By: Our Correspondent
The Board of Directors of Fidelity Bank Plc has approved the appointment of an Acting Managing Director/Chief Executive for the bank. He is the Executive Director, North, Alhaji Mohammed Lawal Balarabe.
The decision we gathered became necessary as a result of the continued detention of its Managing Director/Chief Executive, Mr. Nnamdi Okonkwo, by the Economic and Financial Crimes Commission (EFCC) as part of investigations into millions of dollars received and disbursed by the bank on behalf of Mrs. Deziani Alison-Madueke, the erstwhile Minister of Petroleum Resources.
The bank in a statement said Balarabe’s appointment is effective immediately “Subject to regulatory approval.”
“The Bank reassures all its stakeholders including over 400,000 shareholders of its continued seamless services,” the statement added.
Fidelity had in a statement last week said it duly reported the transactions being investigated by the EFCC as required by law.
