Fidelity Bank Plc announced that its Board Chairman, Mr. Mustafa Chike‑Obi, has completed his tenure, and that Mrs. Amaka Onwughalu will succeed him. The change was disclosed in a notice to the Nigerian Exchange Limited on Friday, signed by Company Secretary Ezinwa Unuigboje. Mr. Chike‑Obi stepped down on 31 December 2025 after guiding the bank through significant growth in key financial metrics. The bank praised his strategic achievements and long‑term development contributions, noting substantial improvements in its financial indices, and the Board and Management expressed appreciation for his outstanding service.
In accordance with the Bank’s Board Succession Planning Policy, Mrs. Onwughalu, an existing non‑executive director, assumed the role of Board Chairman effective 1 January 2026. The Central Bank of Nigeria has been formally notified of her appointment. Mrs. Onwughalu joined Fidelity Bank’s Board in December 2020 and has chaired the Board Credit Committee and the Board Committee on Bank Capitalisation. With more than 30 years of banking experience, including executive management roles at several financial institutions, she 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.
Mrs. 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 completed executive programs at INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford, and Harvard Kennedy School. The Board is confident that her experience and expertise will ensure the successful execution of the bank’s strategy. The appointment reflects Fidelity Bank’s high governance standards and its commitment to effective succession planning, positioning the bank for continued growth and development under her leadership.
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