Fidelity Bank Plc has confirmed the appointment of Amaka Onwughalu as Chairman of its Board of Administrators, efficient January 1, 2026 following the completion of Mustafa Chike-Obi’s tenure on December 31, 2025.
The board-level change varieties a part of the bank’s structured succession framework and has been formally communicated to key regulators and market establishments, together with the Central Bank of Nigeria and the Nigerian Trade Group.
The transition ensures continuity in governance and compliance with regulatory necessities governing management tenures within the banking sector.
Chike-Obi exits the position after a tenure marked by notable capital and balance-sheet milestones. Through the interval, the bank strengthened its capital base, concluded a profitable Eurobond reimbursement, executed an oversubscribed public provide and rights difficulty, expanded its worldwide footprint with a presence in the UK, and recorded regular development throughout customer deposits and complete property.
The tenure additionally coincided with enhancements in governance requirements, danger administration practices, and operational effectivity, supporting sustained market confidence.
Onwughalu’s elevation displays board continuity and institutional familiarity. She joined the board in December 2020 and has held management obligations throughout key committees.
With greater than three a long time of expertise within the banking trade, together with government roles at former tier-one establishments, her background spans company governance, danger oversight, and monetary administration.
She has accomplished government schooling programmes at worldwide establishments and holds skilled fellowships throughout a number of trade our bodies.
In feedback following her appointment, Onwughalu stated she seems ahead to working with fellow administrators and administration to construct on latest achievements and advance the bank’s strategic priorities, with a concentrate on sustainable development and long-term worth creation.
Fidelity Bank stays considered one of Nigeria’s main industrial lenders, serving over 9 million prospects by its digital platforms, nationwide department community, and its UK subsidiary.
The bank has continued to obtain native and worldwide recognition for innovation in digital banking, MSME financing, and funding banking providers.
The board transition positions the lender for its subsequent part of execution because it navigates evolving regulatory, aggressive, and macroeconomic situations in 2026 and past.
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