Fidelity Bank Plc has announced the appointment of Mrs. Amaka Onwughalu as its new Board Chairperson, following the successful completion of Mustafa Chike-Obi’s tenure on December 31, 2025. The transition marks a new chapter in leadership for one of Nigeria’s leading financial institutions.
In a statement released to the Nigerian Exchange Limited (NGX) and signed by the company secretary, Ezinwa Unuigboje, the bank confirmed that Mr. Chike-Obi, who served as the non-executive director and chair of the board, stepped down in accordance with its corporate governance policy.
Under Chike-Obi’s leadership, Fidelity Bank experienced strong growth across key performance indicators, achieving major milestones aligned with its long-term strategy. The board commended his contributions to strengthening the bank’s operational excellence and market position, noting that his tenure reflected a period of sustained innovation and profitability.
As part of a structured succession planning process, the board approved Mrs. Onwughalu’s appointment effective January 1, 2026, ensuring a seamless leadership transition. The Central Bank of Nigeria (CBN) has been formally notified of the new appointment, underscoring the bank’s commitment to transparency and best governance practices.
Mrs. Onwughalu joined the board of Fidelity Bank on December 17, 2020, and has since played a pivotal role in several key committees, including chairing the Board Credit Committee and the Board Committee on Bank Capitalisation. She also serves on the Finance and General-Purpose Committee, the Remuneration, Nomination and Governance Committee, and the Board Risk Management Committee, which she previously chaired.
With over three decades of experience across Nigeria’s financial sector, Mrs. Onwughalu brings deep expertise in commercial banking, retail banking, treasury operations, corporate governance, and strategic management. Before joining Fidelity Bank, she served as Group Managing Director of Mainstreet Bank Limited, successfully overseeing its merger with Skye Bank Plc, where she later became Deputy Managing Director until her retirement in 2016.
Currently the CEO of Blueshield Financial Services Limited, Onwughalu’s academic background includes a bachelor’s degree in Economics from the University of Buckingham, an MBA from the University of Port Harcourt, and a master’s degree in Corporate Governance from Leeds Metropolitan University in the United Kingdom. She has also attended executive programmes at world-renowned institutions such as INSEAD, Columbia Business School, Harvard Kennedy School, and the Institute of Directors in Nigeria.
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Beyond banking, Mrs. Onwughalu is passionately committed to mentoring young women and supporting female entrepreneurs across Nigeria. She is a Paul Harris Fellow of Rotary International and has received multiple honors, including the National Merit Award for Accountability and Transparency, the Award of Excellence and Distinction for Financial Management, and the Rotary Vocational Service Award.
Her professional affiliations include being a Senior Fellow of the Institute of Internal Auditors of Nigeria, and a Fellow of the Institute of Credit Administration, the Chartered Institute of Bankers of Nigeria, and the Institute of Directors. She is also a member of the Nigeria Institute of Management.
With her in-depth experience and commitment to ethical leadership, analysts project that Fidelity Bank’s new board era under Amaka Onwughalu will continue driving the lender’s strategic transformation and reinforce its position as one of Nigeria’s most trusted and innovative banks.
