First Bank

Tuesday, July 7, 2020

Details: Former Vice President, Atiku’s Man Friday, Mustapha Chike Obi Becomes Fidelity Bank Chairman

Alhaji Atiku may go down in history as Nigeria’s most vilified politician. From being gas-lighted and accused of monumental corruption by his former boss, President Olusegun Obasanjo, to spreading tales about his alleged hunt by the American government, among other politically devastating tales, he is the perfect personification of the ‘Never Say Die’ spirit.

Instructively, the Waziri – his traditional title – knows  he hasn’t come this far on his own strength or skills; he has had the good fortunes of having dependable and savvy lieutenants around him, otherwise illustrious people who swear by his name and would hug the sky if it would make him happy.

Yes, Atiku has some of Nigeria’s best brains in his corner and they cut across varying pedigree and profession, sex and tribe. Mustafa Chike-Obi is one of them. Chike-Obi believes so much in Atiku and has been a die-hard supporter and confidant.

He has over 25 years of investment banking experience working with reputable global investment banking and asset management firms. He provides overall leadership at Alpha African Advisory and has direct oversight over the capital raising division. Prior to joining Alpha African Advisory, he was the inaugural CEO of the Asset Management Corporation of Nigeria (AMCON), a government-backed institution established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis.

Since his removal as Managing Director (MD), Asset Management Company of Nigeria (AMCON), Chike-Obi has been in his anonymous cocoon. Back when he was in office, Chike-Obi reigned supreme, like a Chinese emperor. Men and women worshiped him, and he exploited his office to advantage.

However, this is a good news, Fidelity Bank Plc yesterday announced that appointment of the former pioneer Managing Director/Chief Executive Officer, Chike-Obi as the new chairman of its Board of Directors. Fidelity in a statement, said, Mr. Chike-Obi, who is currently the Executive Vice-Chairman at Alpha African Advisory, replaces Mr. Ernest Ebi who is stepping down, in accordance with the Bank’s internal governance policy, after successfully completing his tenure.

The board is also pleased to announce that the retiring chairman will be succeeded by Mr. Mustafa Chike-Obi who is currently the Executive Vice-Chairman at Alpha African Advisory,” the statement noted.

To ensure a smooth and hitch-free transition, Ebi is expected to continue in the role until the new chairman assumes office. “Ebi will, however, continue in the role until the in-coming chairman assumes office, as part of the process of ensuring a smooth and successful transition. The changes being announced further attest to Fidelity Bank’s high governance standards and best practices in compliance with internal succession policies,” the statement added.

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