Fidelity Bank Plc has announced the conclusion 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 the bank’s Company Secretary, Ezinwa Unuigboje, was sent to the Nigerian Exchange Limited on Friday. It stated that Chike-Obi, a Non-Executive Director, stepped down on December 31, 2025, after overseeing significant growth across key financial metrics.
“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 Board and Management seize this opportunity to express sincere appreciation to Mr Mustafa Chike-Obi for his outstanding contributions to the growth and development of the Bank during his tenure on the Board,” the notice read.
In accordance 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. Fidelity Bank confirmed that the Central Bank of Nigeria has been formally notified of her appointment.
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Mrs Onwughalu joined the bank’s board in December 2020 and has held key leadership positions, including Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation. She brings over three decades of banking experience, having previously served as Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc.
“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.
Currently 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 completed executive programmes at top global institutions, including INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford, and Harvard Kennedy School.
Fidelity Bank expressed confidence that her leadership would continue to guide the Board in executing its strategic objectives while upholding the bank’s high standards of corporate governance.