For Nnamdi Okonkwo, the embattled Managing Director of Fidelity Bank, these are trying trying period in his career as a banker. This is because the management of the bank has relieved him of his job and appointed an Acting Managing Director, Alhaji Mohammed Lawal Balarabe in his place.
Balarabe, whose appointment is with immediate effect, was the Executive Director North.
The bank’s Board of Directors which approved the appointment, said,” the development followed the absence of the substantive Managing Director/Chief Executive Officer.”
The bank reassured all it’s stakeholders, which includes 400,000 shareholders and about 3.4 million customers, of it’s continued seamless services.
Recall that Fidelity Bank came under scrutiny, following the arrest and detention of Okonkwo by the Economic and Financial Crimes’ Commission over $115 million he received from Diezani Alison-Madueke and three others, but failed to report it to the NFIU.
However, Fidelity Bank in statement issued by its management said the transactions were duly reported as required by the regulators and the Bank.
The full statment read;
“Our attention has been drawn to reports in the media on investigations into transactions undertaken by the Bank in the normal course of business in 2015. The transactions are now the subject matter of investigations by the Economic & Financial Crimes Commission (EFCC). We can confirm that the transactions were duly reported as required by the regulators and the Bank is cooperating fully with the authorities on the investigation. We assure our numerous stakeholders, including our customers that we are working assiduously towards a quick resolution of the issues. Thank you Management”
The monies were allegedly used to bribe Independent National Electoral Commission officials in the run-up to the 2015 Presidential elections.
Investigations reveal that Fidelity has refunded N49.7m profit made from the $115m bribe money.