Fidelity Bank Plc has appointed Amaka Onwughalu as the new chairman of its board, following the completion of Mustafa Chike-Obi’s tenure.
In a notice to Nigerian Exchange Limited signed by the company secretary, Ezinwa Unuigboje, the bank said Mr Chike-Obi stepped down on December 31, 2025, after completing his approved tenure in line with its governance policy.
Mrs Onwughalu’s appointment takes effect from January 1, 2026.
The bank said the leadership change has been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group and other stakeholders.
Chike-Obi served as a non-executive director and chairman of the board.
During his tenure, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue and expanded its operations to the United Kingdom.
The bank also recorded growth in customer deposits and total assets, strengthened its capital position and expanded its digital banking operations.
Reflecting on his time as chairman, Chike-Obi said it was a privilege to serve the bank and expressed confidence in its future performance.
To ensure continuity, the board approved the appointment of Onwughalu, an existing non-executive director.
The bank confirmed that the Central Bank of Nigeria has been formally notified of the appointment.
Amaka Onwughalu joined the Fidelity Bank board in December 2020.
She has chaired the board credit committee and the board committee on bank capitalisation and has served on the finance and general purpose committee, remuneration, nomination and governance committee and the risk management committee.
She has over 30 years of banking experience and previously served as group managing director of Mainstreet Bank Limited, where she oversaw its integration with Skye Bank Plc.
She later served as deputy managing director until her retirement in 2016.
She is currently the chief executive officer of Blueshield Financial Services Limited.
Onwughalu holds a first degree in economics from the University of Buckingham, a master’s degree in corporate governance from Leeds Metropolitan University and an MBA from the University of Port Harcourt.
She has attended executive programmes at several institutions in Europe and the United States.
Commenting on her appointment, Onwughalu said she was honoured to lead the board and would work with other directors to execute the bank’s strategy and deliver value to stakeholders.
Fidelity Bank Plc is a commercial deposit money bank with over 9.1 million customers, operating through digital platforms, 255 business offices in Nigeria and its United Kingdom subsidiary, FidBank UK Limited.
