The development was disclosed in a notice signed by the Company Secretary, Ezinwa Unuigboje, and submitted to the Nigerian Exchange Limited on Friday. According to the notice, Chike-Obi, who served as a Non-Executive Director, formally stepped down on December 31, 2025, marking the end of a period the bank described as transformational.
During his tenure, the bank said it recorded notable improvements across key financial performance indicators, driven by strategic execution and alignment with its long-term growth objectives. The Board credited his leadership with strengthening governance structures and advancing critical milestones in the bank’s development.
The Board and Management, in the notice, expressed appreciation for his contributions, noting that his stewardship played a significant role in positioning the bank for sustained growth.
In line with Fidelity Bank’s Board Succession Planning Policy, Mrs Onwughalu, an existing Non-Executive Director, assumed office as Board Chairman with effect from January 1, 2026. The bank confirmed that the Central Bank of Nigeria has been duly notified of her appointment.
Mrs Onwughalu has been a member of Fidelity Bank’s Board since December 2020 and has held several key leadership positions, including Chairman of the Board Credit Committee and the Board Committee on Bank Capitalisation. She brings more than three decades of experience in the banking industry, spanning executive management and board-level roles.
Her career includes serving as Group Managing Director of Mainstreet Bank Limited and Deputy Managing Director of Skye Bank Plc. She is currently the Chief Executive Officer of Blueshield Financial Services Limited.
Academically, Onwughalu holds a Bachelor’s degree in Economics from the University of Buckingham, a Master’s degree in Corporate Governance from Leeds Metropolitan University, and an MBA from the University of Port Harcourt. She has also participated in executive education programmes at leading global institutions such as INSEAD, IMD Lausanne, Cambridge Judge Business School, Columbia Business School, Stanford University, and Harvard Kennedy School.
The Board expressed confidence in her ability to provide strategic leadership and sustain the bank’s growth trajectory, describing the smooth transition as a reflection of Fidelity Bank’s strong corporate governance framework.