Fidelity Bank Plc has appointed Amaka Onwughalu as its new board chairperson following the completion of the tenure of its former chairperson, Mustafa Chike-Obi.The company secretary, Ezinwa Unuigboje, the bank said Mr Chike-Obi, a non-executive director and chair of the board, stepped down from the board on 31 December 2025 after completing his tenure, in line with the bank’s policy.
The bank said that under Mr Chike-Obi’s leadership, Fidelity Bank recorded significant growth across key financial indices, with the board successfully executing the bank’s strategy and achieving major milestones aligned with its long-term vision.It added that 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.As part of its board succession planning policy and to ensure a smooth 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 said the Central Bank of Nigeria (CBN) has been formally notified of the appointment.Mrs Onwughalu joined the board of Fidelity Bank on 17 December 2020. Before her appointment as chairman, she served as chairperson of the board credit committee and the board committee on bank capitalisation.She is also a member of the board finance and general-purpose committee, the board remuneration, nomination and governance committee, and the board risk management committee, which she previously chaired.
The board said it was confident that Mrs Onwughalu would lead the board in the continued successful execution of the bank’s strategy, adding that the succession arrangement reflects Fidelity Bank’s strong corporate governance standards.Mrs Onwughalu has over 30 years of banking experience, including more than 10 years in executive management across several financial institutions.
Her experience spans commercial banking, retail banking, treasury management, banking operations and corporate banking.She previously served as group managing director of the legacy Mainstreet Bank Limited, where she led the seamless integration of the bank with Skye Bank Plc.She later served as deputy managing director at Skye Bank Plc until her retirement in July 2016.She is currently the chief executive officer of Blueshield Financial Services Limited.Mrs Onwughalu holds a bachelor’s degree in economics from the University of Buckingham, a master’s degree in corporate governance from Leeds Metropolitan University in the United Kingdom, and an MBA from the University of Port Harcourt.
She has attended leadership, executive and business development programmes at several global institutions, including INSEAD in France, IMD Business School in Switzerland, Judge Business School at the University of Cambridge, Columbia Business School in the United States, Stanford Graduate School of Business, Harvard Kennedy School, and the Institute of Directors in Nigeria.
She is a senior fellow of the Institute of Internal Auditors of Nigeria and a fellow of the Institute of Credit Administration, the Chartered Institute of Bankers of Nigeria and the Institute of Directors. She is also a member of the Nigeria Institute of Management.Mrs Onwughalu is committed to mentoring the girl child and supporting women entrepreneurs and professionals to contribute to Nigeria’s economic development.
She is a Paul Harris Fellow and has received several awards, including 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.
