Fidelity Bank Plc has appointed Amaka Onwughalu as its new board chairman, effective January 1, 2026, following the completion of Mustafa Chike-Obi’s tenure on December 31, 2025.
The bank disclosed this in a statement on Thursday, noting that the board transition is in line with its governance policy and has been formally communicated to the Central Bank of Nigeria (CBN), the Nigerian Exchange Group (NGX), and other relevant stakeholders.
According to the statement, Chike-Obi’s tenure recorded several key milestones, including the successful repayment of the bank’s Eurobond, completion of public offer and rights issue exercises that were oversubscribed, expansion into the United Kingdom, and improved credit ratings from rating agencies.
The bank added that under his leadership, Fidelity Bank strengthened its capital position, recorded significant growth in customer deposits and total assets, enhanced its digital banking capabilities, and improved corporate governance—factors that boosted market confidence and supported sustained growth.
Commenting on his exit, Chike-Obi said it was a privilege to serve as chair of the bank, attributing the achievements recorded during his tenure to the commitment of the board, management, and staff. He expressed confidence in the bank’s continued ability to deliver value to stakeholders.
Fidelity Bank also noted that Onwughalu, who joined the board in December 2020 and has chaired key board committees, brings over 30 years of banking experience to the role. Her career includes executive positions at Mainstreet Bank Limited and Skye Bank Plc.
She holds academic qualifications in economics, corporate governance, and business administration, has participated in several global executive programmes, and is a fellow of multiple professional bodies. She has also received various awards in recognition of excellence in financial management.
Onwughalu said the bank’s recent achievements have laid a strong foundation for continued growth, adding that she looks forward to working with her colleagues to drive the bank’s strategy and deliver sustainable value.
In November 2025, Fidelity Bank reported a 46 per cent increase in gross earnings, rising to ₦748.7 billion in the first half of the year, compared with ₦512.9 billion recorded in the corresponding period of 2024.