Fidelity Bank Plc has formally denied recent media claims suggesting that its Managing Director, Nneka Onyeali-Ikpe, paid ₦5 billion to evade police detention amid an alleged ₦19 billion fraud investigation.
The bank described the report, published by Sahara Reporters, as “patently false” and “maliciously written to deceive the public.”
In a statement issued over the weekend, Fidelity Bank clarified that the ₦5 billion figure referenced in the report was a bail bond signed on self-recognizance during the police’s investigation of a separate legal matter involving Woobs Resources Limited.
The bank noted that no monetary payment was made to any police authority by the MD or the institution.
“The police invited the MD during their investigation of a matter reported by James Onyemenam against Mr. Ogo Whoba in respect of the management of the accounts of Woobs Resources Limited,” the statement read. “After taking her statement, the police requested the MD to sign a ₦5 billion bail bond, which she signed on self-recognizance.”
Fidelity Bank explained that the statement made by its MD, which was covertly recorded and circulated, referenced the signed bail bond—not a financial transaction.
The bank emphasised that the recording was done without her consent and taken out of context to mislead the public.
“This mischievous allegation was presented to the Inspector General of Police in a petition written by Victor Ukutt on behalf of Mr. Whoba,” the bank added. “The IGP commissioned a detailed and independent investigation into the allegation and found same to be baseless.”
The bank reaffirmed that the matter is currently before a competent court and, as such, declined further comments on the substantive legal proceedings.
Fidelity Bank reiterated its commitment to upholding robust corporate governance principles and ethical practices across all its operations.
“As a leading financial institution with a long-standing commitment to strong corporate governance, we remain dedicated to adhering to the rule of law and maintaining the highest ethical standards in all our dealings,” the statement concluded.
The bank’s rebuttal comes amid heightened scrutiny of Nigeria’s banking sector and follows recent developments involving law enforcement investigations into corporate conduct.
