Amaka Onwughalu takes over as Fidelity Bank Chairman

Fidelity Bank PLC has appointed Mrs. Amaka Onwughalu as the new Chairman of the Board with effect from January 1, 2026. This followed the completion of the tenure of the immediate past Chairman, Mr. Mustafa Chike-Obi on December 31, 2025. A statement on Friday indicated that the board transitions are in alignment with the Bank’s […]

Fidelity Bank PLC has appointed Mrs. Amaka Onwughalu as the new Chairman of the Board with effect from January 1, 2026.

This followed the completion of the tenure of the immediate past Chairman, Mr. Mustafa Chike-Obi on December 31, 2025.

A statement on Friday indicated that the board transitions are in alignment with the Bank’s policy, adding that the development has been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.

The statement added that under Mr. 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 percent and 137.73 percent 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 the Bank’s 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.”

Meanwhile Mrs. Amaka Onwughalu’s appointment was described as 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.

Mrs. Onwughalu is a Fellow of several professional bodies and has received awards for accountability and financial management.

“I am honoured to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have set a strong foundation for continued growth. I look forward to working with my colleagues to drive our strategy and deliver sustainable value,” said the new chairman.

Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.