Big Pay Day for Fidelity Bank BossesFidelity Bank shareholders just voted to give their chairman a big raise! The chairman will now get N60 million per year, and other non-executive directors will get N40 million each.
The resolution read, “That non-executive directors’ compensation be and is, hereby, fixed at N40m for each non-executive director and N60m for the chairman for the fiscal year ending December 31, 2024, and succeeding years until reviewed by the Company in the Annual General Meeting.”
This decision was made at the bank’s annual general meeting.
The new pay rates will stay in place for at least a year, and then shareholders will vote on them again next year. Fidelity Bank also announced a dividend payout to shareholders, which is like a bonus for people who own shares in the bank. This year’s payout is 20% higher than last year’s.
Source: PUNCH