Muhammed Balarabe, the Deputy Managing Director (DMD) of Fidelity Bank Plc will be retiring from the board of the bank effective 31 December 2019. His retirement is predicated on his attainment of retirement age.
The notice of retirement of Mr. Balarabe was contained in a letter sent to the Nigerian Stock Exchange (NSE) today by Fidelity Bank Plc. The letter was signed by the bank’s company secretary Ezinwa Unigboje.
According to the letter, The board of directors of the bank has approved his retirement and the Central Bank of Nigeria (CBN) has been formally notified of his exit.
Muhammed Balarabe who in his capacity as the DMD was also incharge of Commercial and Consumer Banking North, with responsibility covering the management of Fidelity Bank branches in Northern Nigeria and the Federal Capital Territory, Abuja.
He was appointed to the board of Fidelity Bank in April 2012 and DMD in May 2016. He was also on the board of the defunct Oceanic Bank. He attended Nottingham Trent University and University of Lagos, he was a member of Chartered Institute of Stockbrokers and the Nigerian Stock Exchange.
In keeping with the succession tradition of the Bank, Fidelity bank has appointed Hassan Imam as the new executive director, North Directorate. Imam’s appointment has been approved by the CBN.