News
Fidelity bank records N76.3b PBT for H1 2023
Lagos, Nigeria, September 3, 2023: Leading financial institution, Fidelity Bank Plc has recorded an impressive 204.4% growth in Profit Before Tax for the first half of 2023 to N76.3bn according to the bank’s recently issued financial result.
A review of the results published on the Nigerian Exchange Group (NGX) on Friday, 1 September 2023, showed a positive performance across all financial indices, reaffirming the Bank’s position as one of the fastest growing and well-managed financial institutions in Nigeria. Gross earnings for the period grew by 59.6% to ₦247.1billion from ₦154.8billion reported in June 2022. Profit After tax stood at ₦61.9billion representing a growth of 166.0% over ₦23.3billion recorded in the corresponding period. This translates to an Earning per Share of 194kobo. The Bank’s Net Loans & Advances grew by 25.1% from ₦2.1trillion recorded as of December 2022 to ₦2.6trillion in June 2023 with corresponding growth in Customer Deposits which increased by 23.2% to ₦3.2trillion from ₦2.6trillion in December 2022.
The Bank’s balance sheet remained strong with a 27.4% growth in Total Assets from ₦3.9trillion in December 2022 to ₦5.1trillion. The Bank’s non-performing loans remained low and within regulatory threshold at 3.24% with adequate coverage of 111%. Return on Equity (ROE) and Return on Assets (ROA) closed at 34.9% and 2.8% respectively.
On the back of the strong H1 2023 performance, the board of the bank approved an interim dividend of 25k per share making it the second consecutive year the bank would be paying interim dividends and another demonstration of its capacity to provide shareholders with sustainable value.
Commenting on the Bank’s laudable performance, Nneka Onyeali-Ikpe, MD/CEO, Fidelity Bank Plc noted, “We are pleased to report on another period of quality growth across all financial and non-financial indices. Our performance during the first half of the year reflects the resilience of our bank and the fundamental strength of our business to deliver long-term sustainable value at a time that has been characterized by global economic headwinds. As a bank, we remain committed to our goal of helping individuals to grow, inspiring businesses to thrive and empowering economies to prosper.
The Bank’s impressive H1 2023 results come to join a string of recent achievements by Fidelity Bank. It would be recalled that the Bank’s stock was reclassified from small-price stock to medium-price stock by the NGX in July 2023 on the back of a consistent impressive performance.
Similarly, the bank recently emerged the company with the highest earnings per share on the NGX based on half year financial figures for the second year running.
To sustain this sterling performance, the bank’s shareholders, at an Extra-Ordinary General Meeting held on 11 August 2023, unanimously approved a capital raising exercise via a Public Offer and Rights Issue.
“We will continue to monitor and pro-actively manage the evolving risks in the economy while ensuring our commitments to our customers and shareholders are fulfilled. The interim dividend of 25kobo per share, a 150% increase compared to the 10kobo interim dividend in 2022FY, attests to the value we place on the unwavering support from our shareholders”, stated Onyeali-Ikpe.
Fidelity Bank is a full-fledged commercial bank operating in Nigeria with over 8 million customers serviced across its 250 business offices and digital banking channels. The bank was recently recognized as the Best SME Bank Nigeria at the 28th annual Euromoney Awards for Excellence 2023; and the Best SME Bank Nigeria 2022 by the Global Banking & Finance Awards. The bank has also won awards for the “Fastest Growing Bank” and “MSME & Entrepreneurship Financing Bank of the Year” at the 2021 BusinessDay Banks and Other Financial Institutions (BAFI) Awards.
News
NiMet DG Anosike urges service providers to move beyond institutional compliance to measurable impacts on citizens
The Director-General and Chief Executive Officer of the Nigerian Meteorological Agency (NiMet), Professor Charles Anosike, has called on public institutions to move beyond regulatory compliance and certifications to delivering measurable results that create lasting value for citizens.
The DG/CEO of NiMet, who was represented by the Director, Engineering and Technical Services, Engr. Hamid Olayinka Abdulkareem, made the call during his keynote address at the 3rd National Quality Improvement Summit and Awards, organised by the Quality Improvement Institute of Nigeria (QIIN) in Abuja on Thursday 12 November 2026. Speaking on the theme, “Quality: Powering Performance – Moving Beyond Compliance to Measurable Results,” Professor Anosike emphasised that institutional credibility must be earned through consistent service delivery, accountability, innovation and continuous improvement.
Highlighting NiMet’s commitment to international quality standards, the DG/CEO disclosed that the Agency secured ISO 9001:2015 certification for aeronautical meteorological services at Yola, Osubi and Owerri airports in July 2026, alongside the successful recertification of five other airports, bringing its total number of QMS-certified airport stations to eight. He stressed that quality assurance in meteorological services is critical to aviation safety, agricultural productivity, disaster preparedness and national economic development.
Professor Anosike further highlighted the integration of the Balanced Scorecard Performance Management System into NiMet’s 2026–2030 Strategic Plan as a significant step towards strengthening institutional accountability. He explained that the framework connects strategic objectives with measurable performance indicators, ensuring that organisational success is assessed not merely by activities undertaken but by results achieved and value delivered.
He urged institutions to invest in people, technology and stakeholder partnerships while embedding quality management into their organisational culture. According to him, sustainable institutional excellence requires leadership commitment, continuous evaluation and a deliberate shift from procedural compliance to measurable public impact.
News
Joint Aviation Unions Appoint Keyamo Grand Patron of Renewed Hope Support Group, Present ITF Position Paper Ahead of ICAO Conference
The Honourable Minister of Aviation and Aerospace Development, Festus Keyamo, SAN, today received a high-powered delegation of aviation labour unions under the Joint Aviation Trade Union Forum (JATUF), led by its Chairman, Comrade Ben Nnabue, in Abuja.
The delegation comprised top executives of the National Union of Air Transport Employees (NUATE) and other aviation unions, including the Air Transport Services Senior Staff Association of Nigeria (ATSSSAN), National Association of Aircraft Pilots and Engineers (NAAPE), and Association of Nigerian Aviation Professionals (ANAP). The unions are affiliates of the International Transport Workers’ Federation (ITF).
Other members of the delegation included Comrade John Ogbe, Vice Chairman; Comrade Alale Adedayo, Vice Chairman; Group Captain Bunmi Gandeh, Vice Chairman; and Comrade Hector Nnadi, Secretary of the Forum.
The visit was primarily to formally present the position paper of the International Transport Workers’ Federation (ITF) to the Minister, seeking Nigeria’s support for a motion advocating the integration of social sustainability, decent work and meaningful workers’ engagement into the global civil aviation framework at the forthcoming Seventh Worldwide Air Transport Conference (ATConf7) of the International Civil Aviation Organisation (ICAO), scheduled to hold in Montreal, Canada, from November 16 to 20, 2026.
According to Tunde Moshood, Special Adviser to the Hon. Minister on Media and Communications, the proposed motion, which has received Nigeria’s nod, underscores the need for the international aviation community to recognise that the sustainability and long-term success of civil aviation go beyond infrastructure development, technological advancement and economic growth to include the welfare, rights and professional development of the workforce that sustains the industry.
The unions stressed that the future of international civil aviation must be built on a framework that balances economic competitiveness with social responsibility, recognising aviation workers as indispensable stakeholders in the growth, safety and efficiency of the industry.
The Minister’s reception of the position paper further demonstrates Nigeria’s commitment to constructive engagement with organised labour and the promotion of policies that strengthen the aviation sector while protecting the interests of its workforce.
In a related development, the delegation also formally presented the Minister with an invitation to serve as Grand Patron of the Renewed Hope Aviation Support Group (RHASG), under the umbrella of the Strategic Collaboration for the Re-Election of President Bola Ahmed Tinubu, GCFR.
The nomination, made on behalf of the Board of Trustees, National Executive Council and entire membership of the organisation, recognises the Minister’s leadership, professional competence and capacity for strategic coordination.
The group congratulated Keyamo on his recent appointment as Director of the Directorate of Air Transport Mobilisation for the All Progressives Congress (APC) re-election campaign, describing the appointment as a testament to the confidence reposed in his leadership abilities, organisational experience and commitment to effective mobilisation.
According to the group, the Minister’s wealth of experience in managing complex responsibilities, coupled with his strategic understanding of the aviation industry, makes him well-positioned to provide political leadership, guidance and direction to the organisation.
The appointment as Grand Patron is intended to strengthen the group’s strategic direction and consolidate support for President Bola Ahmed Tinubu’s Renewed Hope Agenda and his anticipated re-election bid.
The development marks another demonstration of the growing intersection between organised aviation labour, industry stakeholders and broader national development objectives, with the Minister continuing to engage stakeholders on issues that affect the growth, sustainability and future of Nigeria’s aviation industry.
News
Gwarzo appoints Shehu Wada Sagagi as campaign DG
The Kano State governorship candidate of the Nigeria Democratic Congress, NDC, Comrade Aminu Abdussalam Gwarzo, has appointed a former Kano State Chief of Staff, Gwani Alhaji Shehu Wada Sagagi, as Director-General of his 2027 governorship campaign.
The appointment was announced in a statement issued on Wednesday by Ibrahim Garba Shuaibu, spokesperson to the NDC governorship candidate.
According to the statement, Gwarzo also named Alhaji Adamu Ali Ibrahim Kibiya as Secretary of the Campaign Directorate and Engr. Sunusi Usman Dambatta as Deputy Director-General.
Sagagi, a former Commissioner for Investment, Commerce and Industry and ex-chairman of the Peoples Democratic Party, PDP, in Kano State, is expected to lead the campaign’s activities ahead of the 2027 election.
The appointments take immediate effect, while the full membership of the campaign council will be announced later.
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