All transactions with Diezani were duly reported – Fidelity Bank

Fidelity Bank said it did not break any law in the transactions it carried out for a former minister of petroleum resources, Diezani Alison-Madueke.

It was reported that It's managing director Nwankwo and Martins Izuogbe, the bank’s head of operations, arrested by operatives of 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.”