Fidelity Bank CEO Foresees Brighter Economic Prospects


Peter Uzoho

The Managing Director/Chief Executive Officer of Fidelity Bank Plc, Mr. Nnamdi Okonkwo has said that with the improved foreign exchange supply in the country and the decelerating inflation, economic activities in Nigeria would increase.

Speaking during his investiture as the new Vice President of the Nigerian British Chamber of Commerce (NBCC), at the annual general meeting of the Chamber in Lagos yesterday, Okonkwo said that the significance of his appointment was for increased cooperation between the bank, the NBCC and in furtherance of commercial activities in the country.

He said for years, the bank had been cooperating with the Chamber and that made it necessary for his appointment.
“What this means is increased cooperation between the bank and the Nigerian British Chamber of Commerce as well as increased cooperation between our mutual customers as well as furtherance of commercial activities,” Okonkwo said.
He stated that the chamber would remain consistent in ensuring that the economy keeps growing.

“We’ll always have the economy moving. As you well know, the Nigerian economy is improving; the exchange rate is stabilising, inflation rate is dropping; business environment is improving as well.

“The moment liquidity in the foreign exchange space improved, we saw the results, even though we’re not yet there. So, it therefore means that members of this chamber would feel the positive impact,” he added.

Reiterating the bank’s support to SMEs Okonkwo said: “Fidelity is already well-known for supporting SMEs and for corporates. If you talk about agriculture we’re strong players there as well -participant in the Anchor Borrowers Scheme, and then, bilateral engagement with different agricultural companies.

“Yesterday, we held a lengthy meeting with a Rice Milling company we’re supporting to jointly draw up a business plan for the next one year. So either way you look at it Fidelity has been supportive of farmers, commerce, manufacturing, etc.”