LEAKED: Fidelity Bank MD Allegedly Paid ₦5 Billion to Avoid Arrest in ₦19 Billion Fraud Case

The Managing Director of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, allegedly confessed to paying ₦5 billion to avoid detention by the police amid a multi-billion-naira fraud investigation.

Court documents from Charge No: FHC/L/138C/2025 before the Federal High Court in Lagos reveal that the Federal Republic of Nigeria is prosecuting Victor Ukutt, Fidelity Bank Plc, Dr. Onyeali-Ikpe, and a fugitive, Whoba Ugwunna Ogo, over the alleged fraudulent conversion of ₦19 billion belonging to Woobs Resources Limited.

In an audio conversation obtained by SaharaReporters, Onyeali-Ikpe admitted to a long-time customer, Uba, that she had to secure her release with ₦5 billion after her arrest linked to the fraud probe.

Uba, a Fidelity Bank customer since 2003, claimed that his account was frozen and all contact details deactivated without notice. He reached out to the MD, accusing the bank of unjust treatment.

Responding, Onyeali-Ikpe acknowledged the bank was facing serious legal issues and that staff had been detained. She explained the bank had informed Uba and given him a 14-day window to return to Nigeria, which went unanswered.

“I'm surprised you're saying no one contacted you. We wrote to inform you about the police investigation. I almost got arrested — I had to pay ₦5 billion to bail myself out,” she said.

Although the MD’s name was originally listed as the third defendant in the charge, the Federal Government later dropped the charges against her in an amended 10-count filing submitted in May 2025. Safiya Whoba replaced her on the charge sheet.

The amended suit now lists Victor Ukutt, Fidelity Bank Plc, Whoba Ugwunna Ogo, and Safiya Whoba as the first to fourth defendants.

Fidelity Bank, however, filed a counter-affidavit asserting that the prosecution violated an earlier agreement not to pursue legal action against the bank. The bank argued it had acted on the assurance of the complainant and law enforcement and was now being unfairly targeted.

The affidavit, signed by the bank’s Head of Legal Services, Oluwatodimu Adeyemi, states:

“The complainants had unequivocally agreed not to initiate prosecution, and the bank acted on this promise. Proceeding with charges now is a breach of that agreement.”

In a statement, the Office of the Attorney General clarified that dropping the charges against Onyeali-Ikpe was based on “justice, fairness, and the rule of law,” noting she was neither the MD nor account officer when the implicated account was opened.

However, the AGF emphasized that Fidelity Bank remains a defendant in the criminal case, and the withdrawal of charges against its MD should not be seen as a clearance of the institution.

“The withdrawal of charges against Dr. Onyeali-Ikpe does not exculpate Fidelity Bank from the allegations,” the AGF’s office stated. “This decision underscores the AGF’s responsibility to ensure innocent individuals are not unjustly prosecuted.”