Fidelity Bank Debunks Allegation of ₦5bn Bribe, Clarifies Bail Bond Misinterpretation
Lagos, Nigeria – June 17, 2025
Fidelity Bank Plc has strongly refuted media reports suggesting that its Managing Director (MD) paid a ₦5 billion bribe to evade police detention, describing the claims as misleading and deliberately distorted.
In an official statement issued on Monday, the bank clarified that the MD merely signed a ₦5 billion bail bond as part of an ongoing police investigation involving a customer account linked to Woobs Resources Limited — not as a bribe, as alleged in a report published by Sahara Reporters.
“The police invited our MD in connection with a complaint lodged by Mr. James Onyemenam against Mr. Ogo Whoba regarding the handling of Woobs Resources’ account,” the statement read. “After providing her statement, she was requested to sign a ₦5 billion bail bond on her own recognizance. This was part of standard procedure and not an indication of any financial settlement or bribe.”
The bank emphasized that the figure mentioned during a phone call between the MD and Mr. Ogo Whoba — which was secretly and unlawfully recorded — referred strictly to the bond condition and had been misrepresented in media reports.
“At no time did the MD pay ₦5 billion to any individual or entity to avoid detention,” the bank stressed.
Fidelity Bank also noted that a similar claim had previously been made in a petition to the Inspector General of Police by legal counsel Victor Ukutt, representing Mr. Whoba. Following a comprehensive investigation, the Inspector General’s office dismissed the allegations as baseless.
The bank reaffirmed its commitment to transparency and regulatory compliance, urging the public and media to disregard the false narrative.
