Fidelity Bank Plc has announced the completion of Mr. Mustafa Chike-Obi’s tenure as Chairman of its Board of Directors, effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman, effective January 1, 2026.
The board transition aligns with the Bank’s governance policy and has been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.
During his tenure, Mr. Chike-Obi oversaw significant milestones for the bank, including the repayment of its Eurobond, completion of a highly successful public offer and rights issue, international expansion to the United Kingdom, and improved ratings from various agencies.
His leadership strengthened the bank’s capital position, grew customer deposits and total assets, enhanced digital banking capabilities, and advanced corporate and investment banking offerings. Operational efficiency, governance, and risk management also improved under his watch, contributing to sustained market confidence.
Reflecting on his tenure, 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. Amaka Onwughalu, who joined the Board in December 2020 and has chaired key committees, brings over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc. She holds degrees in Economics, Corporate Governance, and Business Administration and has completed executive programmes at global institutions.
She is a Fellow of several professional bodies and has been recognized for accountability and financial management.
Commenting on her appointment, Mrs. 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.”