EXCLUSIVE: Fidelity Bank MD Cliams The N5Billion Payment was Bail Bond, Denies Bribe Allegations

 

Source from SaharaReporters has they obtained an exclusive second statement from Dr. Nneka Onyeali-Ikpe, Managing Director of Fidelity Bank Plc, submitted to the Nigeria Police Force, in which she refutes claims that a N5 billion payment was a bribe to AIG Abdul Yari.  

Background of the Case

The Nigerian government recently dropped Dr. Onyeali-Ikpe from a high-profile fraud case involving alleged misappropriation of funds belonging to Woobs Resources Limited, a real estate firm. The case, filed by the Attorney General of the Federation (AGF), initially named her as the third defendant alongside lawyer Victor Ukutt, Fidelity Bank, and fugitive Whoba Ugwunna Ogo.  

The charges allege that between 2011 and 2023, the defendants conspired to fraudulently convert about ₦19 billion from Woobs Resources’ Fidelity Bank account. A separate petition accused them of abuse of office and police power.  

However, in an amended charge filed on May 5, 2025, the Federal Government removed Onyeali-Ikpe’s name, replacing her with Safiya Whoba. The AGF stated that a case review found no direct link between her and the alleged fraud.  

N5 Billion Payment Controversy

Earlier reports claimed that Onyeali-Ikpe admitted to paying N5 billion to secure her release from police custody. In a leaked conversation, she allegedly told a customer, "Uba," that the payment was for bail.  

However, in her latest statement, she clarified that the N5 billion was a bail bond on personal recognition, not a bribe. She explained that the term "settlement" in the transaction narration was due to limited space in the bank’s system and did not imply any wrongdoing.  

“The N5 billion being mentioned is a bail bond on personal recognition to the Nigerian Police,” she stated. "The narration was intended to read ‘pending settlement,’ but the system’s character limit shortened it.”

Transfer of N692 Million to Suspense Account

Onyeali-Ikpe also addressed allegations that Fidelity Bank unlawfully transferred ₦692 million from Woobs Resources’ account. She stated that the move was a management decision to safeguard the funds while determining the company’s true ownership.  

“The money was placed in a suspense account for safekeeping pending resolution,” she said, adding that the bank would comply with court orders to return the funds. “No part of the money was diverted to AIG Yari or any individual.”

The Fidelity Bank MD maintains her innocence, dismissing bribe claims as misrepresentations. The bank has pledged to cooperate with authorities and provide proof of compliance with court directives.