Fidelity Bank Plc, a leading Nigerian lender, has announced the completion of Mr. Mustafa Chike-Obi’s tenure as Chairman of its Board of Directors, effective December 31, 2025. Concurrently, the bank has appointed Mrs. Amaka Onwughalu as the new Chairman, effective January 1, 2026. These board transitions align with the bank’s policy and have been communicated to the relevant regulatory bodies, including the Central Bank of Nigeria and the Nigerian Exchange Group.
During Mr. Chike-Obi’s leadership, Fidelity Bank achieved significant milestones, including the repayment of its Eurobond, successful completion of its public offer and rights issue, and expansion into the United Kingdom. The bank also received improved ratings from various agencies, strengthened its capital position, and recorded steady growth in customer deposits and total assets. Additionally, the bank enhanced its digital banking capabilities and corporate and investment banking proposition, resulting in strengthened market confidence and sustained upward performance trajectory.
Mrs. Amaka Onwughalu, the newly appointed Chairman, brings over 30 years of banking experience, having held executive roles at Mainstreet Bank Limited and Skye Bank Plc. She has also chaired key committees since joining the Fidelity Bank Board in December 2020. With her expertise in economics, corporate governance, and business administration, Mrs. Onwughalu is well-equipped to lead the bank’s strategy and drive sustainable value.
Fidelity Bank Plc is a full-fledged commercial deposit money bank serving over 9.1 million customers through digital banking channels and its 255 business offices in Nigeria and the United Kingdom. The bank has received numerous local and international awards, recognizing its excellence in digital transformation, MSME banking, and investment banking services.
As Fidelity Bank embarks on a new chapter under Mrs. Onwughalu’s leadership, the bank is poised to build on its recent achievements and continue delivering value to its stakeholders. With its strong foundation and commitment to innovation and customer satisfaction, Fidelity Bank is expected to maintain its position as one of the leading banks in Nigeria. The bank’s focus on digital banking, corporate and investment banking, and export financing is likely to drive its growth and expansion in the coming years.