How N5bn Bond Bail Signed by Fidelity Boss was Confused as Bribe

Fidelity Bank has dismissed reports alleging that its Managing Director (MD) paid N5 billion in bribes to avoid detention by the police.

In a statement released on Monday, the bank explained that the MD was asked to sign a N5 billion bail bond as part of a police investigation into a matter involving the account of a customer, Woobs Resources Limited.

The bank described the reports — particularly a story by Sahara Reporters — as false and mischievous, meant to mislead the public into believing a bribe was paid.

“The police invited the MD during their investigation into a complaint made by James Onyemenam against Mr. Ogo Whoba over the management of Woobs Resources’ account. After taking her statement, the police asked the MD to sign a N5 billion bail bond on her own recognizance.

“It is this bond — not a bribe — that was referenced in a phone conversation with Mr. Ogo Whoba, which was secretly and unlawfully recorded. At no time did the MD pay N5 billion to the Police to avoid detention; signing the bond was simply a standard part of her release conditions.”

The bank also explained that the same false claim had previously been raised in a petition to the Inspector General of Police by Victor Ukutt on behalf of Mr. Whoba. The Inspector General investigated the matter thoroughly and dismissed it as baseless.