Fidelity Bank Lender appoints new acting MD/CEO after EFCC arrest

According to a statement by the bank on Monday, the appointment follows the arrest of Mr. Nnamdi Okonkwo, managing director/chief executive officer, by the Economic and Financial Crimes Commission (EFCC).

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Fidelity Bank play

Fidelity Bank

(dailytimes)
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Media reports reveal that the Board of Directors of Fidelity Bank Plc has appointed the Executive Director, North, Alhaji Mohammed Balarabe, as the acting managing director/chief executive of the bank with immediate effect subject to regulatory approval.

Nnamdi Okonkwo play

Nnamdi Okonkwo, Fidelity Bank Managing Director

(Sabinews)

 

According to a statement by the bank on Monday, the appointment follows the arrest of Mr. Nnamdi Okonkwo, managing director/chief executive officer, by the Economic and Financial Crimes Commission (EFCC) alongside some officials of the bank for allegedly receiving $115m (N23bn) from Diezani Alison-Madueke, a former minister of Petroleum Resources, to aid the re-election of former President Goodluck Jonathan.

READ: EFCC to go after ex-minister's son over alleged $115 million missing funds

According to Nigeria CommunicationsWeek, the bank, reassured its over 400,000 shareholders and 3.4 million customers of its continued seamless services.

Former Petroleum Minister, Diezani Alison-Madueke play

Former Petroleum Minister, Diezani Alison-Madueke

(The Boss Newspaper)

 

Mr. Martins Izuogbe, the bank’s Head of Operations, was also arrested along with Okonkwo, for his role in the alleged scam.

Nigeria CommunicationsWeek reports that during the build-up to the 2015 presidential election, Alison-Madueke allegedly invited Okonkwo to help her handle some cash, which would be disbursed to electoral officials and groups.

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