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, effective January 1, 2026.
This 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, Chike-Obi, a Non-Executive Director, stepped down on December 31, 2025, having led the bank through a period of significant growth and strategic consolidation.
“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 the achievement of critical milestones in line with the Bank’s long-term vision,” the notice stated.
The Board and Management commended Chike-Obi for his outstanding contributions to the bank’s growth and development during his tenure.
In line with Fidelity Bank’s Board Succession Planning Policy, Mrs Onwughalu, an existing Non-Executive Director, was appointed Chairman of the Board.
The bank confirmed that the Central Bank of Nigeria, CBN, has been formally notified of her appointment.
Onwughalu joined the Fidelity Bank Board in December 2020 and has served in key leadership capacities, including as Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation.
She brings over three decades of banking experience, having held senior executive roles across the financial services sector.
She previously served as Group Managing Director of Mainstreet Bank Limited and as Deputy Managing Director at Skye Bank Plc.
She is currently the Chief Executive Officer of Blueshield Financial Services Limited.
Academically, 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 programmes at leading global institutions, including INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford University, and Harvard Kennedy School.
Her professional affiliations include Senior Fellowship of the Institute of Internal Auditors of Nigeria, Fellowship of the Institute of Credit Administration, ICA, the Chartered Institute of Bankers of Nigeria, CIBN, and the Institute of Directors, IoD, as well as membership of the Nigeria Institute of Management, NIM.
Beyond banking, Mrs Onwughalu is a strong advocate for mentoring the girl child and empowering women entrepreneurs and professionals to drive economic development in Nigeria.
She is a Paul Harris Fellow and a recipient of several honours, including the National Merit Award for Accountability and Transparency, NMAT, the Award of Excellence and Distinction for Financial Management, AEDFM, and the Vocational Service Award, VSA, of the Rotary Club, Enugu.
While expressing confidence in the new appointment, the Board said Onwughalu’s emergence as Chairman underscores Fidelity Bank’s strong governance culture and positions the institution for the continued successful execution of its strategic objectives.
