Tier one lender, Fidelity Bank Plc has announced the completion of the tenure of Mr. Mustafa Chike-Obi as Chairman of its Board of Directors effective 31 December 2025, and the appointment of Mrs. Amaka Onwughalu as the Chairman of the Board, effective 1 January 2026.
The bank said that the board transitions are in alignment with its policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.
Under the leadership of Chike-Obi, the bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237% and 137.73% respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of achievements.
Chike-Obi’s tenure as board chairman also saw the bank strengthened its capital position, recorded steady growth in customer deposits and total assets, deepened its digital banking capabilities, and enhanced its corporate and investment banking proposition.
The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthening 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, Onwughalu holds degrees in Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions.
She 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’, Onwughalu said.
Ranked among the best banks in Nigeria, 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 United Kingdom Limited.
It is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation and MSME Banking Award by BusinessDay Banks and Financial Institutions Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine.
