Tier-one lender Fidelity Bank Plc has announced the conclusion of Mr. Mustafa Chike-Obi’s tenure as Chairman of its Board of Directors, effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Board Chairman, effective January 1, 2026.

The transition aligns with the Bank’s governance policy and has been duly communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other key stakeholders.

During Mr. Chike-Obi’s tenure, Fidelity Bank achieved significant milestones, including the repayment of its Eurobond, the successful completion of the first tranche of its public offer and rights issue—which were oversubscribed by 237% and 137.73% respectively—international expansion into the United Kingdom, and improved ratings from multiple agencies.

Under his leadership, the Bank strengthened its capital base, recorded steady growth in customer deposits and total assets, enhanced its digital banking capabilities, and advanced its corporate and investment banking offerings. Governance, risk management, and operational efficiency were also improved, bolstering market confidence and supporting a sustained upward performance trajectory.

Reflecting on his tenure, 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 ushers in 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, she brings extensive expertise in leadership, strategy, and governance.

Mrs. Onwughalu holds degrees in Economics, Corporate Governance, and Business Administration, and has participated in executive programs at global institutions. She is a Fellow of multiple professional bodies and has received awards recognizing her contributions to accountability and financial management.

Commenting on her appointment, 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, ranked among Nigeria’s top banks, serves over 9.1 million customers through its 255 business offices in Nigeria and its UK subsidiary, FidBank UK Limited, alongside robust digital banking channels.

The Bank has received numerous local and international accolades, including the 2024 Excellence in Digital Transformation & MSME Banking Award by the BAFI Awards, the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine, the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence, and the Export Financing Bank of the Year by the BAFI Awards.