managing director and CEO, UBA Ghana, and later doubled as the regional CEO, UBA West African Monetary Zone, covering Ghana, Liberia and Sierra Leone.