The Economic and Financial Crimes Commission (EFCC) has released the Managing Director of Fidelity Bank Plc, Mr. Nnamdi Okonkwo...
Okonkwo got enmeshed in an illegal transaction having received $115 million in deposits to the bank from former Petroleum Resources Minister, Diezani Allison-Madueke, and allegedly helped to disburse money from this to electoral officials two days before the last general elections.
He was however accused by the commission for failing to report the matter to the Nigerian Financial Intelligence Unit, NFIU, as required by the law.
The management of the bank last week in a swift reaction said the transactions were duly reported as as against the claim of EFCC.
Okonkwo was reportedly released on Thursday evening.
The bank had on Tuesday named Alhaji Mohammed Lawal Balarabe as acting Managing Director subject to regulatory approval. Balarabe was until his appointment the Executive Director, North, Fidelity Bank.
It was however not certain as at Thursday night whether Okonkwo will return to his position as Managing Director.
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