Fidelity Bank Plc has appointed Amaka Onwughalu as non-executive director and chairman of its board, following the completion of Mustafa Chike-Obi’s tenure.
The bank announced this to the investing public on Friday, January 2, noting that Chike-Obi’s tenure ended on December 31, 2025.
“The Board has approved the retirement, which is in accordance with the Bank’s policy,” Fidelity Bank stated.
According to the bank, under his chairmanship, Fidelity Bank recorded significant growth across key financial indices as Chike-Obi led the board successfully in executing the bank’s strategy and achieving key milestones in line with the long-term vision of the bank.
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“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,” Fidelity Bank stated.
It said the appointment was in line with its board succession planning policy.
It noted that Onwughalu’s appointment as chairman of the board takes effect from January 1, 2026 and that the Central Bank of Nigeria (CBN) has been formally notified of the appointment.
Onwughalu joined the board on December 17, 2020, and before she was appointed board chairman, she served as chairman of the board credit committee and board committee on bank capitalisation and as a member of the board finance and general-purpose committee; board remuneration nomination and governance committee; and board risk management committee, which she also previously chaired.
“The Board is confident that Mrs Amaka Onwughalu will lead the Board in the continued successful execution of its strategy.
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“The Board is also pleased with the succession arrangements for the role of Board Chairman, which attests to the Bank’s high governance standards,” Fidelity Bank stated.
About Amaka Onwughalu
Amaka Onwughalu has over 30 years of banking experience, including over 10 years in Executive Management in various financial institutions, with proven expertise across diverse segments, including commercial banking, retail banking, treasury management, banking operations and corporate banking.
She served in executive management positions in different institutions and was the former group managing director of legacy Mainstreet Bank Limited, where she led the successful execution of a seamless integration of the bank with Skye Bank Plc, where she served as deputy managing director until her retirement in July 2016.
She is currently the chief executive officer of Blueshield Financial Services Limited and holds a BSc Degree in Economics from the University of Buckingham, an MSc Degree in Corporate Governance from Leeds Metropolitan University, United Kingdom, and an MBA from the University of Port Harcourt, Nigeria.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
