Fidelity Bank Plc has appointed Mrs. Amaka Onwughalu as its new non-executive Chairman effective January 1, 2026, succeeding Mr. Mustafa Chike-Obi whose tenure ended December 31, 2025, following the bank's board succession policy. The Central Bank of Nigeria and Nigerian Exchange Group received formal notifications, ensuring regulatory alignment for the tier-one lender serving 9.1 million customers across 255 offices and UK subsidiary.
Chike-Obi's leadership oversaw Eurobond repayment, oversubscribed rights issues (237% public, 138% rights), UK expansion, and rating upgrades amid capital strengthening, deposit growth, and digital leaps. Governance, risk management, and efficiency gains solidified market confidence, with Chike-Obi praising team dedication for sustained trajectory.
Board member since December 2020, Onwughalu chaired Credit and Capitalisation Committees, bringing 30+ years including executive stints at Mainstreet and Skye Banks. Holding degrees in Economics, Governance, and Business Administration plus global executive programs, she's a Fellow of ICAN, CIS, and awardee for financial accountability.
Onwughalu vowed to build on foundations for growth and stakeholder value, mirroring banking sector resilience amid Nigeria's political whirlwinds like Kano defections and Rivers feuds. Fidelity's digital/corporate banking advances position it strongly for 2026 challenges from insecurity to global narco-crackdowns.