17 Jan. 2025, Lagos, Nigeria – In a strategic move to sustain its impressive performance, leading financial institution Fidelity Bank Plc has announced significant changes to its Board of Directors, effective January 14, 2025.

According to a regulatory filing on the corporate disclosure portal of NGX Regulation Limited, the Bank has received the Central Bank of Nigeria’s (CBN) approval to appoint Alhaji Abdullahi Sarki Mohammed as an Independent Non-Executive Director, Ms. Obiaku Augusta Okam as a Non-Executive Director, and Mr. Sufiyanu Ibrahim Garba as an Executive Director, all effective January 14, 2025.

Alhaji Mohammed brings over 36 years of experience in financial services, public administration, and human resources development, having held key leadership and executive roles at prestigious institutions including First Bank of Nigeria Plc and Polaris Bank Limited. His extensive expertise encompasses banking, public service, and business advisory.

Ms. Okam boasts more than 30 years of impressive experience across banking, financial services, real estate, and retail sectors. Currently the Managing Director/CEO of Skycurve Nigeria Limited, she has held leadership positions at Zenith Bank Plc and Nigeria International Bank Limited (Citibank).

Mr. Garba has over 30 years of multifunctional and cross-border experience at leading financial institutions in Nigeria and the United Kingdom including executive and leadership roles at prestigious financial and non-financial institutions such as Access Bank Plc, Union Bank of Nigeria Plc and Keystone Bank Limited. His career background spans banking, financial services, public service, general management and business origination across a broad range of segments.

Commenting on the appointment, Mustafa Chike-Obi, Chairman of Fidelity Bank Plc stated that “The Board welcomes these distinguished individuals and looks forward to leveraging their extensive experience to drive the Bank’s strategic objectives and further its growth trajectory.”

In a separate regulatory filing on January 16, 2025, the Bank announced the meritorious retirement of Alhaji Isa Mohammed Inuwa, a former Independent Non-Executive Director, and Mr. Chidi Agbapu, a former Non-Executive Director, following the completion of their tenures in line with the Bank’s policies whilst expressing sincere appreciation for their service and wishing them the very best in their future endeavours.

Ranked among the best banks in Nigeria, Fidelity Bank is a full-fledged customer commercial bank serving over 8.3 million customers through its 251 business offices in Nigeria and the United Kingdom, as well as through digital banking channels. The bank has garnered multiple local and international awards, including the Export Finance Bank of the Year at the 2023 BusinessDay Banks and Other Financial Institutions (BAFI) Awards, Best Payment Solution Provider Nigeria 2023, and Best SME Bank Nigeria 2022 by the Global Banking and Finance Awards. It was also recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence 2023 and the Best Domestic Private Bank in Nigeria by the Euromoney Global Private Banking Awards 2023.

The Central Bank of Nigeria has sanctioned nine Deposit Money Banks with fines totalling N1.35bn for failing to ensure cash availability via Automated Teller Machines during the festive season.Each of the banks was fined N150m following spot checks that revealed non-compliance with the apex bank’s cash distribution guidelines.

The affected banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc.

The fines will be directly debited from the banks’ accounts with the CBN.

In a press statement released on Tuesday, the Acting Director of Corporate Communications at the CBN, Mrs Hakama Sidi Ali, emphasised the regulator’s commitment to ensuring seamless cash availability.

The statement read, “In a clear message of zero tolerance for cash flow disruptions, the Central Bank of Nigeria has sanctioned Deposit Money Banks for failing to make Naira notes available through automated teller machines, during the yuletide season.“Each bank was fined N150m for non-compliance, in line with the CBN’s cash distribution guidelines, following spot checks on their branches. The enforcement action follows repeated warnings from the CBN to financial institutions to guarantee seamless cash availability, particularly during periods of high demand.

“The affected banks include Fidelity Bank Plc, First Bank Plc, Keystone Bank Plc, Union Bank Plc, Globus Bank Plc, Providus Bank Plc, Zenith Bank Plc, United Bank for Africa Plc, and Sterling Bank Plc.

”Sidi-Ali noted that CBN will not hesitate to impose further sanctions on any institution violating its cash circulation guidelines.The apex bank had previously warned banks to comply with cash distribution policies.The CBN has pledged to intensify monitoring of cash hoarding and rationing at bank branches and Point-of-Sale terminals.The regulator was collaborating with security agencies to address illegal cash sales and ensure compliance with the daily withdrawal limit of N1.2m for POS operators.Last September, the CBN announced plans to penalise banks failing to dispense cash via ATMs as part of efforts to ensure adequate cash circulation.In November, the bank urged customers to report ATM and branch cash withdrawal issues starting December 1, 2024, through designated state-specific phone numbers and email addresses.The fines underline CBN’s determination to prioritise customer needs and ensure uninterrupted access to cash.

Lagos, January 14, 2025 – Continuing its efforts to foster sustainability in Nigeria, Ecobank Nigeria has unveiled a new art installation, Kong in a Cage, by artist Toyeeb Ajayi. The installation, made entirely from recycled materials, is now on display at the Ecobank Pan African Centre (EPAC) on Ozumba Mbadiwe, Victoria Island, Lagos. This thought-provoking piece, which reflects on humanity’s confinement of nature, will be open to the public on Saturdays and Sundays. Bolaji Lawal, Managing Director/Regional Executive of Ecobank Nigeria, emphasized that the installation is part of the bank’s ongoing commitment to sustainability, environmental protection, and the promotion of Nigeria’s creative industries. He added that the bank remains dedicated to offering a global platform for emerging Nigerian artists, especially in the fields of sustainability and the arts. Lawal also pointed out that Kong in a Cage aligns with Ecobank’s broader mission to promote the creative sector across Africa. “Our aim is to highlight the incredible talent of Nigerian artists, providing them with opportunities to showcase their work both locally and internationally. The creative sector is an essential driver of economic growth, well-being, and global interconnectedness. At Ecobank, we are committed to investing in the future of our youth, helping to shape a brighter future for Nigeria.” Artist Toyeeb Ajayi shared that Kong in a Cage is a commentary on environmental sustainability, with the installation’s use of recycled materials reflecting this theme. Situated in the midst of an urban business environment, the piece serves as both a warning and a call to action, offering a visual critique of humanity’s impact on the planet through the lens of art. “By employing sustainable materials and practices, this installation does more than just entertain—it prompts a conversation about the intersection of art and environmental stewardship,” said Ajayi. “Kong in a Cage is not just an artwork; it’s a dialogue—a visual plea for accountability, responsibility, and a renewed respect for the fragile balance between humanity and nature. I encourage everyone to reflect on humanity’s impact on the environment, consider the potential of reclaimed materials, and rethink our relationship with the planet.” Ecobank’s commitment to environmental sustainability is well-documented, with initiatives such as the “Get Cash for Plastic Bottles” campaign, which removed over four million plastic bottles from the streets and drains of Lagos. The bank is also actively involved in tree planting efforts aimed at preserving and protecting the environment.