The management of Fidelity Bank Plc on Thursday said the $115 million cash transfer, which led to the arrest of its Managing Director and Chief Executive Officer, Mr. Nnamdi Okonkwo, on Monday and his subsequent interrogation, was duly reported to the appropriate authorities, adding however that it was cooperating with the Economic and Financial Crimes Commission (EFCC) as the investigation progresses.
The bank’s reaction came as the EFCC stepped up its investigation into the huge lodgement involving four oil firm and their directors.
The four oil firms were said to have made the lodgements, which the presidency is bent on recovering.
The EFCC had arrested Fidelity Bank’s chief executive for allegedly receiving $115 million in lodgements from the former Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, and disbursed the funds to politicians in the build up to the 2015 presidential election that was lost by former President Goodluck Jonathan.
“We can confirm that the transactions were duly reported as required by the regulators,” the bank’s management said in a statement, adding that it was cooperating fully with the authorities on the investigation.
The bank’s statement read: “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 and 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.”
Under the Bank and Other Financial Institutions Act (BOFIA) and Money Laundering Act, banks are mandated to report unusual transactions to the EFCC.
The $115 million was said to have been given to Alison-Madueke by the companies, while she was alleged to have contributed another $25.77 million.
However, it was gathered night that Fidelity Bank had refunded N40 million, being the interest on the funds deposited in the bank.
