News
Fidelity Bank Appoints Onwughalu As Chairman Following Completion Of Chike-Obi’s Tenure
Tier one lender, Fidelity Bank Plc, has announced the completion of the tenure of Mr. Mustafa Chike-Obi as Chairman of its Board of Directors effective December 31, 2025, and the appointment of Mrs. Amaka Onwughalu as the new Chairman of the Board, effective January 1, 2026.
The board transitions are in alignment with the Bank’s policy and have been communicated to the Central Bank of Nigeria, the Nigerian Exchange Group, and other stakeholders.
Under Mr. Chike-Obi’s leadership, Fidelity Bank repaid its Eurobond, completed the first tranche of its public offer and rights issue that were oversubscribed by 237 percent and 137.73 percent respectively, expanded internationally to the United Kingdom, and received improved ratings from various agencies amongst a long list of achievements. His tenure also saw the Bank strengthen its capital position, record steady growth in customer deposits and total assets, deepen its digital banking capabilities, and enhance its corporate and investment banking proposition. The bank equally made notable progress in governance, risk management, and operational efficiency, all of which contributed to strengthened market confidence and the Bank’s sustained upward performance trajectory.
Reflecting on his tenure, Mr. Mustafa 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 thrive and deliver value to all stakeholders.”
Mrs. Amaka Onwughalu’s appointment marks a new chapter for Fidelity Bank. She joined the Board in December 2020 and has chaired key committees. With over 30 years of banking experience, including executive roles at Mainstreet Bank Limited and Skye Bank Plc. She holds degrees in Economics, Corporate Governance, and Business Administration, and has attended executive programmes at global institutions. Mrs. Onwughalu is a Fellow of several professional bodies and has received awards for accountability and financial management.
“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 best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including 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 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.
News
Tragedy In Ondo: Gunmen Attack Palace, Traditional Ruler Killed
The Ondo State Police Command has confirmed the assassination of Oba Kehinde Falodun, the traditional ruler of the Agamọ community.
According to command spokesperson DSP Abayomi Jimoh, the monarch was attacked on Wednesday at approximately 7:10 p.m.
Jimoh said the information was received by the division at about 7:50 p.m. from a community leader, High Chief Ajewole Clement of New Town, Itaogbolu,
He said the information indicated that approximately six armed men stormed the residence of the traditional ruler, forcibly took him from his compound, and subsequently fled the scene.
“The victim was later found a few metres away with gunshot wounds. He was confirmed dead at the scene.
“Upon receipt of the report, the Divisional Police Officer (DPO), alongside tactical teams from the command, promptly mobilised officers in collaboration with local security outfits.
“Atuluse Security, local hunters, and Amotekun operatives also assisted to comb adjoining bushes and surrounding areas in a bid to apprehend the perpetrators. Efforts are ongoing to track down and arrest the fleeing suspects.
“Monitoring and surveillance activities have been intensified across the area to ensure the safety of residents and prevent further breakdown of law and order.
“The public are assured that no stone will be left unturned in bringing those responsible for the heinous act to justice,” he said.
According to him, members of the public with credible and actionable information are urged to report to the nearest police station or contact the command.
News
37 Miners Killed By Toxic Gas In Plateau; FG Yet To React
The Federal government has remained silent after reports emerged that carbon monoxide, a poisonous gas, left 37 miners dead and 25 hospitalized at a mining site located in the Zurak Wase Local Government of Plateau State.
This was disclosed in a report by a security journalist, Zagazola Makama, on Wednesday.
Sources told Makama that the incident occurred at the Solid Mining Company early on Feb. 18.
The victims are between 20 and 35 years old and were conducting routine mining operations when they inhaled toxic gas that had accumulated in the poorly ventilated tunnels, the report said.
Makama said, “The site is under strict control, and emergency protocols are being followed to manage the situation,” a source told Makama.
Meanwhile, there is no indication that the Nigerian government nor the Plateau State, and security operatives have reacted to the incident or done anything on the matter.
There are no official statements from both quarters confirming or debunking the incident as of filing this report on Wednesday.
News
Dangote Projects Naira Appreciation To N1,100/$ In 2026
Aliko Dangote, Chairman of the Dangote Group, forecasts that the naira will appreciate to N1,100 per dollar within 2026.
He shared this outlook on Tuesday during the federal government’s unveiling of the National Industrial Policy 2025.
The naira has strengthened in recent weeks, appreciating to N1,335.95 per dollar at the official market and N1,380/$ at the black market on Tuesday.
Commenting on the development, the billionaire businessman said the country has the potential to generate large-scale consumption, industrial growth, and disposable incomes.
“I mean today if you look at it, your excellency, I believe with the policies that you have implemented in government, people now have started seeing the result and manufacturers are very very happy,” Dangote said.
“Today, the dollar is N1,340. Mr. Vice-President, I can assure you with what I know, blocking all this importation and co, naira this year will be as low as N1,100 if we are lucky.
“The only thing is for maybe the government to stop the naira from getting stronger so that they will keep collecting more naira.
“But it’s a catch-22 situation where, now, if the naira gets stronger it means that everything will go down. Everything will go down because we are an import-based country which we shouldn’t be.
“What you should be is to manufacture all the things that we need.”
On February 12, Femi Otedola, the chairman of First HoldCo, expressed optimism that the naira will strengthen meaningfully and will trade below N1,000/$1 before year-end as domestic refining is fully underway.
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