Fidelity Bank Denies Allegation of N5Billion Police Payoff by MD Amid Fraud Probe

Fidelity Bank Denies Allegation of N5Billion Police Payoff by MD Amid Fraud Probe

Lagos, Nigeria – June 16, 2025 — Fidelity Bank Plc has refuted reports circulating in the media alleging that its Managing Director, Mrs. Nneka Onyeali-Ikpe, paid a N5 billion bribe to the Nigeria Police to avoid detention during an ongoing fraud investigation.

The bank was reacting to a report published by Sahara Reporters titled “Fidelity Bank MD Onyeali-Ikpe Confesses to Paying ₦5Billion To Avoid Police Detention Amid Over ₦19Billion Fraud Probe.” The publication alleged that the MD confessed to making the payment to evade arrest in connection with a ₦19 billion fraud probe.

In a strongly worded response, Fidelity Bank described the story as “patently false and maliciously written to mislead the public.” The institution clarified that the N5 billion referenced in the report was not a payment, but rather a bail bond signed by the MD on self-recognizance as part of standard police procedure.

According to the bank, Mrs. Onyeali-Ikpe had been invited by the police as part of their investigation into a matter involving the management of the accounts of Woobs Resources Limited—a dispute reported by one James Onyemenam against Mr. Ogo Whoba. After giving her statement, the police requested that she sign a N5 billion bail bond.

The bank further clarified that this bail bond—referenced during a conversation between Mrs. Onyeali-Ikpe and Mr. Whoba, which was allegedly recorded without her consent—was misrepresented as a cash payment to the police.

“It is important to state that at no point did the MD pay N5 billion to the police,” the bank stated. “The suggestion that this was a bribe or payoff is completely unfounded and deliberately misleading.”

Fidelity Bank also disclosed that the Inspector General of Police (IGP) ordered an independent investigation following a petition submitted by Victor Ukutt on behalf of Mr. Whoba. The investigation reportedly found the bribery claim to be baseless.

Reaffirming its commitment to ethical practices, the bank stated: “As a leading financial institution with a long-standing commitment to strong corporate governance, we remain dedicated to the rule of law and the highest ethical standards in all our operations.”