FIDELITY BANK NAMES AMAKA ONWUGHALU BOARD CHAIRMAN AS CHIKE-OBI STEPS DOWN
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By: Sefiu Ajape
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 the new chairman.
The development was disclosed in a notice signed by the Company Secretary, Ezinwa Unuigboje, and forwarded to the Nigerian Exchange Limited on Friday.
According to the notice, Chike-Obi, a Non-Executive Director, stepped down on December 31, 2025, after steering the bank through a period of notable growth across key financial indicators. The bank commended his role in driving strategic progress and long-term institutional development during his time on the board.
“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 achievement of key milestones in line with the long-term vision of the Bank.
“The Board and Management seize this opportunity to express sincere appreciation to Mr Mustafa Chike-Obi for his outstanding contributions to the growth and development of the Bank during his tenure on the Board,” the notice read.
In line with Fidelity Bank’s Board Succession Planning Policy, Mrs Onwughalu, who was already serving as a Non-Executive Director, assumed office as Board Chairman with effect from January 1, 2026. The bank said the Central Bank of Nigeria has been formally notified of her appointment.
Onwughalu joined the Board of Fidelity Bank in December 2020 and has previously chaired the Board Credit Committee and the Board Committee on Bank Capitalisation, among other responsibilities.
She brings more than three decades of banking experience, having held executive management positions across several financial institutions. She previously served as Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director at Skye Bank Plc.
“The Board is confident that Mrs Amaka Onwughalu will lead the Board in the continued successful execution of its strategy.
“The Board is also pleased with the succession arrangements for the role of Board Chairman, which attests to the Bank’s high governance standards,” the notice added.
Currently the Chief Executive Officer of Blueshield Financial Services Limited, 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 INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford University, and Harvard Kennedy School.
The bank expressed confidence that Onwughalu’s appointment would further strengthen board leadership and ensure the continued execution of Fidelity Bank’s strategic objectives, in line with its strong governance culture.
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