Fidelity Bank gets new Chairman

Fidelity Bank Plc, on Friday, announced the appointment of Mrs Amaka Onwughalu as new Chairman of its Board of Directors with effect from Jan. 1.

A statement by the bank’s media unit says that the appointment follows completion of the tenure of Mr Mustafa Chike-Obi, on Dec. 31, 2025.

The statement said that the board transitions aligns with the bank’s policy which has been communicated to the Central Bank of Nigeria, (CBN), Nigerian Exchange Group, and other stakeholders.

“Under Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed, expanded and received improved ratings from various agencies amongst other achievements.

“During his tenure, the bank also strengthened its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities, and enhance its corporate and investment banking proposition.

“The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthened market confidence and the Bank’s sustained upward performance trajectory,” it said

Reflecting on his tenure, Chike-Obi said that it was a privilege to have served 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,” he said.

On her part Onwughalu’s said that her appointment marks a new chapter for the bank.

The News Agency of Nigeria (NAN) reports that 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 Ltd and Skye Bank Plc.

She holds degrees in Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions.

“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,” she said.