Tier one lender, Fidelity Bank Plc, has introduced the completion of the tenure of Mr. Mustafa Chike-Obi as Chairman of its Board of Directors efficient December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the brand new Chairman of the Board, efficient January 1, 2026.
The board transitions are in alignment with the Bank’s coverage and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and different stakeholders.
Under Mr. Chike-Obi’s management, Fidelity Bank repaid its Eurobond, accomplished the primary tranche of its public supply and rights situation that have been oversubscribed by 237 p.c and 137.73 p.c respectively, expanded internationally to the United Kingdom, and acquired improved rankings from varied businesses amongst a protracted record of achievements. His tenure additionally noticed the Bank strengthen its capital place, file regular development in buyer deposits and whole property, deepen its digital banking capabilities, and improve its company and funding banking proposition. The {bank} equally made notable progress in governance, danger administration, and operational effectivity, all of which contributed to strengthened market confidence and the Bank’s sustained upward efficiency trajectory.
Reflecting on his tenure, Mr. Mustafa Chike-Obi mentioned, “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 thrive and deliver value to all stakeholders.”
Mrs. Amaka Onwughalu’s appointment marks a brand new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees. With over 30 years of banking expertise, together with govt roles at Mainstreet Bank Limited and Skye Bank Plc. She holds levels in Economics, Corporate Governance, and Business Administration, and has attended govt programmes at international establishments. Mrs. Onwughalu is a Fellow of a number of skilled our bodies and has acquired awards for accountability and {financial} administration.
“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,” commented Mrs. Onwughalu.
Ranked among the many finest banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million prospects by way of digital banking channels, its 255 enterprise places of work in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of a number of native and worldwide Awards, together with the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was acknowledged because the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and because the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
