Fidelity Bank Plc has announced the completion of the tenure of its Board Chairman, Mr Mustafa Chike-Obi, and the appointment of Mrs Amaka Onwughalu as his successor.
The announcement was contained in a notice signed by the Company Secretary, Ezinwa Unuigboje, and submitted to the Nigerian Exchange Limited on Friday.
According to the notice, Mr Chike-Obi, a Non-Executive Director, officially stepped down from the Board on December 31, 2025, after a period marked by notable growth and strategic progress for the bank.
During his tenure, Fidelity Bank recorded significant improvements across key financial indices, with the Board successfully executing major milestones aligned with the institution’s long-term vision.
“Under his chairmanship, the Bank recorded significant growth across key financial indices, with Mr Chike-Obi leading the Board to ensure the successful execution of the Bank’s strategy and achievement of key milestones in line with the long-term vision of the Bank,” the notice stated.
The Board and Management also expressed appreciation for his contributions, describing his leadership as instrumental to the bank’s development and governance strength.
In line with Fidelity Bank’s Board Succession Planning Policy, Mrs Onwughalu, an existing Non-Executive Director, assumed the role of Board Chairman with effect from January 1, 2026. The bank confirmed that the Central Bank of Nigeria has been formally
Mrs Onwughalu joined the Board of Fidelity Bank in December 2020 and has served in several leadership capacities, including Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation.
She brings over three decades of banking experience, having held senior executive management roles across multiple financial institutions. She previously served as Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc. She is currently the Chief Executive Officer of Blueshield Financial Services Limited.
Academically, Mrs 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 such as INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford University and the Harvard Kennedy School.
The Board expressed confidence in her leadership, noting that her appointment reflects Fidelity Bank’s strong governance culture and commitment to continuity.
“The Board is confident that Mrs Amaka Onwughalu will lead the Board in the continued successful execution of its strategy. The Board is also pleased with the succession arrangements for the role of Board Chairman, which attests to the Bank’s high governance standards,” the notice added.
