Fidelity Bank Denies N5bn Payment to Police, Describes Report as Malicious and False

Fidelity Bank Plc has dismissed as “false and mischievous” a report by Sahara Reporters alleging that its Managing Director, Nneka Onyeali-Ikpe, paid N5 billion to avoid police detention amid an ongoing fraud probe.

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The bank made its position clear in a statement, stating that there was “no truth” to the claim and describing the publication as a deliberate attempt to mislead the public.

While the bank declined to comment directly on the substance of the case, which is currently before a competent court, it explained that the N5 billion in question was a bail bond not a bribe signed by Ms. Onyeali-Ikpe on her own recognizance after honoring a police invitation.

“The Police invited the MD during their investigation of a matter reported by Mr. James Onyemenam against Mr. Ogo Whoba in relation to the management of the accounts of Woobs Resources Limited. After taking her statement, the Police requested the MD to sign a N5 billion bail bond, which she did voluntarily. It is this bail bond that is referenced in a phone conversation with Mr. Ogo Whoba, which was subsequently recorded without her consent,” the bank said in its statement.

Fidelity Bank further explained that the mischievous claim was raised in a petition by Mr. Victor Ukutt acting for Mr. Whoba and investigated by the Inspector General of Police (IGP). According to the bank, the IGP’s independent investigation found the claim to be baseless.

“As a leading financial institution with a strong track record in corporate governance, Fidelity Bank maintains its highest ethical standards and is committed to upholding the rule of law in all its operations,” the bank concluded.