Fidelity Bank Plc has announced the appointment of Mustafa Chike-Obi as Chairman of the Board of Directors, according to a notice signed by the bank’s Company Secretary, Ezinwa Unuigboje, and sent to the Nigerian Stock Exchange.
The appointment has been approved by the Central Bank of Nigeria and will take effect on August 14, 2020, after the expiration of the tenure of the current Chairman, Mr Ernest Ebi.
The bank also announced in the notice, the retirement of Mr Seni Adetu, who served as Independent Non-Executive Director on the board, having stepped down from the board after completing his tenure on June 30, 2020.
In the notice, the board of directors and the management of the bank expressed their appreciation to Mr Ernest Ebi and Mr Seni Adetu for their contributions to the progress of the bank during their tenures.
“Under the chairmanship of Mr Ernest Ebi, the bank recorded significant growth across key financial metrics, with both Messers Ebi and Adetu playing significant roles, complementing management efforts in the delivery of these milestones; in service of the long-term vision of the bank. The banks market share position has also been materially strengthened over the period,” the notice read.
The notice further stated that the appointment is in line with the bank’s high governance standards and best practices, and in compliance with internal succession policies, adding that Mr Ebi will, over the next six weeks, ensure a successful transition and smooth handover to Mr Chike-Obi.
A look at the profile of Mr Mustafa Chike-Obi showed that he has over 40 years’ experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms.
He is currently with the Alpha African Advisory, where he provides leadership and oversees the capital-raising division.
Chike-Obi was the inaugural Chief Executive Officer of the Asset Management Corporation of Nigeria (AMCON), from where he joined Alpha African Advisory.
He was also founding president at Madison Advisors, a financial services advisory and consulting firm in New Jersey, where he specialised in hedge funds and private equity investment advice.
He holds a bachelor’s degree in Mathematics from the University of Lagos, and an MBA from Stanford University Graduate School of Business.
