The management of Fidelity Bank Plc have appointed an interim Managing
Director and Chief Executive Officer, Mohammed Balarabe to replace its
embattled CEO, Nnamdi Okonkwo, who is still being detained by the
Economic and Financial Crimes Commission, EFCC for allegedly
fraudulently receiving $115 million (23bn) from former Minister of
Petroleum Diezani Alison-Madueke.
According to EFCC investigations, the money was allegedly used to bribe INEC officials ahead of the 2015 general election.
In a statement released by the bank yesterday, the board said the
decision followed “the absence of the substantive Managing
Director/Chief Executive Officer”.
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