Fidelity Bank Names New Board Chairman As Chike-Obi Exits

Fidelity Bank Plc has announced the completion of the tenure of its Board Chairman, Mr Mustafa Chike-Obi, and the appointment of a new chairman, Mrs Amaka Onwughalu.

This was contained in a notice signed by Company Secretary, Ezinwa Unuigboje, sent to the Nigerian Exchange Limited on Friday and published by the Punch Newspaper.

According to the notice, Chike-Obi, a Non-Executive Director, stepped down on December 31, 2025, after leading the bank through significant growth across key financial metrics.

The bank praised his contributions to strategic achievements and long-term development during his tenure.

“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 line 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.

Mrs Onwughalu joined Fidelity Bank’s Board in December 2020 and previously served as Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation, among other leadership roles.

She brings over 30 years of banking experience, including executive management positions in several financial institutions.

She was formerly 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 attended executive programme at world Bank -class institutions, including INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford, and Harvard Kennedy school.

The bank expressed confidence that Onwughalu would continue to lead the Board in successfully executing its strategic objectives, noting that her appointment reflects Fidelity Bank’s high governance standards.