Fidelity Bank Plc has announced changes to its Board of Directors, with Mrs. Amaka Onwughalu appointed as the new Chairman of the Board following the completion of tenure of Mr. Mustafa Chike-Obi.
The notice signed by the Company Secretary, Ezinwa Unuigboje to the Nigerian Exchange Limited (NGX) and the investing public, the bank said Mr. Chike-Obi, a Non-Executive Director and Board Chairman, stepped down from the Board on December 31, 2025, after completing his tenure in line with the bank’s policy. The Board approved his retirement accordingly.
Under his leadership, Fidelity Bank recorded significant growth across key financial indices, with the Board successfully executing the bank’s strategy and achieving key milestones aligned with its long-term vision.
The Board and Management expressed appreciation to Mr. Chike-Obi for his contributions to the growth and development of the bank during his tenure.
In line with its Board Succession Planning Policy and to ensure a smooth transition, the Board approved the appointment of Mrs. Amaka Onwughalu, an existing Non-Executive Director, as Chairman of the Board with effect from January 1, 2026.
The Central Bank of Nigeria (CBN) has been formally notified of the appointment.
Mrs. Onwughalu joined the Board of Fidelity Bank on December 17, 2020. Prior to her appointment as Chairman, she served as Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation.
She also served as a member of the Board Finance and General-Purpose Committee; Board Remuneration, Nomination and Governance Committee; and the Board Risk Management Committee, which she previously chaired.
The Board expressed confidence that Mrs. Onwughalu will provide strong leadership in the continued execution of the bank’s strategy, noting that the seamless succession reflects Fidelity Bank’s high corporate governance standards.
Mrs. Onwughalu has over 30 years of banking experience, including more than 10 years in executive management across commercial banking, retail banking, treasury management, banking operations and corporate banking.
She was formerly the Group Managing Director of legacy Mainstreet Bank Limited, where she led the successful integration of the bank with Skye Bank Plc, and later served as Deputy Managing Director of Skye Bank until her retirement in July 2016.
She is currently the Chief Executive Officer of Blueshield Financial Services Limited. She holds a Bachelor’s degree in Economics from the University of Buckingham, a Master’s degree in Corporate Governance from Leeds Metropolitan University, United Kingdom, and an MBA from the University of Port Harcourt.
Mrs. Onwughalu has attended leadership and executive programmes at global institutions including INSEAD, France; IMD Business School, Switzerland; Judge Business School, University of Cambridge; Columbia Business School, USA; Stanford Graduate School of Business; Harvard Kennedy School, USA; and the Institute of Directors, Nigeria.
She is a Senior Fellow of the Institute of Internal Auditors of Nigeria, a Fellow of the Institute of Credit Administration, the Chartered Institute of Bankers of Nigeria and the Institute of Directors, and a member of the Nigerian Institute of Management.
Beyond banking, Mrs. Onwughalu is an advocate for mentoring the girl child and supporting women entrepreneurs and professionals.
She is also a Paul Harris Fellow and a recipient of several awards, including the National Merit Award for Accountability and Transparency, the Award of Excellence and Distinction for Financial Management and the Rotary Club’s Vocational Service Award.