BusinessDay reported Nov. 1 that Air Peace Chairman and Chief Executive Officer Allen Onyema praised Fidelity Bank after its $400 million Eurobond repayment, saying financially resilient institutions are important to aviation and other sectors with substantial funding needs.
Onyema sent the congratulations on behalf of Air Peace’s board, management and staff, the report said. He commended Fidelity for meeting its obligations during the bond’s five-year term and for using resources within the bank to make the payment at maturity.
The message credited Fidelity Managing Director and Chief Executive Officer Nneka Onyeali-Ikpe with strengthening the bank’s financial position and reputation in Nigeria’s banking industry, according to BusinessDay. It also noted that Fidelity completed its recapitalization before the deadline set by the Central Bank of Nigeria (CBN).
Onyema named aviation as an industry that depends on substantial financing. He linked funding access with fleet development, continued airline operations and industry growth, BusinessDay reported. He also said partnerships between financial institutions and Nigerian businesses support the country’s economic competitiveness and development.
Onyema congratulated Onyeali-Ikpe and Fidelity’s board, management and staff, expressing confidence in the lender’s ability to reach further milestones, the outlet said.
