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Boss Of The Week

Tony Elumelu: 60 Diamond Garlands for Africa’s Symbol of Enterprise

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By Eric Elezuo
On March 22, 2023, an enigma celebrated another year of positive impact on the surface of the earth. He is Tony Onyemachi Elumelu, the influential name associated with the great United Bank for Africa, Tony Elumelu Foundation and Heirs Holdings Limited. Here is a man who will never cease to create firsts. That is what he was created to do, and has never disappointed. As such, his accolades resonate not just in the Africa sub-regions, but across the globe.
Vintage Tony Elumelu is the Chairman of Heirs Holdings, the United Bank for Africa, Transcorp and founder of The Tony Elumelu Foundation. A Nigerian national honours holder, the Commander of the Order of Nigeria (CON), and Member of the Order of the Federal Republic (MFR). It is worth noting that Tony has successfully held various editions of his annual Tony Elumelu Foundation Entrepreneurial Forum with not less than 54 African countries participating each time.
Adding another glorious feather to his retinue of feathers, Elumelu and his team of dedicated achievers, also operate new group insurance companies, namely Heirs Insurance and Heirs Life.
For a man, whose only concern is affecting humanity, it is not surprising that encomiums trail every of his step. In faraway Belgium on November 15, 2020, the man many referred to as chairman of chairmen was conferred with Belgium’s oldest and most important national honour titled: “The honorary distinction of Officer in the Order of Leopold.”
The award is said to be in recognition of his commitment to the eradication of poverty and the economic empowerment of young Africans. That’s vintage Tony, and it is no wonder he has been able to coin a new lexicon in the dictionary of entrepreneurial intelligence; Africapitalism!

“…the Kingdom of Belgium conferred on me with the honorary distinction of Officer in the Order of Leopold, the country’s oldest and most important National Honour.

“I am humbled by this recognition of the work @TonyElumeluFDN in catalysing entrepreneurs across Africa and will continue to drive the economic empowerment of our brilliant young #Africanentrepreneurs to propel development in Africa,” the distinguished entrepreneur had reported.

In commemoration of of his diamond jubilee event, a symposium was held in his honour at the Tony Elumelu Amphitheatre in UBA House.

The symposium tagged ’60 for 60’ was attended by 60 young beneficiaries of the Tony Elumelu Foundation Entrepreneurship Programme, friends and colleagues.

Born Tony Onyemaechi Elumelu on March 22, 1963, in Jos, Nigeria, the economist by training, visionary entrepreneur and philanthropist, acquired and turned Standard Trust Bank into a top-five player in Nigeria. In 2005, his corporate reputation as an African business leader was sealed when he led the largest merger in the banking sector in Sub-Saharan Africa to acquire United Bank for Africa (UBA). In five years, he transformed it from a single-country bank to a pan-African institution with over seven million customers in nineteen African countries.
In 2011, New African magazine listed him as one of the 100 most influential people in Africa, and a year later (2012), he was recognised as one of “Africa’s 20 Most Powerful People” by Forbes Magazine.
Following his retirement from UBA in 2010, Elumelu founded Heirs Holdings, which invests in the financial services, energy, real estate and hospitality, agribusiness, and healthcare sectors. In the same year, he established the Tony Elumelu Foundation, an Africa-based and African-funded philanthropic organisation dedicated to the promotion of excellence in business leadership and entrepreneurship, and to enhancing the competitiveness of the private sector across Africa.
His stated objective at the formation of Tony Elumelu Foundation was to “prove that the African private sector can itself be the primary generator of economic development.” The Foundation is charged with the mission of driving Africa’s economic development by enhancing the competitiveness of the African private sector. As a premier pan-African-focused not-for-profit institution, the Tony Elumelu Foundation is dedicated to the promotion and celebration of entrepreneurship and excellence in business leadership across the continent, with initiatives like The Tony Elumelu Entrepreneurship Programme (TEEP)
In a bid to expand his conglomerate as well as his business horizon, in 2011, through Heirs Holdings, he acquired a controlling interest in the Transnational Corporation of Nigeria Plc (Transcorp), a publicly quoted conglomerate that has business interests in the agribusiness, energy, and hospitality sectors. Elumelu was subsequently appointed chairman of the corporation.
His enterprise is not limited to self financed enterprises as he serves as an advisor to the USAID’s Private Capital Group for Africa (PCGA) Partners Forum. He also sits on the Nigerian President’s Agricultural Transformation Implementation Council (ATIC). He is also vice-chairman of the National Competitiveness Council of Nigeria (NCCN) whose formation he was a key driver in, and serves as Co-Chair of the Aspen Institute Dialogue Series on Global Food Security.
Elumelu additionally chairs the Ministerial Committee to establish world-class hospitals and diagnostic centres across Nigeria, at the invitation of the Federal Government and the Presidential Jobs Board, engineered to create 3 million jobs in one year. He also serves as a member of the Global Advisory Board of the United Nations Sustainable Energy for All Initiative (SE4ALL) and USAID’s Private Capital Group for Africa Partners Forum.
One will not be wrong to address him as a philosopher as well as he is the originator of the term Africapitalism. According to him, Africapitalism is an economic philosophy that embodies the private sector’s commitment to the economic transformation of Africa through long-term investments that create both economic prosperity and social wealth. Elumelu sees Africans taking charge of the value-adding sectors and ensuring that those value-added processes happen in Africa, not through nationalisation or government policies, but because there is a generation of private sector entrepreneurs who have the vision, the tools and the opportunity to shape the destiny of the continent. He insists that Africapitalism is not capitalism with an African twist; it is a rallying cry for empowering the private sector to drive Africa’s economic and social growth.
Having studied under Professor Porter at Harvard Business School, Elumelu subscribes to Michael Porter’s concept of Creating Shared Value (CSV). Professor Porter is the Founding Patron of The Tony Elumelu Foundation. In the same vein, CSV refers to the idea that “companies must take the lead in bringing business and society back together.” It asserts that “businesses acting as businesses, not as charitable donors, are the most powerful force for addressing the pressing issues (society) face(s).”
In 2003, the Federal Government of Nigeria granted Tony Elumelu the title of Member of the Order of the Federal Republic (MFR), a national honour, and in 2006, he was voted African Business Leader of The Year by the Africa Investor magazine and was also recognised as  African Banker of the Year in 2008 by the African Banker magazine. In 2009, the Nigerian President Umaru Musa Yar’adua honoured him with a place on the Presidential Committee on the Global Financial Crisis.
In 2012, he was awarded the prestigious National Honour of Commander of the Order of the Niger (CON) for his service in promoting private enterprise. Apart from being recognised as one of “Africa’s 20 Most Powerful People in 2012” by Forbes Magazine as well as being featured in the New African Magazine’s list of the “100 Most Influential Africans in Business”. He was awarded an honorary Doctorate of Science degree from the Benue State University and an honorary Doctorate of Business Administration from the University of Nigeria, Nsukka.
In 2013, Elumelu received the Leadership Award in Business and Philanthropy from the Africa-America Institute (AAI) Awards. He was also named African Business Icon at the 2013 African Business Awards.
In addition, ESI-Africa, frequently described as “Africa’s power journal”, named Elumelu in its 2015 ‘ESI Most Influential Figures in African Power’ list, in January 2015.
Elumelu is not just a financial wizard; he also writes as well as provides incredible inspiration to writers. Some works that involves him include: How to Excel at Work – Proven strategies for achieving superior work performance by Bili A. Odum – a book inspired by Elumelu’s work ethics.
Elumelu has contributed to the Nigeria Leadership Initiative White Papers, writing on Leveraging private sector approaches in transforming government delivery.
The Power of Vision: Insights on Tony Elumelu is a testimonial compiled on the occasion of his retirement as Group Managing Director/Chief Executive Officer at the United Bank for Africa. It contains messages from Aliko Dangote, former Nigerian President Olusegun Obasanjo, Professor Michael Porter, former World Bank managing director and Nigeria’s Minister of Finance, Ngozi Okonjo-Iweala, President of Sierra Leone; Ernest Bai Koroma, former United States Comptroller of the Currency, Eugene Ludwig and Sanusi Lamido Sanusi, former Governor of the Central Bank of Nigeria.
He has written about his philosophy and the economic development of Africa for several publications around the world including The Economist, the Wall Street Journal and Financial Times.
The TOE Way: A handbook that offers insights into Elumelu’s philosophies, business practices, values and secrets of success, written by the man himself.
Tony Elumelu is happily married to Awele Vivian Elumelu, who he married in 1993, and they are blessed with five wonderful girls; Nneka, Ugo, Ogor, Oge and Onyinye.
It will not be worthwhile to end this article without stating the humble philanthropist’s one of most important quotes:
“Everything I have today is because of Africa, I was born here, went to school here, I work here and I’m achieving some level of financial comfort here.”
Sir, for your steadfastness in business and transformation of lives as well as unleashing the Midas magic to anything you are involved in or touched, you deserve once again to be celebrated.
Congratulations sir and happy 60th birthday!

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Boss Of The Week

Ghana 2028: Mahamudu Bawumia Claims NPP’s Presidential Ticket

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By Eric Elezuo

In a keenly contested primary election, former Vice President Mahamadu Bawumia has claimed the presidential ticket of the New Patriotic Party (NPP) to fly the party’s flag in the 2028 presidential election in Ghana.

Bawumia defeated four other aspirants to clinch the ticket with a total votes of 110,643 (56.48%). They others fared as follows: Kennedy Ohene Agyapong – 46,554 (23.76%), Dr Bryan Acheampong – 36,303 (18.53%), Dr Yaw Osei Adutwum – 1,999 (1.02%) and Kwabena Agyei Agyepong – 402 (0.2%)

The votes cast were from the over 200,000 delegates from 333 polling centres across the 16 regions Ghana. From every indication, it appears obvious that the former vice president won by a landslide.

A seasoned academia-cum politician, Mahamudu Bawumia was born on October 7, 1963, and is reputed to share heritage with the Mabia (Mossi-Dagbon) ethnicity, as well as with influential figures such as Thomas Sankara, Alhassane Ouattara, Haruna Iddrisu, among many others.

He has out of a dint of hardwork, served at the highest level of politics and career, serving as seventh vice president for eight years and head of the Ghanaian central bank. He was also  the New Patriotic Party (NPP) nominee for president in the 2024 general election

A member of Mamprusi people, Bawumia was born in Tamale, Ghana, to Alhaji Mumuni Bawumia and Hajia Mariama Bawumia. He is the twelfth of his father’s 18 children and the second of his mother’s five.

A Muslim by virtue of religion, Bawumia was named after Yaa Naa Mahamadu Bila, a king of Dagbon who ruled from 1948 to 1953. The name Bawumia means “They have heard” in Dagbanli and Gmampruli languages.

Tailored through educational inclination, Mahamudu Bawumia attended the Sakasaka Primary School in Tamale, and gained admission to Tamale Secondary School in 1975.

After graduating from Tamale Secondary School, he went to the United Kingdom, where he studied Banking, and obtained the Chartered Institute of Bankers Diploma (ACIB).

While at school, he participated activity in campus politic, becoming the president of the Ghana United Nations Students’ Association (GUNSA) in 1981.

In 1987, he graduated with a First Class Honours Degree in Economics from the  Buckingham University.

He later obtained a Master’s Degree in Economics at Lincoln College, Oxford, and obtained a PhD in Economics at the Simon Fraser University, Vancouver, British Columbia, Canada in 1995. His areas of specialization include Macroeconomics, International Economics, Development Economics and Monetary Policy.

For an egghead like Bawumia, numerous publications trail his trajectory.

From 1988 to 1990, Bawumia worked as a lecturer in monetary economics and international finance at the Emile Woolf College of Accountancy in London, England. He also served as an intern at the Research Department of the International Monetary Fund in Washington, D.C. Bawumia also served as resident representative of the African Development Bank in Zimbabwe.

Between 1996 and 2000, Bawumia served as an assistant professor of economics in the Hankamer School of Business at Baylor University in Waco, Texas, USA, where he received a Young Researcher Award in 1998. He was listed in “Who Is Who Among America’s Teachers” in 1999. He also published two books on monetary policy and economic development.

Bawumia returned to Ghana in 2000 to work as an Economist at the Bank of Ghana. He rose from senior economist to head of department and subsequently served as special assistant to the governor of the bank.

In June 2006, then President John Kufuor appointed Bawumia the deputy governor of the Bank of Ghana, where he had an enviable track record of achievements across departments, sections and units.

During the run to the 2008 general elections, Bawumia resigned his position as deputy governor at the Bank of Ghana, becoming the running mate to NPP presidential candidate, Nana Akufo-Addo. Though they lost the election, Bawumia’s carriage increased the NPP’s vote count.

He was however, to return to the academic world, undertaking various assignments locally and internationally, including becoming consultant to the Economic Commission of Africa between February and March 2009, and a visiting scholar at the University of British Columbia Liu Centre for Global Studies and UBC Fisheries Centre between April and October 2009.

Owing to sterling credentials over the years, in January 2011, Bawumia was appointed resident representative of the African Development Bank for Zimbabwe by the African Development Bank. He served in this position until reappointed as the vice-presidential candidate to Nana Akufo-Addo on the ticket of the New Patriotic Party for Ghana’s 2012 presidential election. Again, they lost the election. 

But on his third attempt in 2016, he became Vice President of the Republic of Ghana with Akufo-Addo as the Presidential. For eight years, both men run the affairs of Ghana, having enjoyed a reelection in 2020.

In 2024, as Akufo-Addo completes his tenure, he signified his interest to rum for the presidency, running against the candidate of the National Democratic Congress (NDC), John Mahama, who eventually won the election. On 8 December 2024, Bawumia conceded defeat to former President John Mahama in an address to the media at his residence.

Bawumia is known for several philanthropic works:

In October 2020, he formally commissioned an ultramodern mosque built and fully funded by him for use by the people of Prang in the Bono East area. Dr. Bawumia had earlier in June same year settle over nearly 6 decades land lease arrears for the Kumasi Central Mosque.

In September 2021, he pledged GHS 1,500 monthly stipend to Psalm Adjeteyfio to take care of his rent and upkeep. In May 2022, Dr. Bawumia donated an amount of GHs 20,000.00 to a taxi driver who returned missing GHs 8,400.00 to the owner. In October 2021, Dr. Bawumia celebrated his 58th birthday with inmates of the Weija Leprosarium. In October 2022, he celebrated his birthday with cured lepers from the Weija Leprosarium and in October 2023, he celebrated his 60th birthday with the orphans at the Kumasi Children’s Home.

Bawumia is married to Samira Bawumia, and they have four children. He is expected to harness all his political and economic advantages in 2028 as he squares up against whoever the NDC will present since President John will no longer be on the ballot paper.

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Boss Of The Week

Emeka Anyaoku: When a Global Statesman Turns 93

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By Eric Elezuo

With each passing day, week, and year, global diplomatic icon, Chief Emeka Anyaoku, continues to grow in bounds, and wow the world with his touch of class and excellence. At a glorious 93 years, the stateman of international repute is not slowing down anytime soon if his current zeal, carriage and abundant reservoir of wealth of experience is anything to go by.

According to a classmate and contemporary of the revered nonagerian, Mr. S. I. Metu, “from all we now know of Mr. Anyaoku, it is obvious that he was destined to be a diplomat, because he had all the makings – intelligence, friendliness, the ability to get things without offending anybody.

It is worth knowing that among the world’s very and highly respected diplomats is Nigeria’s diploma extraordinaire, Chief Anyaoku. His larger than life figure is further buttressed as he slides three more years into the nonagerian cadre. The world therefore, raises a toast to an accomplished and dedicated international figure as he celebrates 93 years of continuous impact in world diplomacy, politics and humanitarian endeavours.

Chief Anyaoku, before, during and after his glorious days with the Commonwealth of Nations as its Executive Secretary, has remained in the forefront of policy makers, image changers and global builders, and he is a few of these calibre of men, who do not have any kind of scandal trailing them. He qualifies as an enigma, and served as the third Commonwealth Secretary-General.

With his signature red cap, a white collar-like attire round his neck, supporting every apparel he wears, Anyaoku is very visible in every gathering and occasion.

A multiple awards and honours winner, including the prestigious GCON, GCVO, CFR, CON, Anyaoku was born Eleazar Chukwuemeka Anyaoku, of Igbo parents and heritage, Emmanuel and Cecilia Anyaoku, on January 18, 1933, in Obosi, in the present day Anambra State. He was educated at Merchants of Light School, Oba, and attended the University College of Ibadan, then a college of the University of London, from where he obtained an honours degree in Classics as a College Scholar. Aside from his international career, Anyaoku finds ample time to fulfill the duties of his office as Ichie Adazie of Obosi, traditional Ndichie chieftainship. He is the first of his mother’s children, and had five other siblings.

At the age of seven, the young Emeka was sent to live with his father’s only brother, Egwuenu Anyaoku, at Umuahia to start schooling in a very rural school. At 10, in 1943, he was sent to stay with his father’s cousin, Nathaniel Enwezor who was Headmaster at CMS Central School at Agbor.At Merchants of Light School (MOLS), Oba, where he had his secondary education, he learnt the importance of hard work, good character and good inter-personal relations. Records have it that he was outstanding, smart and brilliant. He also showed particular signs of leadership qualities during his young age.
Anyaoku is known to have organised the first African Commonwealth Heads of Government Roundtable in early 1997, to promote democracy and good governance on the continent. As a typical Igbo man, he still honours his traditional duties, serving as a chief in the midst of his international commitments. Anyaoku continues to fulfil the duties of his office as Ichie Adazie of Obosi, a traditional Ndichie chieftaincy title.
Wikipedia further captured his trajectory as follows:

After his secondary education, Anyaoku in 1952 proceeded to teach at Emmanuel College, Owerri in the then Eastern Region, he was there until mid-1954 lecturing in mathematics, Latin and English. He was reputedly an assiduous young teacher, meticulous in preparing his lesson notes. He gave back to his students the best of what he had learned at MOLS while injecting humor into his teachings.

One of his teachers at MOLS had kindled in him an interest in the Classics. His Latin teacher had inspired in him a love for the languages, laws and culture of the ancient Greeks and Romans, and the classical roots of the English language. Anyaoku then decided to go and study Classics at the new University College of Ibadan, the premier higher institution of its kind in the country, which had been instituted in 1948 as an overseas college of the University of London.

During the mid-1950s when Anyaoku was an undergraduate at the University College, Ibadan, the Nigerian nation was embroiled in debates, discussions and demonstrations on the political future of the country. There were controversies on when Nigeria should gain independence from Britain and with what political structure it should seek independence whether as a unitary or federal state. The city of Ibadan was one of the main epicenters of these debates. And the University College, which had brought together brilliant students, lecturers and politicians from diverse parts of the country, became a centre of what was then described as national radicalism.

Catriona Laing, Chief Emeka Anyaoku & Laure Beaufils

Anyaoku was in the thick of this as a student union leader. He along with like-minds in the union leadership campaigned in favour of unitary state, against federalism. They sent petitions and delegations to the three foremost political leaders in the country then, Dr. Nnamdi Azikiwe in the Eastern region of the country, Chief Obafemi Awolowo in the Western, and Sardauna of Sokoto, Sir Ahmadu Bello in the Northern region.

Anyaoku in 1959 obtained a London University Honours Degree in classics as a college scholar and joined the Commonwealth Development Corporation (CDC) in Lagos. The corporation sent him as an Executive Trainee to the CDC headquarters in London from where he went on a course at the Royal Institute for Public Administration in London. On 1 October 1960, Nigeria was granted independence by Britain. And Anyaoku was posted back to the CDC West Africa regional office in Lagos at the end of December 1960.

In December 1961, Anyaoku then a CDC Executive Officer came in contact with a twenty year old Yoruba lady, Princess Ebunola Olubunmi Solanke, at a bachelor’s eve party which he and his flatmate hosted for a friend of theirs in Lagos. The princess, familiarly known by the diminutive “Bunmi”, was educated in England at a Christian girls boarding school, St. Mary’s School at Hastings. She thereafter attended Pitman College, London. Emeka and Bunmi were married at the Anglican Cathedral Church in Lagos on 10 November 1962.
In 1959, Emeka Anyaoku joined the Commonwealth Development Corporation. In early 1962, Anyaoku came in contact with the then Prime Minister of Nigeria, Sir Abubakar Tafawa Belewa. He had accompanied his visiting boss, Lord Howick, Chairman of the Commonwealth Development Corporation, to a meeting with the Prime Minister on the activities of the corporation in Nigeria and the West African region. The Prime Minister, impressed by Anyaoku’s answers to some of his questions on the projects supported by the CDC in West Africa, took an interest in Anyaoku’s future and persuaded him to consider joining the Nigerian Foreign Service. After a grueling interview by the Federal Civil Service Commission, he was offered an appointment in the Foreign Service in April 1962. Within a month of his entry, he was appointed Personal Assistant to the Permanent Secretary of the Ministry for External Affairs. There he was closely involved in the process that led to the establishment of the Organisation for African Unity (OAU) in May 1963. Following Nigeria’s independence, he joined Nigeria’s diplomatic service, and in 1963 was posted to its Permanent Mission to the United Nations in New York.In 1966, he joined the Commonwealth Secretariat as Assistant Director of International Affairs. In 1968-69 there was a campaign by the Nigerian military government for the recall of Anyaoku; which said he was not a suitable Nigerian nominee, and they were anxious about his loyalty “to the country of his birth”. But “Emeka had resigned from the Nigerian Foreign Service and Arnold had no difficulty in turning aside the demand”.In 1977, the Commonwealth Heads of Government elected him as Deputy Secretary-General. In 1983, Nigeria’s civilian government appointed Anyaoku to become Nigeria’s Foreign Minister. After the overthrow of the government by the military later that year, he returned to his position as Deputy Secretary-General with the support of the new government in Nigeria and the endorsement of all Commonwealth governments.

At the Commonwealth Heads of Government Meeting at Kuala Lumpur on 24 October 1989, Anyaoku was elected the third Commonwealth Secretary-General. He was re-elected at the 1993 CHOGM in Limassol for a second five-year term, beginning on 1 April 1995.

Recall that in 1998, the former President of South Africa, Nelson Mandela, in recognition of Chief Emeka Anyaoku’s antecedents concerning South Africa, and the manner in which he had championed the cause of the progressive movements around the world, afforded him the rare honour of addressing a joint sitting of the South African National Assembly. Also, former President Nelson Mandela wrote the foreword to Chief Chukwuemeka Anyaoku’s book, Eye of Fire.

Chief Emeka Anyaoku has lived, and continue to up to expectations, and merit the positive tags that trail him the world over.

Yes, when a global of Anyaoku’s magnitude turns 93, the international community rumbles in absolute cheers.

We wish the seasoned diplomat a glorious 93rd birthday, and many more years to follow, looking magnificently young in health and wealth.

Congratulations sir!

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Boss Of The Week

Meet Fidelity Bank’s New Board Chair, Amaka Onwughalu

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By Eric Elezuo

For her dexterity, hard work, commitment, achievement and integrity, excellent banker and entrepreneur, Mrs Amaka Onwughalu, has the nod of the Fidelity Bank’s family to take up the chairmanship position of its board as Mustafa Chike-Obi completes his tenure.

In a statement announcing her appointment, the Bank posted on its website as follows:

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. 

Before landing the chairmanship job at Fidelity Bank Board, Amaka has been the Managing Director of Legal at Mainstreet Bank, and Deputy Managing Director at Skye Bank.

Onwughalu joined Fidelity Bank Plc in 2020, and has served as a Director at of Bank Plc.

The accomplished banker holder of the prestigious of Paul Harris Fellowship of the Rotary Club, and recipient of various prestigious 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, Enugu.

Well read, Amaka Onwughalu is a Master Degree holder of Science in Corporate Governance from Leeds Metropolitan University and a Master of Business Administration from University of Port Harcourt, Nigeria.

Onwughalu boasts of a cumulative three decades experience in the banking, and has held very senior and managerial positions before climaxing on the top level of chairmanship of Fidelity Bank.

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