Fidelity Bank Debunks Claim MD Paid N5B Bribe For Bail, Reaffirms Ethical Standards

Fidelity Bank has firmly debunked “false claims” suggesting that its Managing Director, Nneka Onyeali-Ikpe, paid a ₦5 billion sum to avoid police detention.

In an official statement issued on June 16, 2025, the bank clarified that the ₦5 billion referenced in recent discussions was a bail bond, not a cash payment.

According to the statement, the MD was invited by the police in connection with an investigation into a matter involving Woobs Resources Limited, which was reported by James Onyemenam against Mr. Ogo Whoba.

After giving her statement during the inquiry, the police requested that she sign a ₦5 billion bail bond, which she did on self-recognizance.

The bank emphasized that this bond was mischaracterized in a conversation that was secretly recorded without the MD’s consent.

“At no time did the MD pay ₦5 billion to the Police to avoid detention,” the statement read. “Rather, she signed a bond as part of her bail conditions.”

Fidelity Bank also noted that the misleading allegation was submitted to the Inspector General of Police (IGP) in a petition by Victor Ukutt, acting for himself and Mr. Whoba. A thorough and independent investigation by the IGP found the claims to be entirely baseless.

Reaffirming its values, Fidelity Bank reiterated its longstanding commitment to the rule of law and high ethical standards, underpinned by strong corporate governance.

“We remain dedicated to maintaining integrity in all our dealings as a leading financial institution,” the statement concluded.