Fidelity Bank’s Chairman, Chike-Obi Succeeds Osaretin Demuren As BDAN President

The Bank Directors Association of Nigeria (BDAN) has announced the appointment of Fidelity Bank Plc’s Chairman, Mustafa Chike-Obi, as president, following the completion of Osaretin Demuren’s tenure.

The appointment was confirmed in a statement by the Executive Secretary of the BDAN, Adebukola Orenuga.

Acccording to Mrs Orenuga Mr Chike-Obi’s appointment was ratified by the Forum for Banks’ Chairmen organised by the BDAN in June 2021.

On his part, Mr Chike-Obi, a former head of the Asset Management Company of Nigeria, (AMCON) said he would continue to pursue the mandate of the association by working with relevant stakeholders to ensure banks play a more active role in the nation’s economy.

“As the chairman of this important association, I plan to represent more robustly, the interest of the banking industry and to project the image of the banking industry as an essential partner with our customers and the Nigerian economy as a whole.

“These are no-doubt interesting times given the COVID-19 pandemic and resulting economic challenges.

“I look forward to partnering with shareholders as well as customers, regulators and all other players to contribute our quota to positioning the Nigerian economy for sustainable growth and recovery,” he said.

The incoming chairman has over 40 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms.

He was appointed to the Board of Fidelity Bank Plc in August 2020 and is currently the Executive Vice Chairman at Alpha African Advisory where he provides overall leadership and has direct oversight over the capital raising division.

Prior to joining Alpha African Advisory, he was the inaugural Chief Executive Officer of the Asset Management Corporation of Nigeria (AMCON), a federal government institution established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis.

BDAN is a non-profit making organisation, limited by guarantee, which was set up to be an effective forum for representing the interests of bank directors in Nigeria.