Fidelity Bank Plc has announced a change in its board leadership following the completion of the tenure of its Chairman, Mr. Mustafa Chike-Obi. Mrs. Amaka Onwughalu has been appointed as the new Board Chairman, effective January 1, 2026.
The bank disclosed this development in a notice signed by its Company Secretary, Ezinwa Unuigboje, addressed to the Nigerian Exchange Limited and the investing public.
Mr. Chike-Obi, a Non-Executive Director and outgoing Board Chairman, stepped down on December 31, 2025, upon completing his approved tenure in line with the bank’s governance policy.
The notice further stated that Mr. Chike-Obi’s retirement was duly approved and carried out in full compliance with the Bank’s internal policies.
During his tenure, Fidelity Bank achieved notable growth across key financial metrics and successfully executed strategic initiatives, reaching major milestones in line with its long-term vision.
“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,” the statement said.
To ensure continuity and a smooth transition, the Board approved the appointment of Mrs. Amaka Onwughalu, a current Non-Executive Director, as Chairman of the Board, effective January 1, 2026.
The bank also confirmed that the Central Bank of Nigeria has been formally notified of the appointment.
According to the Board, the decision underscores the Bank’s strong succession planning framework and commitment to high corporate governance standards.
Extensive board and committee experience
Mrs. Onwughalu joined the Fidelity Bank Board on December 17, 2020.
She has previously served as Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation.
In addition, she has been a member of several key committees, including the Board Finance and General-Purpose Committee, the Board Remuneration, Nomination and Governance Committee, and the Board Risk Management Committee, which she formerly chaired.
“The Board is confident that Mrs. Amaka Onwughalu will lead the Board in the continued successful execution of its strategy,” the statement added.
Mrs. Onwughalu brings over 30 years of banking experience, including more than a decade in executive management roles spanning commercial and retail banking, treasury management, banking operations, and corporate banking.
Mrs. Onwughalu brings over 30 years of banking experience, including more than a decade in executive management roles spanning commercial and retail banking, treasury management, banking operations, and corporate banking.
She previously served as Group Managing Director of the legacy Mainstreet Bank Limited, where she oversaw its successful integration with Skye Bank Plc and subsequently held the role of Deputy Managing Director until her retirement in July 2016.
She currently serves as the Chief Executive Officer of Blueshield Financial Services Limited.
Mrs. Onwughalu holds a Bachelor of Science degree in Economics from the University of Buckingham, a Master of Science in Corporate Governance from Leeds Metropolitan University, and an MBA from the University of Port Harcourt.
She has also participated in executive and leadership programmes at leading global institutions, including INSEAD (France), IMD (Switzerland), the University of Cambridge, Columbia Business School, Stanford Graduate School of Business, Harvard Kennedy School, and the Institute of Directors, Nigeria.
She is a Senior Fellow of the Institute of Internal Auditors of Nigeria and a Fellow of several professional bodies, including the Chartered Institute of Bankers of Nigeria, the Institute of Chartered Accountants, and the Institute of Directors, as well as a member of the Nigerian Institute of Management .
