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 development was disclosed 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, stepped down on December 31, 2025, after steering the bank through a period of notable growth across key financial indicators.
The bank commended his leadership, noting that under his chairmanship, Fidelity Bank achieved significant strategic milestones and strengthened its long-term growth trajectory. The Board and Management expressed appreciation for his contributions to the bank’s expansion and development during his tenure.
In line with the 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. Fidelity Bank confirmed that the Central Bank of Nigeria has been duly notified of her appointment.
Mrs Onwughalu joined the Board in December 2020 and has previously served as Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation, among other key roles. She brings over three decades of banking experience, having held senior executive positions across several financial institutions, including Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc.
Currently the Chief Executive Officer of Blueshield Financial Services Limited, 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 completed executive programmes at leading global institutions such as INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford, and Harvard Kennedy School.
The Board expressed confidence that Mrs Onwughalu’s appointment would ensure continuity in strategy execution and reaffirm Fidelity Bank’s commitment to strong corporate governance standards.