Fidelity Bank Plc has announced the end of the tenure of its Board Chairman, Mr. Mustafa Chike-Obi, and the appointment of Mrs. Amaka Onwughalu as his successor.
The notice, signed by Company Secretary Ezinwa Unuigboje and sent to the Nigerian Exchange Limited on Friday, stated that Chike-Obi, a Non-Executive Director, stepped down on December 31, 2025, after leading the bank through significant growth across key financial metrics. The bank commended his contributions to strategic achievements and long-term development during his tenure.
Under his leadership, Fidelity Bank recorded notable growth in core financial indices, with Chike-Obi overseeing the successful execution of the bank’s strategy and attainment of key milestones in line with its long-term vision.
In line with the bank’s Board Succession Planning Policy, Mrs. Onwughalu, an existing Non-Executive Director, assumed the role of Board Chairman effective January 1, 2026. The Central Bank of Nigeria has been formally notified of her appointment.
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Mrs. Onwughalu joined Fidelity Bank’s Board in December 2020 and has previously chaired the Board Credit Committee and the Board Committee on Bank Capitalisation. She brings over 30 years of banking experience, having held executive management roles at several financial institutions, including serving as Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc.
Currently the CEO of Blueshield Financial Services Limited, 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 attended executive programmes at leading global institutions, including INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford, and Harvard Kennedy School.
The bank expressed confidence that Mrs. Onwughalu will continue to lead the Board in executing its strategic objectives, emphasizing that her appointment reflects Fidelity Bank’s commitment to high governance standards.