Fidelity Bank Plc has confirmed the appointment of Amaka Onwughalu as Chairman of its Board of Directors, effective January 1, 2026 following the completion of Mustafa Chike-Obi’s tenure on December 31, 2025.
The board-level change forms part of the bank’s structured succession framework and has been formally communicated to key regulators and market institutions, including the Central Bank of Nigeria and the Nigerian Exchange Group.
The transition ensures continuity in governance and compliance with regulatory requirements governing leadership tenures in the banking sector.
Chike-Obi exits the role after a tenure marked by notable capital and balance-sheet milestones. During the period, the bank strengthened its capital base, concluded a successful Eurobond repayment, executed an oversubscribed public offer and rights issue, expanded its international footprint with a presence in the United Kingdom, and recorded steady growth across customer deposits and total assets.
The tenure also coincided with improvements in governance standards, risk management practices, and operational efficiency, supporting sustained market confidence.
Onwughalu’s elevation reflects board continuity and institutional familiarity. She joined the board in December 2020 and has held leadership responsibilities across key committees.
With more than three decades of experience in the banking industry, including executive roles at former tier-one institutions, her background spans corporate governance, risk oversight, and financial management.
She has completed executive education programmes at international institutions and holds professional fellowships across multiple industry bodies.
In comments following her appointment, Onwughalu said she looks forward to working with fellow directors and management to build on recent achievements and advance the bank’s strategic priorities, with a focus on sustainable growth and long-term value creation.
Fidelity Bank remains one of Nigeria’s leading commercial lenders, serving over nine million customers through its digital platforms, nationwide branch network, and its UK subsidiary.
The bank has continued to receive local and international recognition for innovation in digital banking, MSME financing, and investment banking services.
The board transition positions the lender for its next phase of execution as it navigates evolving regulatory, competitive, and macroeconomic conditions in 2026 and beyond.
