By InvestAdvocate

Lagos (INVESTADVOCATE)-Nigeria’s lender, Fidelity Bank Plc said on Tuesday three (3) of its directors are set to retire, the bank said in a issuer’s announcement with the Nigerian Stock Exchange (NSE).

The names of the retiring directors according to the lender are Onome Olaolu, executive director (ED), Risk, John Obi, ED, Corporate and
IK Mbagwu, ED, Lagos and South West.

Fidelity Bank says Olaolu and Obi will retire on 30 June 2015, while Mbagwu has indicated his intention to proceed on early retirement with effect from 31 July 2015.

“The retirements are in accordance with the bank’s human capital policy and predicated on attainment of retirement age by the said executive directors. The retirements have been approved by the board of directors,” the bank affirmed.

The lender had earlier appointed a new chief risk officer (CRO) to understudy the out-going ED, Risk and it has concluded the appointment process on successors to the other executive positions.