EFCC releases Fidelity Bank's Okonkwo after finding him free of guilt: Plot to takeover bank fails as Okonkwo returns to his position

EFCC releases Fidelity Bank's Okonkwo after finding him free of guilt: Plot to takeover bank fails as Okonkwo returns to his position

Having been exposed by The Biafran of their plot to takeover Fidelity, one of the prominent Igbo banks operating in Nigeria, the Economic and Financial Crimes Commission (EFCC) has quietly released Nnamdi Okonkwo, without charging him for any crime. Their plot was to criminalise him and install a hausa-Fulani as the CEO and Managing Director of the bank.

This was already in place with the swift approval of Alhaji Mohammed Lawal Balarabe as the CEO and MD of Fidelity, even without Okonkwo being convicted of any criminal act. The Biafran responded to this in an article that went viral, thereby stopping short the plot.

Emasculation of Biafran businesses: Hausa-Fulani goes after Igbo banks as Mohammed Balarabe takes over Fidelity Bank management

Normalcy today returned to Fidelity Bank Plc with the arrival Okonkwo to his position after about a two-week absence owing to an ordeal with the EFCC.

With this development Alhaji Mohammed Lawal Balarabe, former Acting MD  was demoted to the position of Deputy Managing Director.




Else, Okonkwo, who all the while had the full backing of the bank, which maintained that there was nothing untoward in the transaction for which he was being questioned, also dispelled allegations of any wrongdoing, before the EFCC operatives that questioned him for the period.

The EFCC, had questioned the bank boss and other officials of the bank on all they knew about an alleged lodgement of $115 million (N23 billion) Alison-Madueke, for use to prosecute the failed re-election bid of former President Goodluck Jonathan.

Fidelity Bank, which had insisted that it did nothing wrong but only carried out normal banking transactions for a customer.