According to The Guardian, Fidelity Bank Plc has officially transitioned its leadership, with Amaka Onwughalu assuming the role of Chairperson of the Board of Directors. She succeeds Mustafa Chike-Obi, whose highly successful tenure concluded on December 31, 2025. Onwughalu, a veteran with over three decades of experience in the banking sector, including senior roles at the former Mainstreet Bank and Skye Bank, is expected to lead the institution through its next phase of international expansion.
The transition comes as the bank celebrates a period of significant growth, including the oversubscription of its recent public offer and its successful expansion into the United Kingdom market. The Board expressed confidence that Onwughalu’s deep expertise in risk management and corporate governance will sustain the bank’s upward trajectory and strengthen market confidence.
This corporate update was also tracked by ThisDay and Leadership. ThisDay noted that ‘Onwughalu’s appointment aligns with the CBN’s guidelines on board diversity and tenure,’ while Leadership quoted an industry analyst who stated, ‘Replacing a titan like Chike-Obi is a tall order, but Onwughalu has the institutional memory to pull it off.’
Echotitbits take: Fidelity Bank is currently one of the most aggressive ‘tier-2’ banks aiming for ‘tier-1’ status. Onwughalu’s primary challenge will be maintaining the digital innovation and Eurobond repayment momentum established by her predecessor. Watch for new retail banking products targeting the Nigerian diaspora in the UK under her leadership.
Source: Fidelity Bank – https://www.fidelitybank.ng/fidelity-bank-appoints-onwughalu-as-chairman-following-completion-of-chike-obis-tenure/ January 5, 2026
Photo Credit: Fidelity Bank
