How N5bn Bond Bail Signed By Fidelity Boss Was Confused As Bribe
LAGOS JUNE 18TH (NEWSRANGERS)-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 a 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.
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Posted by News Rangers
on Jun 18 2025. Filed under Business, National.
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