Fidelity Bank Plc has announced the completion of the tenure of Mustafa Chike-Obi as Chairman of its Board of Directors, effective December 31, 2025, and the appointment of Amaka Onwughalu as the new Chairman, with effect from January 1, 2026.
The bank said the board changes are in line with its corporate governance policies and have been duly communicated to the Central Bank of Nigeria (CBN), the Nigerian Exchange Group (NGX), and other relevant stakeholders.
During Chike-Obi’s tenure, Fidelity Bank recorded significant milestones, including the repayment of its Eurobond and the successful completion of the first tranche of its public offer and rights issue, which were oversubscribed by 237 per cent and 137.73 per cent, respectively.
The period also marked the bank’s international expansion into the United Kingdom and improved ratings from several rating agencies.
Under his leadership, the bank strengthened its capital base, achieved steady growth in customer deposits and total assets, expanded its digital banking capabilities, and enhanced its corporate and investment banking offerings.
Fidelity Bank also made notable progress in governance, risk management, and operational efficiency, contributing to improved market confidence and sustained performance.
Commenting on his exit, Chike-Obi described his tenure as a privilege, noting that the collective efforts of the board, management, and staff enabled the bank to achieve key milestones. He expressed confidence in the bank’s continued growth and value creation.
Onwughalu, who joined the Fidelity Bank board in December 2020, has chaired several key board committees. She brings over 30 years of banking experience to her new role, having previously held executive positions at Mainstreet Bank Limited and Skye Bank Plc.
Her academic background includes qualifications in Economics, Corporate Governance, and Business Administration, alongside executive education from international institutions. She is a Fellow of multiple professional bodies and a recipient of awards for accountability and financial management.
Speaking on her appointment, Onwughalu said she was honoured to assume the role at a pivotal time for the bank, adding that recent achievements have laid a strong foundation for sustained growth and long-term value creation.
Fidelity Bank Plc is ranked among Nigeria’s leading commercial banks, serving over 9.1 million customers through its digital platforms, 255 business offices across Nigeria, and its United Kingdom subsidiary, FidBank UK Limited.
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