Fidelity Bank denies probing of former MD/CEO, Nnamdi Okonkwo

Fidelity Bank Plc has refuted an alleged probe of its former Managing Director/Chief Executive Officer, Nnamdi Okonkwo.

The bank in a statement refuted a publication alleging that the Board of Directors had approved a probe of Okonkwo.

It said: “The story is entirely false, malicious and should be discountenanced.

“Okonkwo served the bank meritoriously as managing director and chief executive officer between 2014 and 2020 and led his team to achieve impressive results.

“For the avoidance of doubt, the board of directors continues to hold Okonkwo in high esteem and wish him well in his future endeavours.”

Okonkwo had in the past been the subject of a number of media stories involving accusations of fraud by assisting the past Nigerian Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, in fraudulently diverting funds purportedly for the 2015 elections.

The Economic and Financial Crimes Commission (EFCC) began investigating this and other similar allegations involving other banks, after concerns were raised by the Independent National Electoral Commission (INEC).

However, in November 2019, Okonkwo and several others were discharged from the resulting court case, by the Federal High Court, Lagos Judicial Division. Following the discharge, Okonkwo continued his tenure as Managing Director/Chief Executive Officer of Fidelity Bank, eventually stepping down in December 2020.

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