Onwughalu replaces Chike-Obi as Fidelity chairman

By : Guardian Nigeria

Date: 5 January 2026 4:20am WAT

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Amaka Onwughalu

Amaka Onwughalu

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 chair, effective January 1, 2026.

The changes align with the bank’s policy and have been communicated to the Central Bank of Nigeria (CBN), the Nigerian Exchange Group and other stakeholders, a statement said.

Under Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 per cent and 137.73 per cent respectively, expanded internationally to the United Kingdom and received improved ratings from various agencies, amongst a long list of achievements.

His tenure also saw the bank strengthen its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities and enhance its corporate and investment banking proposition.

The bank equally made notable progress in governance, risk management and operational efficiency, all of which contributed to strengthened market confidence and its sustained upward performance trajectory.

Reflecting on his tenure, Chike-Obi said: “It has been a privilege to serve as Chairman of Fidelity Bank. The dedication of our Board, management, and staff has enabled us to reach significant milestones. I am confident that the Bank will continue to thrive and deliver value to all stakeholders.”

Onwughalu’s appointment marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees. With over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc.

She holds degrees in economics, corporate governance and business administration and has attended executive programmes at global institutions. Onwughalu is a fellow of several professional bodies and has received awards for accountability and financial management.

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