Fidelity Bank Appoints Amaka Onwughalu as New Board Chairperson

Fidelity Bank Plc has appointed Mrs Amaka Onwughalu as its new board chairperson following the completion of the tenure of its former chairperson, Mr Mustafa Chike-Obi.

The appointment was disclosed in a filing with the Nigerian Exchange Limited (NGX) on Friday and signed by the company secretary, Ezinwa Unuigboje.

Chike-Obi Steps Down After Successful Tenure

According to the bank, Mr Chike-Obi, a non-executive director and chairman of the board, stepped down on 31 December 2025 after completing his tenure, in line with Fidelity Bank’s corporate governance policy.

Under his leadership, Fidelity Bank recorded significant growth across key financial indices, successfully executed its strategic objectives, and achieved major milestones aligned with its long-term vision.

The board and management expressed appreciation to Mr Chike-Obi for his contributions to the growth and development of the bank during his time on the board.

Smooth Transition Through Succession Planning

As part of its board succession planning policy and to ensure a seamless transition, the board approved the appointment of Mrs Onwughalu—an existing non-executive director—as chairperson of the board, with effect from 1 January.

The bank also confirmed that the Central Bank of Nigeria (CBN) has been formally notified of the appointment.

Extensive Board and Banking Experience

Mrs Onwughalu joined the board of Fidelity Bank on 17 December 2020. Prior to her appointment as chairperson, she served as:

• Chairperson, Board Credit Committee
• Chairperson, Board Committee on Bank Capitalisation

She is also a member of the:

• Board Finance and General-Purpose Committee
• Board Remuneration, Nomination and Governance Committee
• Board Risk Management Committee, which she previously chaired

The board expressed confidence that she would provide strong leadership and ensure the continued successful execution of the bank’s strategy, noting that the appointment reflects Fidelity Bank’s strong corporate governance standards.

Distinguished Career and Academic Background

Mrs Onwughalu has over 30 years of banking experience, including more than a decade in executive management across several financial institutions. Her expertise spans commercial banking, retail banking, treasury management, banking operations and corporate banking.

She previously served as Group Managing Director of Mainstreet Bank Limited, where she led the successful integration of the bank with Skye Bank Plc. She later became Deputy Managing Director at Skye Bank Plc, a role she held until her retirement in July 2016.

She is currently the Chief Executive Officer of Blueshield Financial Services Limited.

Her academic qualifications include:

• Bachelor’s degree in Economics, University of Buckingham
• Master’s degree in Corporate Governance, Leeds Metropolitan University (UK)
• MBA, University of Port Harcourt

She has also attended leadership and executive programmes at global institutions such as INSEAD, IMD Business School, Cambridge Judge Business School, Columbia Business School, Stanford Graduate School of Business, Harvard Kennedy School, and the Institute of Directors Nigeria.

Professional Memberships and Recognition

Mrs Onwughalu is:

• A Senior Fellow of the Institute of Internal Auditors of Nigeria
• A Fellow of the Institute of Credit Administration
• A Fellow of the Chartered Institute of Bankers of Nigeria
• A Fellow of the Institute of Directors
• A Member of the Nigeria Institute of Management

She is also known for her commitment to mentoring the girl child and supporting women entrepreneurs and professionals to contribute to Nigeria’s economic development.

Her honours include the National Merit Award for Accountability and Transparency, the Award of Excellence and Distinction for Financial Management, and the Vocational Service Award from the Rotary Club of Enugu. She is also a Paul Harris Fellow.

READ ALSO: Q3 2025: Fidelity Bank grows interest income by 33%, fee income by 47%