Fidelity Bank Plc has announced the completion of the tenure of its Board Chairman, Mr. Mustafa Chike-Obi, and the appointment of a new chairman, Mrs. Amaka Onwughalu. The change in leadership was disclosed in a notice sent to the Nigerian Exchange Limited on Friday, signed by Company Secretary, Ezinwa Unuigboje.
According to the notice, Chike-Obi stepped down on December 31, 2025, after leading the bank through significant growth across key financial metrics during his tenure. The bank praised his contributions to strategic achievements and long-term development, noting that under his chairmanship, it recorded substantial growth in key financial indices. The Board and Management expressed appreciation for his outstanding contributions to the bank’s growth and development.
In line with the bank’s Board Succession Planning Policy, Mrs. Onwughalu, an existing Non-Executive Director, assumed the role of Board Chairman effective January 1, 2026. The Central Bank of Nigeria has been formally notified of her appointment. Onwughalu joined Fidelity Bank’s Board in December 2020 and has held various leadership roles, including Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation.
With over 30 years of banking experience, including executive management positions in several financial institutions, Onwughalu is well-equipped to lead the bank. She previously served as Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc. The Board is confident that she will lead the successful execution of its strategy, given her experience and expertise.
Onwughalu holds a BSc in Economics from the University of Buckingham, an MSc in Corporate Governance from Leeds Metropolitan University, and an MBA from the University of Port Harcourt. She has also attended executive programs at world-class institutions, including INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford, and Harvard Kennedy School.
The bank expressed confidence that Onwughalu would continue to lead the Board in successfully executing its strategic objectives, noting that her appointment reflects Fidelity Bank’s high governance standards. The change in leadership is expected to ensure the bank’s continued growth and development, with Onwughalu at the helm. The appointment is a testament to the bank’s commitment to effective succession planning and governance.