trending Market Intelligence /marketintelligence/en/news-insights/trending/lcGYKfwIZeW5BZ4PfXxr_w2 content esgSubNav
In This List

Report: Nigeria's Fidelity Bank CEO arrested

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


Report: Nigeria's Fidelity Bank CEO arrested

Nigeria's Economic and Financial Crimes Commission holdsFidelity Bank Plc'smanaging director and CEO, Nnamdi Okonkwo, in custody, Reuters reported April28, citing EFCC spokesman Wilson Uwujaren.

According to a This Day report on April 29, the commissionarrested Okonkwo for allegedly receiving $115 million from former Minister ofPetroleum Resources, Diezani Alison-Madueke, and paying it out to politiciansin the build up to the 2015 presidential election.

Fidelity Bank confirmed that thematter is being investigated by the commission, adding that the bank iscooperating with the authority, the two news sources reported.