Fidelity Bank Plc, on Friday, announced the appointment of Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026, following the completion of the tenure of Mustapha Chike-Obi as Chairman of its Board of Directors on December 31, 2025.
The Board changes are in line with the Bank's policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group and other stakeholders.
Under Chike-Obi's leadership, Fidelity Bank repaid its Eurobonds, completed the first tranche of its public offering and rights issue, which were oversubscribed by 237% and 137.73% respectively, expanded internationally to the United Kingdom, and received superior ratings from various agencies among a long list of achievements.
During his tenure the bank strengthened its capital position, recorded steady growth in customer deposits and total assets, deepened its digital banking capabilities and enhanced its corporate and investment banking offering. The Bank has equally made remarkable progress in governance, risk management and operational efficiency, which have contributed to strengthening market confidence and the Bank's continued upward performance trajectory.
Reflecting on his tenure, Mustapha Chike-Obi said, “It has been a privilege to serve 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 grow and deliver value to all stakeholders.”
The appointment of Amaka Onwuglu marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and chairs key committees. Over 30 years of banking experience including executive roles at MainStreet Bank Limited and Sky Bank PLC. He has degrees in Economics, Corporate Governance and Business Administration and has participated in executive programs at global institutions. Onwuglu is a Fellow of several professional bodies and has received awards for accountability and financial management.
“I am honored to lead the Board of Fidelity Bank at this exciting time. Our recent achievements have laid a strong foundation for continued growth. I look forward to working with my partners to advance our strategy and deliver lasting value,” Onwuglu commented.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full commercial deposit money bank that serves over 9.1 million customers through digital banking channels, its 255 business offices across Nigeria and its United Kingdom subsidiary, Fidelitybank UK Limited.
The Bank is the recipient of several local and international awards, including the 2024 Excellence in Digital Transformation and MSME Banking Awards by the BusinessDay Banks & Financial Institutions (BAFI) Awards; 2024 Most Innovative Mobile Banking Application Award for Fidelity Mobile App by Global Business Outlook, and 2024 Most Innovative Investment Banking Service Provider Award by Global Brands Magazine.
Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
