In the absence of its Managing Director/Chief Executive Officer, Mr. Nnamdi Okonkwo, the Board of Directors of Fidelity Bank Plc has appointed Alhaji Mohammed Lawal Balarabe, Executive Director North as Acting Managing Director/Chief Executive of the bank with immediate effect subject to regulatory approval.
The appointment was announced on Monday by the bank in a terse press statement.
The bank reassures all its stakeholders including over 400,000 shareholders and 3.4 million customers of its continued seamless services.
I would be recalled that Nwankwo, and Mr. Martins Izuogbe, the bank’s Head of Operations, are being held by the EFCC for allegedly receiving $115 million or N23.3 billion from former Minister of Petroleum Resources, (Mrs) Diezani Alison-Madueke.
The money was said to have been distributed to officials of the Independent National Electoral Commission (INEC) ahead of the 2015 elections.
However, the bank had issued a statement maintaining that the transactions were “duly” reported as required by regulators.
The short statement posted on Nigerian Stock Exchange (NSE) earlier stated: “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 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.”
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