In a dramatic development that has sent shockwaves through Nigeria’s financial sector, Nneka Onyeali-Ikpe, the Managing Director of Fidelity Bank Plc, has allegedly confessed to making a ₦5 billion payment to avoid police detention in connection with an ongoing fraud investigation involving over ₦19 billion.
Sources close to the investigation revealed that the confession was made during an interrogation by anti-graft authorities probing a series of suspicious transactions linked to accounts under the bank’s management. The probe centers on allegations of corporate fraud, misappropriation of funds, and regulatory breaches reportedly involving senior banking officials.
According to preliminary reports, the ₦5 billion was allegedly paid through intermediaries as part of an effort to stave off immediate arrest and detention pending further investigation. While details remain sketchy, the sum is believed to have been disbursed under immense pressure following a formal invitation from the Economic and Financial Crimes Commission (EFCC).
As of press time, neither Fidelity Bank nor Dr. Onyeali-Ikpe has issued an official statement confirming or denying the alleged confession. Repeated attempts to reach the bank’s corporate communications team for comment have so far been unsuccessful.
In response to the unfolding scandal, financial analysts have raised concerns over regulatory oversight and the long-term impact on Fidelity Bank’s corporate governance and market reputation. Shareholders and stakeholders are closely monitoring developments, with calls growing for transparency and accountability at the highest levels of the institution.