LAGOS – Apparently embarrassed by the $115 million alleged scam involving its Managing Director/Chief Executive Officer, Nnamdi Okonkwo, Fidelity Bank has announced the appointment of Mohammed Lawal Balarabe as its Acting MD/CEO.
Embattled Okonkwo, is accused of being involved in a deposit scam with Mrs. Deziani Alison-Madueke, a former Minister of Petroleum Resources under former President Goodluck Jonathan.
He has since been arrested and remains in the custody of the Economic and Financial Crimes Commission, EFCC.
Okonkwo, was said to have handled $26 million on behalf of Mrs. Madueke, aside the $115 million dollars said to have been disbursed ahead of the 2015 general elections.
“In the absence of the Managing Director/Chief Executive, Mr. Nnamdi Okonkwo, the Board of Directors of Fidelity Bank Plc has appointed the Executive Director, North, Alhaji Mohammed Lawal Balarabe, as the Acting Managing Director/Chief Executive Officer of Fidelity Bank Plc. with immediate effect subject to regulatory approval.
“The Bank reassures all its stakeholders including over 400,000 shareholders of its continued seamless services,” management of Fidelity Bank announced on Monday night.
Until his appointment, Balarabe was the Executive Director, North of Fidelity Bank Plc.
