Nigeria: Fidelity Bank Appoints Onwughalu Chairman As Chike-Obi Completes Tenure

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 December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026.

The board transitions are in alignment with the Bank's policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.

Under Mr. Chike-Obi's leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 percent and 137.73 percent respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of achievements.

Reflecting on his tenure, Mr. Mustafa 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 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.

"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," commented Mrs. Onwughalu.

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