The Digest:
Nigerian tier-one financial institution, Fidelity Bank Plc, has ushered in a new era of leadership with the appointment of Mrs. Amaka Onwughalu as Chairman of its Board of Directors, following the completion of Mr. Mustafa Chike-Obi's successful tenure.
Key Points:
- Mrs. Amaka Onwughalu’s appointment as Chairman took effect on January 1, 2026, succeeding Mr. Mustafa Chike-Obi, whose tenure ended on December 31, 2025.
- The transition aligns with the bank’s governance policy and has been formally communicated to the Central Bank of Nigeria and the Nigerian Exchange Group.
- Outgoing Chairman Chike-Obi presided over a period of significant growth, including the repayment of a Eurobond, an oversubscribed public offer, international expansion to the UK, and strengthened capital and digital platforms.
- Mrs. Onwughalu brings over 30 years of banking experience, including executive roles at Mainstreet Bank and Skye Bank, and has served on Fidelity’s board since 2020, chairing key committees.
- She holds advanced degrees in Economics and Business Administration and is a Fellow of several professional institutes.
- In her statement, Onwughalu acknowledged the strong foundation laid and expressed commitment to driving the bank’s strategy for sustainable value.
- Fidelity Bank, serving over 9.1 million customers, is a multi-award-winning institution recently recognized for digital innovation, SME banking, and export financing.
Sources: Nairametrics, Business Day
