Category: Business

Fidelity Bank Affirms Commitment to Data Protection and Strong Corporate Governance

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Our attention has been drawn to a news story titled, “NDPC Fines Fidelity Bank for Data Breach”. While the matter is a subject of an ongoing engagement with the regulator, we wish to assure the public that we have conducted ourselves to the highest ethical standards by ensuring full compliance with extant laws on data protection. Below is a breakdown of our dealings with the NDPC since we received their letter informing us about an alleged data breach: On April 30th, 2023, we received a notice of investigation from the…

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Stock Exchange rates Fidelity Bank highest on corporate governance

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Fidelity Bank Plc complies with the highest corporate governance standards as the leading commercial bank adheres promptly to all full disclosure requirements and global best practices. Fidelity Bank is awarded CG+, the highest rank under the Corporate Governance Rating System (CGRS), which screens quoted companies against prescribed best practices and standards. A review of the latest compliance report showed that Fidelity Bank sustains its highest-ranking rating of CG+, with shareholders and market pundits commending the high corporate standards of the bank. Head, Listings Regulation Department, NGX Regulation (NGXRegco), Mr. Godstime…

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Investors Scramble for Fidelity Bank’s Offers

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Investors are literally scrambling for shares of Fidelity Bank Plc as the leading commercial bank’s capital raising continues to gather momentum among all categories of investors. Investors’ appetite for Fidelity Bank is shown in massive subscriptions to its ongoing rights and public offers and voluminous trading at the stock market. Current weekly report shows that Fidelity Bank was the most active stock at the stock market, outperforming the banking sector and the overall market. Fidelity Bank recorded a turnover of 1.73 billion shares worth N18.27 billion in 1,579 deals to…

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2024 Union Bank Graduates new Management Trainees

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Union Bank of Nigeria, one of Nigeria’s foremost financial institutions, has added to its growing list of qualified personnel with the recent graduation of the 2024 set of Management Trainees. The ceremony, which was held at the Bank’s multiple-purpose sports complex, ‘The Stable, ’ in Surulere, Lagos, included the financial institution’s senior management officials and other staff, as well as the 166 Management Trainees graduates who successfully concluded their training programme. After collecting their certificates, the newly graduated Management Trainees were encouraged to imbibe the technical and soft skills they…

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Employee accuses ARM Pensions’ director of rape

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An employee of ARM Pension laid allegations of sexual assault against a senior executive of the company, during an office party. Ogochukwu Odogwu, an HR Business Partner at the firm, accuses Abisola Onigbogi, the Executive Director of Technical, of raping her after what was supposed to be a night of celebration turned into a harrowing experience. As Odogwu bravely shares her ordeal, she calls for justice and the urgent intervention of authorities to hold her alleged assailant accountable. Dear Opeyemi, My name is Ogochukwu Odogwu (formerly Temitayo-Omotere), and I am…

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Pace setting Fidelity Bank MD, Nneka Onyeali-Ikpe clocks 60

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There is tremendous excitement in the air as the first female Managing Director and Chief Executive Officer of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe clocked 60 years on Sunday July 28, given her outstanding performance in the nation’s financial services sector that had earned her respect amongst banks’ top CEOs. Besides leading the bank to close the 2023 financial year with strong double-digit growth across key income and balance-sheet lines with profit before tax growing by 131.5% to N124.3bn from N53.7bn in 2022FY, leading to an increase in Return on…

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Fidelity Bank’s Consistent Strong Growth Excites Investors

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Fidelity Bank Plc has recorded an average annual profit growth of 64 per cent over the past three years, underlining its resilience as one of Nigeria’s fastest growing companies. The bank has also seen rapid expansion in customer base and assets as total balance sheet size leapt from N2.1 trillion to N6.2 trillion, the sixth largest in the Nigerian banking industry. The balance sheet was driven by a hefty total deposit of more than N4 trillion, equally the sixth biggest in the industry. A review of the audited reports and…

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WITH GIANTS CAMPAIGN, FIRSTBANK IS TRULY WOVEN INTO THE FABRIC OF SOCIETY  

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The ‘Giant in you’ campaign of the FirstBank has again confirmed the common expression that ‘apple doesn’t fall far from the tree’ given the history of the financial brand and its legendary relevance to the growth of enterprises, within and outside Nigeria. In its usual creative conjecture, 13O-year-old FirstBank, has hit the airwaves and other media outlets with various visuals to articulate its new campaign ‘The Giant in You’. Breaking down the central message, ‘there is a giant in you’ the campaign stylishly reminds the bank customer that ‘FirstBank Puts…

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UAE denies $10,000 bank balance, N640,000 fee for Nigerian visa applicants

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The United Arab Emirates has denied approving $10k bank balance, and N640k fee requirements for Nigerians applying for visas into the country, reports The Cable, an online news agency. The Minister of Information and National Orientation, Mohammed Idris, announced on Monday, that the UAE authorities agreed to vacate travel restrictions imposed on Nigerians. Idris further revealed that applicants must fulfill certain conditions part of which was obtaining a document verification number on documentverificationhub.ae. According to the website, the verification costs a non-refundable N640,000 excluding VAT for each application. This does…

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Fidelity Bank eyes oversubscription to N127.1 billion combined offers

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Against the background of groundswell of supports and enthusiasm for the bank’s ongoing offers, Fidelity Bank Plc has started preparations to allow the bank absorb oversubscriptions. With investors rallying behind the bank’s N127.1 billion combined rights and public offer, market pundits had indicated that the bank would raise more than initial size of the combined offer. Reports have shown high subscription levels for the offers early weeks of the offer period, riding on the back of acceptances by existing shareholders and demand by the general investing public. Fidelity Bank is…

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