Encomium
The management of Fidelity Bank Plc has announced the appointment of Mohammed Balarabe as interim Managing Director and Chief Executive Officer, to replace its detained CEO, Nnamdi Okonkwo.
The development comes in the wake of an allegation that the embattled Okonkwo received over $115 million from the former Minister of Petroleum Resources, Diezani Alison-Madueke, and three others, but failed to report it to the Economic and Financial Crimes Commission, EFCC. The monies were allegedly used to bribe INEC officials in the run up to the 2015 presidential elections.
However, Fidelity is reported to have returned about N49.7 million to the government as the profit it made from the transaction.
Fidelity Bank and Infidelity.
— Drink Water (@OSCARanking) May 3, 2016
Look at how Fidelity Bank was used to distribute money like ofada rice. Pls, come here and shout Gej again. Awon omo onijekuje.
— Otunba Asiwaju (@AsiwajuOladimej) May 3, 2016
May you never receive any blessing that is not of God. Fidelity Bank sacks MD, see how greed ruined a man at the top of his career?
— The Godfather (@Ayourb) May 3, 2016
With the replacement of the MD of Fidelity Bank. I hope we can now agree that the former petroleum minister mismanaged funds?
— Cinderella Man (@Osi_Suave) May 3, 2016
Fidelity Bank quickly named a new Acting MD sharp sharp ….. Stain urself NOT our institution …. As e suppose be
— Mr. JAG (@jag_bros) May 3, 2016
I understand Fidelity Bank has named a new MD. Allowing the previous one time to wax his album in conjunction with the EFCC.
— JJ. Omojuwa (@Omojuwa) May 3, 2016
Not only Fidelity bank, the banking sector aids fraud and money laundering! The institution is full of fraud, deceit and lies!
— Taha (@geotaha) May 3, 2016
If you close fidelity bank, you will destroy investors confidence & do you realise how many jobs would be lost? https://t.co/5Hl3oiPLoZ
— The Godfather (@Ayourb) May 3, 2016
How many staff of Fidelity Bank will accompany their MD to EFCC ??? #AfonjaStyle #NassStyle
— Mr. JAG (@jag_bros) May 3, 2016
