Fidelity Bank has dismissed reports alleging that its Managing Director and CEO, Dr. Nneka Onyeali-Ikpe, paid a N5 billion bribe to avoid police detention.

In an official statement, the bank clarified that Dr. Onyeali-Ikpe was asked to sign a N5 billion bail bond in connection with an ongoing police investigation into the account of a customer, Woobs Resources Limited, and emphasized that no bribe was paid.

The bank, in its statement, dismissed the reports—particularly the one by Sahara Reporters—as false and malicious, aimed at misleading the public.

Fidelity Bank clarified that its Managing Director was invited by the police to give a statement concerning a complaint lodged by James Onyemenam against Mr. Ogo Whoba over the management of Woobs Resources’ account.

The bank noted that after giving her statement, the police requested Dr. Onyeali-Ikpe to sign a N5 billion bail bond on her recognizance — a procedure that was erroneously reported as a bribe.

The bank stressed that at no time did its Managing Director pay N5 billion to the police to avoid detention, clarifying that the bond was merely a routine condition for her release.

The bank said, “The police invited the MD during their investigation into a complaint made by James Onyemenam against Mr. Ogo Whoba over the management of Woobs Resources’ account. After taking her statement, the police asked the MD to sign a N5 billion bail bond on her own recognizance.

“It is this bond — not a bribe — that was referenced in a phone conversation with Mr. Ogo Whoba, which was secretly and unlawfully recorded. At no time did the MD pay N5 billion to the Police to avoid detention; signing the bond was simply a standard part of her release conditions.”

The bank further stated that a similar false allegation had earlier been made in a petition to the Inspector General of Police by Victor Ukutt on behalf of Mr. Whoba, but the police thoroughly investigated the matter and dismissed it as baseless.

On June 9, 2025, the Office of the Attorney General of the Federation (AGF) and Minister of Justice announced it had discontinued the fraud charge against Fidelity Bank Plc’s MD/CEO, Dr. Nneka Onyeali-Ikpe.

According to a statement by the AGF’s Special Adviser on Communication and Publicity, Kamarudeen Ogundele, the decision was made in line with the AGF’s constitutional authority to withdraw criminal charges when necessary to prevent a miscarriage of justice.

He explained that the decision followed a careful review of the case, which revealed no direct link between Dr. Onyeali-Ikpe and the alleged fraud.

She was neither the account officer nor the Managing Director of Fidelity Bank at the time the account in question was opened.