AMCON’s pioneer CEO becomes Fidelity Bank’s chairman

Mustafa Chike Obi, who was the pioneer Chief Executive Officer (CEO) of Asset Management Company of Nigeria (AMCON), is now the Chairman of Fidelity Bank PLC.

Mr Chike-Obi succeeds Ernest Ebi, whose tenure expired in conformity to the Fidelity Bank’ corporate governance culture, the lender said in a statement on Sunday. Ebi clocked 70 recently.

Chike-Obi is also the executive vice-chairman of Alpha African Advisory, a Lagos-based financial consultancy covering financial services, manufacturing, transport, oil and gas, agriculture among others.

Read also: Fidelity Bank’s Full Year profit rises by 29%

He was the inaugural CEO of AMCON, which set out at inception to resolve the challenge of humongous non-performing debt portfolio of Nigerian banks through recovery following the 2008 global financial crisis.

Fidelity Bank’s CEO, Nnamdi Okonkwo lauded exiting board members for their contributions while in service, acknowledging the benefits gained by the organisation from their experiences and saying the bank was hopeful that Chike-Obi would sustain its upward progression.

For the time being, Ebi will hold the position before his successor takes over.

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