Fidelity Bank Plc has announced the appointment of Mrs Amaka Onwughalu as the new Chairman of its Board of Directors, effective January 1, 2026, following the completion of Mr Mustafa Chike-Obi’s tenure on December 31, 2025.
Fidelity Bank
The seamless board transition aligns with the tier-one lender’s governance policy and has been duly notified to the Central Bank of Nigeria (CBN), the Nigerian Exchange Group (NGX), and other key stakeholders.
During Mr Chike-Obi’s stewardship, Fidelity Bank achieved remarkable milestones, including the full repayment of its Eurobond, successful execution of an oversubscribed public offer and rights issue by 237 per cent and 137.73 per cent respectively, and expansion into the United Kingdom market.
The bank also fortified its capital base, recorded robust growth in customer deposits and total assets, advanced its digital banking infrastructure, and elevated its corporate and investment banking offerings under his leadership.
Notable strides were made in governance, risk management, and operational efficiency, all of which bolstered market confidence and sustained the bank’s impressive performance trajectory.
Reflecting on his time at the helm, Mr Chike-Obi said: “It has been a privilege to serve as Chairman of Fidelity Bank. The dedication of our Board, management, and staff has enabled us to reach significant milestones. I am confident that the Bank will continue to thrive and deliver value to all stakeholders.”
Mrs Onwughalu, who joined the board in December 2020 and chaired several key committees, brings over 30 years of banking expertise, including executive positions at Mainstreet Bank Limited and Skye Bank Plc.
She holds degrees in Economics, Corporate Governance, and Business Administration, alongside executive training from leading global institutions, and is a Fellow of multiple professional bodies with accolades for accountability and financial management.
“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have set a strong foundation for continued growth. I look forward to working with my colleagues to drive our strategy and deliver sustainable value,” Mrs Onwughalu stated.
Recognised among Nigeria’s top-performing banks, Fidelity Bank serves over 9.1 million customers via digital platforms, 255 business offices across Nigeria, and its UK subsidiary, FidBank UK Limited.
The institution has garnered numerous awards, including the 2024 Excellence in Digital Transformation & MSME Banking by BusinessDay BAFI Awards, Most Innovative Mobile Banking Application for its Fidelity Mobile App by Global Business Outlook, and Most Innovative Investment Banking Service Provider by Global Brands Magazine.
It was also named Best Bank for SMEs in Nigeria by Euromoney Awards for Excellence and Export Financing Bank of the Year by BusinessDay BAFI Awards.
