Fidelity Bank Plc has announced the completion of the tenure of its Board Chairman, Mustafa Chike-Obi, and the appointment of Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026.
In a notice to Nigerian Exchange Limited (NGX) and the investing public, the bank disclosed that Mr. Chike-Obi, a Non-Executive Director and Chairman of the Board, stepped down on December 31, 2025, in line with the bank’s board tenure and succession policies.
Fidelity Bank said that under Mr. Chike-Obi’s leadership, the board oversaw notable growth across key financial metrics and ensured the execution of the bank’s long-term strategy, adding that both the board and management expressed appreciation for his contributions to the institution’s development.
To ensure continuity, the board approved the appointment of Mrs. Onwughalu, an existing Non-Executive Director, as Chairman. The bank confirmed that the Central Bank of Nigeria (CBN) has been formally notified of the appointment, in compliance with regulatory requirements.
Mrs. Onwughalu joined the board in December 2020 and has served on several key committees, including the Board Credit Committee and the Board Committee on Bank Capitalisation. She has also been a member of the Finance and General-Purpose Committee, the Remuneration, Nomination and Governance Committee, and the Risk Management Committee, which she previously chaired.
She brings more than three decades of banking experience, including over ten years in executive management roles across commercial, retail, treasury, and corporate banking. Her previous roles include Group Managing Director of legacy Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc, prior to her retirement in 2016. She is currently the Chief Executive Officer of Blueshield Financial Services Limited.
The bank described the transition as evidence of its board succession planning and governance framework, stating that it expects the new chairman to lead the board in the continued execution of Fidelity Bank’s strategic objectives.
