Fidelity Bank Plc has named Mrs. Amaka Onwughalu as the new Chairman of its Board of Directors, effective January 1, 2026. The appointment follows the completion of Mr. Mustafa Chike-Obi’s tenure on December 31, 2025.

The transition aligns with the bank’s governance policy and has been communicated to the Central Bank of Nigeria (CBN), Nigerian Exchange Group, and other stakeholders.

During Chike-Obi’s tenure, Fidelity Bank achieved several milestones, including:

• Repayment of its Eurobond.
• Completion of the first tranche of its oversubscribed public offer and rights issue.
• Strengthened capital position and steady growth in customer deposits and total assets.
• Expanded digital banking capabilities and enhanced corporate and investment banking services.
• Improved governance, risk management, and operational efficiency, boosting market confidence.

Reflecting on his tenure, Chike-Obi said:

“It was a privilege to serve as Chairman. The dedication of our Board, management, and staff enabled us to reach significant milestones. I am confident the Bank will continue to thrive and deliver value to all stakeholders.”

Onwughalu’s Profile

Mrs. Onwughalu joined Fidelity Bank’s Board in December 2020, having chaired key committees. She brings over 30 years of banking experience, including executive roles at Mainstreet Bank Ltd and Skye Bank Plc. She holds degrees in Economics, Corporate Governance, and Business Administration, and has completed executive programmes at global institutions.

Speaking on her appointment, Onwughalu said:

“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.”