Fidelity Bank Plc has introduced a management transition on the board degree following the completion of tenure by its Chairman, Mr. Mustafa Chike-Obi, with Mrs. Amaka Onwughalu appointed as the brand new Board Chairman, efficient January 1, 2026.
Fidelity Bank made the announcement in a discover signed by Firm Secretary, Ezinwa Unuigboje, to Nigerian Change Restricted (NGX) and the investing public.
Mr. Mustafa Chike-Obi, a Non-Govt Director and Chairman of the Board, stepped down on December 31, 2025, after finishing his authorised tenure according to the bank’s governance coverage.
What Fidelity Bank is saying
Within the discover, the Board confirmed that his retirement was duly authorised and carried out in accordance with the Bank’s inside insurance policies.
Below Mr. Chike-Obi’s management, Fidelity Bank recorded vital progress throughout key monetary indices, whereas efficiently executing its strategic goals and reaching main milestones aligned with its long-term imaginative and prescient.
“The Board and Administration seize this chance to precise honest appreciation to Mr. Mustafa Chike-Obi for his excellent contributions to the expansion and improvement of the Bank throughout his tenure,” the assertion mentioned.
Amaka Onwughalu appointed Board Chairman
To make sure continuity and a seamless transition, the Board authorised the appointment of Mrs. Amaka Onwughalu, an present Non-Govt Director, as Chairman of the Board of Administrators, with impact from January 1, 2026.
The bank confirmed that the Central Bank of Nigeria (CBN) has been formally notified of the appointment.
The choice, in keeping with the Board, displays the Bank’s strong succession planning framework and powerful company governance requirements.
In depth board and committee expertise
Mrs. Onwughalu joined the Fidelity Bank Board on December 17, 2020 and beforehand served as Chairman of the Board Credit score Committee and the Board Committee on Bank Capitalisation.
She has additionally been a member of a number of key committees, together with the Board Finance and Normal-Objective Committee, Board Remuneration, Nomination and Governance Committee, and the Board Threat Administration Committee, which she beforehand chaired.
“The Board is assured that Mrs. Amaka Onwughalu will lead the Board within the continued profitable execution of its technique,” the assertion famous.
Over three a long time of banking expertise
Mrs. Onwughalu brings over 30 years of banking expertise, together with greater than a decade in govt administration roles throughout business banking, retail banking, treasury administration, banking operations, and company banking.
She is a former Group Managing Director of legacy Mainstreet Bank Restricted, the place she led its profitable integration with Skye Bank Plc, serving thereafter as Deputy Managing Director till her retirement in July 2016.
She presently serves as Chief Govt Officer of Blueshield Monetary Providers Restricted.
Sturdy educational and skilled credentials
Mrs. Onwughalu holds a BSc in Economics from the College of Buckingham, an MSc in Company Governance from Leeds Metropolitan College, and an MBA from the University of Port Harcourt.
She has attended govt and management programmes at international establishments together with INSEAD (France), IMD (Switzerland), College of Cambridge, Columbia Enterprise School, Stanford Graduate School of Enterprise, Harvard Kennedy School, and the Institute of Administrators, Nigeria.
She is a Senior Fellow of the Institute of Inside Auditors of Nigeria and a Fellow of a number of skilled our bodies, together with CIBN, ICA, and IoD, and a member of NIM.
Extra perception
Past banking, Mrs. Onwughalu is understood for her ardour for mentoring the lady baby and supporting ladies entrepreneurs and professionals as contributors to Nigeria’s financial improvement.
She is a Paul Harris Fellow and a recipient of a number of prestigious awards, together with the Nationwide Benefit Award for Accountability and Transparency (NMAT), the Award of Excellence and Distinction for Monetary Administration (AEDFM), and the Vocational Service Award (VSA) from the Rotary Membership, Enugu.
What you need to know
Fidelity Bank reported Gross Earnings of N366.1 billion for Q3 2025, representing an 8% enhance from the N338.9 billion recorded in Q3 2024. The expansion was pushed by robust curiosity earnings and sustained momentum in fee-based revenues.
Curiosity Revenue, calculated utilizing the efficient rate of interest technique, rose by 33% to N285.6 billion in Q3 2025, in comparison with N214.7 billion in Q3 2024. Different Curiosity Revenue greater than doubled, rising from N13.0 billion within the corresponding interval of 2024 to N34.2 billion. This underscores considerably improved returns from non-core lending actions.