Fidelity Bank Appoints Amaka Onwughalu as New Board Chairman Replacing Mr. Chike Obi with Effect from January 1, 2026
Fidelity Bank appoints Amaka Onwughalu as the new board chairman following the completion of the tenure of Mr. Mustafa Chike Obi as chairman of its Board of Directors. The bank announced that his tenure officially ended on December 31, 2025, while Mrs. Amaka Onwughalu assumed office as the new chairman with effect from January 1, 2026.
The board changes are in line with the bank’s corporate governance policy and have been duly communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other key stakeholders. The development has continued to attract attention within the financial sector as Fidelity Bank appoints Amaka Onwughalu as the new board chairman at a time of sustained growth and expansion.
During Mr. Chike Obi’s tenure, the bank recorded major milestones, including the repayment of its Eurobond and the successful completion of the first tranche of its public offer and rights issue. These offers were oversubscribed by 237 percent and 137.73 percent, respectively, while the bank also expanded its international presence to the United Kingdom.
His leadership equally saw Fidelity Bank strengthen its capital position and record steady growth in customer deposits and total assets. The bank also deepened its digital banking capabilities and enhanced its corporate and investment banking offerings, further boosting its market confidence and performance trajectory.
Reflecting on his time in office, Mr. 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.”
Mrs. Amaka Onwughalu’s appointment marks a new phase in the bank’s journey as Fidelity Bank appoints Amaka Onwughalu as the new board chairman to steer its future growth. She joined the Board in December 2020 and has chaired several key committees, bringing over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc.
She holds academic qualifications in economics, corporate governance, and business administration and has attended executive programs at global institutions. Mrs. Onwughalu is also a fellow of several professional bodies and has received multiple awards for accountability and financial management.
Mrs. Onwughalu said, “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.”
Fidelity Bank Plc remains one of the leading banks in Nigeria, serving over 9.1 million customers through its digital banking channels and 255 business offices in Nigeria as well as its United Kingdom subsidiary, FidBank UK Limited. The bank has continued to win several local and international awards in recognition of its innovation, digital transformation, SME banking, and investment banking excellence.
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