Fidelity Bank Plc has announced the appointment of Mrs Amaka Onwughalu as the new Chairman of its Board of Directors, with effect from January 1, 2026.
The announcement was made in a statement issued on Friday by the bank’s media unit.
According to the statement, the appointment followed the completion of the tenure of the immediate past chairman, Mr Mustafa Chike-Obi, who exited the board on December 31, 2025.
The bank noted that the board transition aligns with its governance policy and has been duly communicated to the Central Bank of Nigeria (CBN), the Nigerian Exchange Group and other relevant stakeholders.
The statement highlighted several milestones achieved under Chike-Obi’s leadership, including the successful repayment of the bank’s Eurobond and the completion of the first tranche of its public offer and rights issue, both of which were oversubscribed.
During his tenure, Fidelity Bank also strengthened its capital base, recorded steady growth in customer deposits and total assets, deepened its digital banking capabilities and enhanced its corporate and investment banking offerings.
In addition, the bank made notable progress in governance, risk management and operational efficiency, developments which contributed to increased market confidence and sustained performance growth.
Reflecting on his time as Chairman, Chike-Obi described it as a privilege to have served the institution.
“The dedication of our board, management and staff enabled us to reach significant milestones. I am confident that the bank will continue to thrive and deliver value to all stakeholders,” he said.
On her part, Mrs Onwughalu said her appointment marks a new chapter for the bank. She joined the board in December 2020 and has since chaired several key board committees.
With over 30 years of banking experience, she has held executive positions at Mainstreet Bank Ltd and Skye Bank Plc.
Onwughalu holds academic qualifications in Economics, Corporate Governance and Business Administration, and has attended executive programmes at leading global institutions.
“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have laid a strong foundation for continued growth.
“I look forward to working with my colleagues to drive the bank’s strategy and deliver sustainable value to all stakeholders,” she said.
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