Mustafa Chike-Obi is the current Chairman of Fidelity Bank Nigeria. He was the inaugural Managing Director and Chief Executive Officer of Asset Management Corporation of Nigeria ("AMCON") from 2010 to 2015. AMCON was established under the Asset Management Corporation of Nigeria Act no. 4, 2010, on the 19th day of July 2010, to efficiently resolve the non-performing loan assets of banks in Nigeria. During his 5-year tenure as MD/CEO of AMCON, Mustafa Chike-Obi performed creditably and won many accolades and admiration from stakeholders in Nigeria's banking and financial services industry. He is currently the Executive Vice chairman of Alpha African Advisory Limited[citation needed].[1]
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Education
editChike-Obi earned a First Class Bachelor's degree in Mathematics from University of Lagos and an MBA from Stanford University Graduate School of Business.[2]
Career
editMustafa Chike-Obi started his Nigerian Banking career with Chase Merchant Bank from 1980 – 1982 as Head of Treasury Department[citation needed]. It is noteworthy that Mustafa Chike-Obi created the Treasure Department concept in Nigerian banking and headed the first such department in Nigeria – Treasury Departments are now a critical part of Nigeria’s banking industry. Mustafa Chike-Obi later moved to Goldman Sachs where he worked as Co-Head of Trading, Mortgage-Backed Securities.[3] Furthermore, he founded Madison Park Advisors, a financial service advisory and consulting firm specializing in hedge fund and private equity investment - located in New Jersey, U.S.A.[3] He was also Managing Director of Shoreline Group from 2001 – 2006. Mustafa Chike-Obi worked with Bear Stearns & Co as Co-Head of Emerging Markets Trading from 1992 – 1995.
Mustafa Chike-Obi is the Executive Vice Chairman at Alpha African Advisory. He has over 41 years of experience in investment banking and the financial services sector, working with reputable global investment banking and asset management firms. He provides overall leadership at Alpha African Advisory and has direct oversight of the capital raising division. Before joining Alpha African Advisory, he was the inaugural Chief Executive Officer of Asset Management Corporation of Nigeria (AMCON), a Federal government-backed institution, established to resolve the problem of non-performing loan assets of Nigerian banks after the 2008 global financial crisis.[4]
He started his Nigerian Banking career with Chase Merchant Bank from 1980 – 1982 as Head of the Treasury Department and was Founding President at Madison Advisors, a financial services advisory and consulting firm in New Jersey, specializing in hedge funds and private equity investment advice. [5]
He also served as Managing Director, Fixed Income at Shoreline Group and held senior positions at Goldman Sachs, Bear Stearns, and Guggenheim Partners in the United States amongst others, where he acquired a broad knowledge base in capital market operations in mature and emerging markets, including the development, and marketing of fixed income securities products to institutional investors. [6] His vast experience includes serving as Chairman of the Public Securities Association Trading Practice Committee of the National Association of Securities Dealers, overseeing mortgage-backed securities. [7] In August 2020, he was appointed as Special Envoy of Nigeria to the United States of America on a special mission on behalf of the Federal Government of Nigeria and currently serves as President of the Bank Directors Association of Nigeria (BDAN) and Chairman of Anambra State Investment Promotion and Protection Agency (ANSIPPA). [8]
Mustafa Chike-Obi assumed his role on the Board of Fidelity Bank Plc in August 2020, heralding a period of notable resilience and stability for the institution. His tenure has been marked by a concerted effort to address a fundamental challenge faced by African entrepreneurs: the lack of capital.[9] Through innovative initiatives, Fidelity Bank has emerged as a beacon of support for SMEs in Nigeria, offering accessible loan services that have enabled numerous businesses to thrive. Under his leadership, Fidelity Bank has taken bold steps to provide equity for emerging businesses across Africa, particularly focusing on startups. The bank's commitment to nurturing entrepreneurship has seen the emergence of numerous leaders, thanks to its provision of loans with favourable terms.
The company's impressive financial performance for the year ending December 31, 2023, further reinforces its position as a leading financial institution.[10] With net interest income reaching NGN 277,753 million compared to NGN 152,695 million the previous year, and net income totalling NGN 101,296 million compared to NGN 46,724 million a year ago, Fidelity Bank continues to demonstrate its strength and resilience in the face of evolving market dynamics [11]
References
edit- ^ Awojulugbe, Oluseyi (5 July 2020). "Mustafa Chike-Obi appointed Fidelity Bank chairman". TheCable. The Cable. The Cable. Retrieved 7 July 2020.
- ^ Admin. "How Mustapha Chime Obi has led Fidelity Bank". thescript.com.
- ^ a b "Mustafa Chike-Obi". Retrieved 5 July 2018.
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
- ^ https://thescript.com.ng/how-mustapha-chike-obi-has-led-fidelity-banks-successful-business-since-2020/
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
- ^ https://thewitnessng.com/mustafa-chike-obi-the-man-with-the-midas-touch/
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