The Executive Director, North, of Fidelity Bank Plc, Mohammed Balarabe, has been named as the Acting Managing Director/Chief Executive of the bank with immediate effect, subject to regulatory approval.
A statement was released on Monday, May 2, indicating the decision made by the bank’s Board of Directors.
Balarabe’s appointment is as a result of the arrest of the Managing Director/Chief Executive Officer, Nnamdi Okonkwo by the Economic and Financial Crimes Commission alongside some officials of the bank.
Okonkwo and the Fidelity Bank officials were alleged to have received $115m (N23bn) from a former Minister of Petroleum Resources, Diezani Alison-Madueke, to prosecute the re-election of former President Goodluck Jonathan.
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