Transactions with Diezani ‘were duly reported’ – Fidelity Bank

April 29, 2016

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Despite the fact that the Managing Director of Fidelity Bank, Nnamdi Nwankwo, is being interrogated by the Economic and Financial Crimes Commission, the commercial bank has said no law was broken in the transactions it carried out for a former minister of petroleum resources, Diezani Alison-Madueke.
It was reported earlier today that Nwankwo and Martins Izuogbe, the bank’s head of operations, were in the detention of the EFCC over their receipt of $115 million from Diezani.
The money was purportedly distributed to officials of the Independent National Electoral Commission in the 36 states prior to the 2015 elections.

Reacting to the reports, the bank says all the transactions carried out with Diezani were ‘duly reported’, while also describing them as a ‘normal course of business’.

“Our attention has been drawn to reports in the media on investigations into transactions undertaken by the Bank in the normal course of business in 2015.”
“The transactions are now the subject matter of investigations by the Economic & Financial Crimes Commission (EFCC).”
“We can confirm that the transactions were duly reported as required by the regulators and the Bank is cooperating fully with the authorities on the investigation.”
“We assure our numerous stakeholders, including our customers that we are working assiduously towards a quick resolution of the issues.”