By Itohan Abara-Laserian

The board of Access Bank Plc on Wednesday announced complete acquisition of Cavmont Bank Ltd by its Zambian subsidiary, Access Bank (Zambia) Ltd.

Mr Sunday Ekwochi, the bank’s Company Secretary, disclosed this in a statement made available to the News Agency of Nigeria (NAN) in Lagos.

Ekwochi said the acquisition was completed after the bank fulfilled the key conditions, including regulatory approvals.

“The merger of Cavmont into Access Bank Zambia is expected to take place before the end of January.

“Following which Access Bank Zambia will emerge as a stronger well-capitalised banking franchise with improved scale and capacity to deliver sustainable and best-in-class financial services in the Zambian market,” he said.

According to him, the bank looks forward to realising the synergies from the transaction and achieving further growth of the combined platform to the benefit of all stakeholders.

“Growing our presence in Zambia remains a strategic priority for Access Bank and with the conclusion of the proposed merger with Cavmont, the bank looks forward to realising the synergies from the transaction,” he added. (NAN)

By Lydia Ngwakwe

The First City Monument Bank (FCMB) has named Mrs Yemisi Edun as the Acting Managing Director of the bank in the interim, while Mr Adam Nuru is on leave.

This was  contained in a statement signed by the FCMB management and obtained by the News Agency of Nigeria (NAN) via the bank’s Twitter handle.

“In line with normal corporate practice,  Edun is Acting as the Managing Director of FCMB in the interim period, while Mr Adam Nuru is on leave.

“She has not been appointed as the substantive Managing Director,” the statement said.

Recall that Nuru volunteered to go on leave to enable the bank to investigate the paternity allegations against him.(NAN)

By Itohan Abara-Laserian

Mrs Nneka Onyeali-Ikpe, has formally assumed office as the 4th Managing Director and Chief Executive Officer and first female to occupy the position at Fidelity Bank Plc, effective on Jan. 1.

In an email sent to the News Agency of Nigeria (NAN) on Sunday, in Lagos, the bank disclosed that Onyeali-Ikpe took over from Mr Nnamdi Okonkwo, whose contract tenure ended on Dec. 31, 2020, in line with the bank’s governance policy.

The email assured the bank’s customers that: “under Mrs Onyeali-Ikpe’s leadership, the bank will consolidate on the already laid foundation and track record of performance, to execute the next growth phase.”

“Onyeali-Ikpe was formerly the Executive Director, Lagos and South West Directorate of the bank, and has been an integral part of management in the last six years.

“She joined the bank in 2015 and spearheaded the transformation of the Directorate, leading it to profitability and sustained its impressive year-on-year growth across key performance metrics, including contributing over 28 per cent of the Bank’s profit before tax, Deposits and Loans.

“She is vastly experienced and has spent over 30 years working across various banks, including Standard Chartered Bank Plc, Zenith Bank Plc and Citizens International Bank/Enterprise Bank, where she held several management positions in Legal, Treasury, Investment Banking, Retail/Commercial Banking and Corporate Banking.

“As an Executive Director at legacy Enterprise Bank Plc, she received formal commendation from the Asset Management Corporation of Nigeria (AMCON), as a member of the management team that successfully turned around Enterprise Bank Plc.

“She holds a Bachelor of Laws (LLB) degree from the University of Nigeria, Nsukka; a Master of Laws (LLM) degree from Kings College, London; and has attended executive training programmes at notable global institutions, including Harvard Business School; The Wharton School, University of Pennsylvania; INSEAD School of Business; Chicago Booth School of Business; London Business School and IMD,” the email said, in a citation. (NAN)