Fidelity Bank Fires Okonkwo, Appoints Acting Managing DirectorBanking & Finance, Business, Latest News Tuesday, May 3rd, 2016
BALTIMORE, MD (AFRICAN EXAMINER) – The Board of Directors of Fidelity Bank has appointed Alhaji Mohammed Balarabe as the Acting Managing Director of the bank.
Until his appointment, Alhaji Balarabe was the Executive Director, North.
A statement issued on Monday by the bank said the appointment is with immediate effect but subject to regulatory approval.
Though the bank did not disclose the reason for kicking out its Managing Director, Mr. Nnamdi Okonkwo but African Examiner gathered that his sack may be connected to recent arrest and investigation by the Economic and Financial Crimes’ Commission, (EFCC).
Recently, Fidelity Bank came under fire following the arrest and detention of Mr. Okonkwo by EFCC over $115 million he collected from Nigeria’s Ex-Oil Minister, Diezani Alison-Madueke but failed to report it to the Nigeria Financial Intelligence Unit (NFIU.)
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