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
Panic In Ibadan As Rising Kidnap, Robbery Threats Trigger Official Red Alert
Residents of Ibadan, specifically in Bodija, Agbowo, Akobo, and the Agodi GRA, are currently on high alert after the Police and the Police Community Relations Committee (PCRC) issued an urgent warning regarding a recent surge in kidnappings and armed robberies in those areas.
According to the DAILY POST, the Bodija Housing Estate Police Division and its community partners have formally expressed concern over the deteriorating security situation in the area.
In a statement signed by Bodija Housing Estate Police Division PCRC and Community Policing Unit of the division, they noted that there is an increase in the rate of kidnapping and armed robberies in areas such as Akobo and Bodija.
The statement urged residents to take necessary safety measures amidst rising cases of kidnapping and other criminal activities in areas such as Akobo and Bodija.
In the statement tagged “Urgent Safety Measures Amid Rising Kidnapping and Armed Robbery Incidents in Areas Including Akobo and Bodija” the residents were alerted that the desire for quick wealth has driven some individuals to commit terrible acts.
Part of the statement reads, “In light of the recent increase in criminal activities such as kidnapping and armed robbery across our communities, it has become imperative to issue updated safety guidelines. The desire for quick wealth has driven some individuals to commit terrible acts, and we must all be vigilant.
“Please adhere strictly to the following precautions, and also note the additional measures outlined below:
“Remember: Your safety and that of your loved ones depend greatly on your level of awareness and willingness to take precautionary steps. Security is a collective responsibility.
“Report emergencies promptly to: Oyo State Police Command: control room:08081768614, 08081768574
Bodija Division: DPO +2348052046348; PCRC Helpline/ Chairman – 07068874553”.
JomogNews reports that some residents have been in a panic mood as a result of the notice.
A resident of Bodija Housing Estate, who spoke on the condition of anonymity, explained that the recent happenings necessitated the notice.
“The recent happenings necessitated the move. Yes we have to be careful. People now think twice before they go out. We are more security conscious than before,” he said.
News
Rivers Assembly Formally Serves Impeachment Notice To Gov. Fubara
The Rivers State House of Assembly has formally served an impeachment notice to Governor Siminalayi Fubara and Deputy Governor Ngozi Odu.
The move marks the third major attempt to remove the governor since 2023, following his return to office in September 2025 after a six-month state of emergency.
Recall that the assembly on Thursday during an emergency plenary, commenced the impeachment of the governor and his deputy.
26 members of the House accused the governor of misconduct, capable of undermining democracy in the state.
The notice which was addressed to the governor, contained the signature of at least 19 lawmakers.
The notice also contained about 8 alleged gross misconducts by the governor and his administration.
In a post on its official Facebook page,the assembly said, “The impeachment notice has been successfully served on the Governor of Rivers State, Siminalayi Fubara”.

News
NCC, CBN Set To Roll Out Refund Framework For Failed Airtime And Data Transactions
In line with the consumer-focused objectives of the Nigerian Communications Commission (NCC) and the Central Bank of Nigeria (CBN), the two regulators have drawn up a framework to address consumer complaints arising from unsuccessful airtime and data transactions during network downtimes, system glitches, or human input errors.
The framework is the outcome of several months of engagements involving the NCC, the CBN, Mobile Network Operators (MNOs), Value Added Service (VAS) providers, Deposit Money Banks (DMBs), and other relevant stakeholders. These engagements were prompted by a rising incidence of failed airtime and data purchases, where subscribers were debited without receiving value and experienced delays in resolution.
The Framework represents a unified position by both the telecommunications and financial sectors on addressing such complaints. It identifies and tackles the root causes of failed airtime and data transactions, including instances where bank accounts are debited without successful delivery of services. It also prescribes an enforceable Service Level Agreement (SLA) for MNOs and DMBs, clearly outlining the roles and responsibilities of each stakeholder in the transaction and resolution process.
Under the new framework, where a purchaser is debited but fails to receive value for airtime or data—whether the failure occurs at the bank level or with an NCC licensee—the purchaser is entitled to a refund within 30 seconds, except in circumstances where the transaction remains pending, of which the refund can take up to 24 hours.
The framework further mandates operators to notify consumers via SMS of the success or failure of every transaction. It also addresses erroneous recharges to ported lines, incorrect airtime or data purchases, and instances where transactions are made to the wrong phone number.
Speaking on the development, the Director of Consumer Affairs at the NCC, Mrs. Freda Bruce-Bennett disclosed that the framework also establishes a Central Monitoring Dashboard to be jointly hosted by the NCC and the CBN. According to her, the dashboard will enable both regulators to monitor failures, the responsible party, refunds, and track SLA breaches in real time.
“Failed top-ups rank among the top three consumer complaints, and in line with our commitment to addressing these priority issues, we were determined to resolve it within the shortest possible time,” she said.
“We are grateful to all stakeholders—particularly the Central Bank of Nigeria and its leadership—for their tireless commitment to resolving this issue and arriving at this framework, and for ensuring that consumers of telecommunications services receive full value for their purchases.
“So far, pending the approval of management of both regulators on the framework, MNOs and banks have collectively made refunds of over N10 billion to customers for failed transactions.”
Mrs. Bruce-Bennett further noted that implementation of the framework is expected to commence on March 1, 2026, once the two regulators have made final approvals, and technical integration by all MNOs, VAS providers and DMBs is concluded.
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