RE: Clarification of N5Billion Bail Bond Signed by Fidelity Bank MD

Our attention has been drawn to a publication on Sahara Reporters website titled, “Fidelity Bank MD Onyeali-Ikpe Confesses to Paying ₦5Billion To Avoid Police Detention Amid Over ₦19Billion Fraud Probe”.

We would like to categorically state this story is patently false and has been maliciously written to deceive the public into believing that a N5billion bail bond was payment to the Police to avoid detention.

While we are unable to comment on the substantive matter as it is before a competent court, we wish to state emphatically that there is no truth in the claims of the story.

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. After taking her statement, the police requested the MD to sign a N5 billion bail bond, which she signed on self-recognizance.

It is the N5billion bail bond that was signed by the MD that was referenced in her conversation with Mr. Ogo Whoba which was recorded without her consent. At no time did the MD pay N5bn to the Police to avoid detention but rather signed a bond as part of her bail requirements.

This mischievous allegation was presented to the Inspector General of Police (IGP) in a petition written by Victor Ukutt for himself and on behalf of Mr. Whoba. The IGP commissioned a detailed and independent investigation into the allegation and found same to be baseless.

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.