How ₦5bn Bond Bail Signed By Fidelity Boss Was Confused As Bribe

Foremost financial institution, Fidelity Bank has dismissed reports alleging that its Managing Director (MD) paid ₦5 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 ₦5 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 ₦5 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 ₦5 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.