Get Guardian on GoogleThe Chairman of Air Peace Limited, Dr Allen Onyema, has commended Fidelity Bank Plc for the repayment of the $400 million Eurobond at maturity.
Onyema said that the feat indicated financial resilience, institutional discipline and effective leadership.
Onyema said the bank’s ability to meet its debt obligation at the end of the five-year tenure, using funds generated entirely from its internal liquidity, showcased its financial strength and sound management practices.
In a congratulatory message issued yesterday on behalf of Air Peace’s board, management and staff of the airline, Onyema attributed the achievement largely to the strategic leadership of Fidelity Bank’s Managing Director, Dr Nneka Onyeali-Ikpe.
According to him, Onyeali-Ikpe had continued to strengthen the bank’s financial standing and reputation within Nigeria’s banking industry through strategic decisions and prudent financial management.
Onyema also applauded Fidelity Bank for completing its recapitalisation exercise ahead of the Central Bank of Nigeria’s (CBN) stipulated deadline, describing the development, alongside the Eurobond repayment, as evidence of sound corporate governance and sustainable financial management.
He noted that the bank’s achievement was particularly huge given the importance of strong financial institutions to the growth and sustainability of critical sectors of the Nigerian economy.
According to him, the banking and aviation industries shared a strategic relationship, saying that aviation required substantial capital investment to support fleet expansion, operational sustainability, infrastructure development and long-term growth.
He stressed that financially resilient banks such as Fidelity Bank play a critical role in providing the financial support required by indigenous businesses to compete effectively and contribute to national economic development.
Onyema further observed that stronger partnerships between financial institutions and indigenous enterprises remained essential to improving Nigeria’s economic competitiveness and advancing its development aspirations.
