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Fidelity Bank

Fidelity Bank Distributes Food Packs to FCT Communities

by Folarin Kehinde April 7, 2025

written by Folarin Kehinde

As part of its Corporate Social Responsibility (CSR) initiatives, leading financial institution, Fidelity Bank Plc, recently donated food packs to Federal Capital Territory (FCT) Abuja residents.

Themed, the Fidelity Food Bank initiative, the outreach saw the bank’s officials distribute the food items to seven communities in the Mabushi district of the FCT.

Speaking at the distribution event, the Executive Director, North, Fidelity Bank Plc, Mr. Sufiyanu Garba, emphasized the bank’s commitment to community development and its alignment with Sustainable Development Goal 2, which seeks to eradicate hunger.

“This initiative stems from our deep-seated responsibility to support underserved communities and contribute to the fight against hunger in Nigeria,” said Mr. Garba. “At Fidelity Bank, we firmly believe that by addressing the root causes of poverty and hunger, we can make a meaningful impact on the lives of those in need. While we may not be able to solve all societal challenges, our contributions are making a difference, as evidenced by the positive feedback we continue to receive.”

He further reiterated the bank’s commitment to empowering communities, stating, “We recognize the importance of fostering growth and prosperity within the communities where we operate. By investing in their well-being, we contribute to the creation of a more sustainable and equitable society.”

The Fidelity Food Bank is one of the key pillars of the bank’s CSR strategy, focusing on health and social welfare. As a nationwide project, the initiative seeks to provide food relief to underserved communities across Nigeria, with a particular focus on supporting women and children.

Expressing appreciation for the initiative, the District Head of Mabushi Community, Mr. Hassan Danagna, commended Fidelity Bank for its generosity and its impact on the community.

“Fidelity Bank’s support to our community is unprecedented, and we are deeply grateful for this initiative, which provides relief to vulnerable households and less privileged families,” said Mr. Danagna. “Given the current economic challenges, this support is timely, particularly as we approach the holy month of Ramadan.”

One of the beneficiaries, Mr. Mukhtar Mohamed, also expressed his gratitude to the bank, acknowledging the significant impact of food distribution.

Fidelity Bank Plc is a full-fledged commercial bank with over 9.1 million customers who are serviced across its 251 business offices and various digital banking channels in Nigeria and the United Kingdom.

The Bank is the recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.

Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.

April 7, 2025 0 comments

Business

GAIM 6 Promo: Fidelity Bank rewards NYSC member with N500,000 Entrepreneurship Grant

by Folarin Kehinde March 4, 2025

written by Folarin Kehinde

In affirmation to keeping their word, Fidelity Bank has awarded the sum of N500,000 entrepreneurship grant to Koromo Bomane-aziba, a serving FCT Corp member in the 6th edition of its Getz Alerts In Million, (GAIM) promo.

Abuja Branch Leader Fidelity Bank, Vincent Ijioma while speaking in Abuja on Tuesday at the presentation of the grant stated that the entrepreneurship grant aims at giving back to the society, especially to serving corp members as a start up capital to ease their business startup and make their dreams reality.

Ijioma explained that the grant will be given to corp members who won the promo on quarterly basis adding that more than 12 corp members are currently on the waiting list.

“What we are doing is also part of
the way of rewarding and giving back to the society and part of the things that we have done differently in this year promo is to incorporate the NYSC into it.

“The bank decided they were going to make available 500,000 what we call
entrepreneurship grants that we are giving to people, the lucky winners from the
draw. What we are doing here today is also happening in every other place across the nation with people that have won, they are making that presentation.

“Like I said, from the list that was sent to
us, we have more than 12 corp members currently, you know, that this transition is going on. And it’s not going to be a one-off thing, it’s going to happen every quarter.”. he added.

Expressing her delight after receiving the cash reward, Koromo Bomane-aziba stated that her dreams of starting her culinary business is now a reality, she however advised her fellow corp members to open account with fidelity bank and enjoy many benefits and opportunities that the bank presents.

“I am happy that I was chosen for this. I was really surprised because I didn’t expect it. This just came about and I really want to thank fidelity Bank for giving me this opportunity. And I would want to go into a business, which is what I love doing. I love cooking. While in camp, I joined the culinary class because that’s what I love doing. So with this money, I’m really going to start a big business. Something I can use to manage myself while I’m in
Abuja.

“I will advise fellow corp member that if something like this happens to them, they shouldn’t take it for granted and they should try as much as they can to own an account with Fidelity Bank. Because just as I was, I was surprised and I didn’t expect this. So once they are able to get an
account with Fidelity Bank, I believe they have more packages for other corp members so they will definitely be opportune like me.”. She added.

March 4, 2025 0 comments

Business

Mayor of Houston Texas endorses Fidelity Bank’s Trade Expo (FITCC)

by Folarin Kehinde September 20, 2023

written by Folarin Kehinde

Fidelity Bank’s upcoming trade expo tagged, the Fidelity International Trade and Creative Connect (FITCC Houston), has received a major boost as the Mayor, City of Houston, Sylvester Turner, has termed it, “A catalyst to support bilateral trade between Nigeria and Houston; and an opportunity for the Houston community and the diaspora to explore emerging trends, forge new partnerships and unlock new possibilities”.

This was made known in a video message recently issued by the mayor. In the one-minute clip obtained by our journalist, the Mayor Turner highlighted the several side attractions scheduled for FITCC Houston and encouraged businesses to take advantage of the expo to expand their businesses beyond borders.

The event is scheduled for Tuesday, 24 and Wednesday, 25th October 2023 at the George R. Brown Convention Center, 1001 Avenida de las Americas, Houston, Texas 77010.

The bank will be hosting exporters, leading businesses, entrepreneurs, investors and regulators operating in the commodity, service, creative, fashion and FinTech sectors in Nigeria and the United States with the view of promoting Nigeria’s non-oil exports and facilitating integrations to global supply-chain networks.

September 20, 2023 0 comments

Business

Fidelity Bank boss advocates measures to curb e-fraud challenges

by Folarin Kehinde August 21, 2023

written by Folarin Kehinde

Managing Director/Chief Executive Officer, Fidelity Bank Plc, Mrs. Nneka Onyeali-Ikpe has called on the Nigeria Electronic Fraud Forum, NeFF to come with solutions to the challenges posed by electronic fraud to financial system.

According to a report published in Vanguard Newspaper, she made this call in Lagos while speaking at the 3rd quarter general meeting of NeFF.

Nneka Onyeali-Ikpe explained that e-fraud are activities carried out online to exploit individuals and business entities for financial gain.
She liste

d examples of e-fraud to include: Phishing; Advanced fee fraud (419); Online Auction Fraud; Identity Theft; Tech Support Scams; Online Romance Scam; Investment Scam; Business Email compromise; Ransomware; Online Rental Schemes; Pyramid Schemes; and Click Fraud.

Highlighting the rising trend of e-fraud in the country and the associated challenges, the Fidelity Bank boss said: “According to data released by NIBSS, the value of electronic payment transactions in Nigeria increased by 298% YoY from N34.04 trillion in Q1 2022 to N135.52 trillion in Q1 2023.

“As technology continues to advance at an unprecedented pace, our reliance on digital transactions has grown exponentially. However, with this rise in digital interactions, the threat of e-fraud has become a significant challenge affecting individuals, businesses, and industries alike.

“The banking industry lost a total of N14.3 billion to electronic fraud in 2022, up from the N12.7b reported in 2021. As at Q1 2023, the total fraud loss was N5b according to the NIBSS Annual Fraud Landscape reports.

“The Mobile channel is the most exploited channel by fraudsters in 2021 and 2022 with 42,821 and 45,090 reported fraud records respectively. Total fraud count in 2021 was 123,918 and 101,668 in 2022.

“E-fraud has permeated multiple industries, spanning from banking and finance to e-commerce and beyond.

These cybercriminals leverage advanced methods to exploit vulnerabilities, gaining unauthorised access to crucial data and funds.

The repercussions of e-fraud are not limited to financial losses; they also extend to eroding trust and eroding brand reputation.

August 21, 2023 0 comments

Business

Fidelity Bank reclassified as medium price stock

by Leading Reporters July 22, 2023

written by Leading Reporters

Following a bullish run in the stock market in recent months, the Nigerian Exchange Limited (“NGX”) on Friday announced the reclassification of Fidelity Bank Plc. from small price stock to medium price stock.

A statement by the NGX said the reclassification became necessary because Fidelity Bank Plc. shares have been trading above the N5.00 mark since February 2023.

“Rule 15.29 of the Rulebook of The Exchange, 2015 (Dealing Members’ Rules) notes that equities priced above N5 per share for at least four of the most recent six months of trading, or new security listings priced above N5 per share at the time of listing on NGX are classified as medium price stock,” the statement said.

“According to NGX, Fidelity Bank Plc. traded above the N5.00 mark on 20 February 2023 and has remained above the N5 mark up until close of business on 30 June 2023.

“This indicates that FIDELITYBK has been trading above N5 for at least four (4) months in the last six (6) months. Therefore, it should be reclassified from small price stock to medium price stock.”

The Nneka Onyeali-Ikpe-led bank has continued to post commendable financial performance every quarter as it cements its position amongst tier-one banks in the country.

July 22, 2023 0 comments

Investigation

Revealed: How AEDC Spent Over N16b In a day On Admin. Expenses; Allegedly Evade Tax and Use Inflated Costs to Shortchange FG (Part 1)

by Leading Reporters March 30, 2021

written by Leading Reporters

Financial records unveiled by the League of Patriot, exclusively obtained by LeadingReporters, has alleged that AEDC uses different accounts, mainly domiciled with the United Bank of Africa, UBA and recently, Fidelity Bank to perpetrate these nefarious acts.

The accounts include AEDC Impress Funding Account with UBA. Account No. 22174094498. This account has become a conduit through which Billions of Naira are fleeced under the subheading – Operational imprest. For instance, between October and December, 2018, a total of N1,579,015,000 was mopped into the account as impress.

It was John Perkins, the author of “Confession of An Economic Hitman” who said that electricity, industrial parks, highways and ports are the things that made huge profits for companies that are sent to wreak havocs on the economies of target-nations.

Perkins’s confession in his widely-read book gives a clue to why Nigerians, the Federal Government and electricity consumers would remain at the mercy of companies like Abuja Electricity Distribution Company AEDC. Mr. Perkins went further to expose how they coopt local greedy economic jackals in government offices, the banking and other strategic sectors in any country of their interest to ensure that their appetite to ruin and hold the people in perpetual poverty are sealed.

AEDC activities, according to investigation carried out by group of concerned Nigerians under the umbrella of League of Patriots revealed that the company is structured to fleece Nigeria, exploit the people, defraud the system, evade tax and by extension divert all the proceeds of their loots to their agents both locally and internationally.

The group has promised to work with the anti-corruption agencies, especially the Economic and Financial Crime Commission under its new leadership that has expressed interest to institute a probe in the power sector.

Another Imprest Account as claimed by Leagues of Patriots is Account No. 1017666012, with United Bank of Africa, which is used for these alleged nefarious activities. Investigation carried out by the group revealed further that Account No. 1019034680 with UBA is used to sweep funds which are later diverted to yet another UBA account No 1017547366.

Furthermore, yet another account uncovered by the group is a UBA Account No.1017681365, allotted to AEDC WAMBA, Nasarawa State. A close investigation revealed that the said account is not linked to any TIN no, which makes it hard for Government to collect its tax from AEDC.

AEDC Okene Area Office with Account No 1021027984 with UBA is one of the many accounts of AEDC that were structured to evade tax as all proceeds from Okene axis were technically structured to evade tax.

Kabba AEDC Account No 1017805387 is another porous and specially structured account allegedly used in fleecing the Federal Government. Recall that the Federal Government of Nigeria has 40% stake in AEDC through its agency, Bureau of Public Enterprises. The agency, according to League of Patriots has become a willing partner in crime in short-changing the Government and the people of Nigeria.

All efforts to get AEDC to address the issue proved abortive as no replies were given to mails sent to them, for official response despite series of promises from the communication and accounts units of AEDC to do so

March 30, 2021 0 comments