Fidelity Bank denies the accusations of trafficking in people on CEO, Onyeali-Ikpe

Fidelity Bank PLC firmly rejected the accusations of internal trafficking and financial irregularities involving the Director of Executive and Chief Executive Officer, Nneka Onyeali-Ikpe.

The bank described the claim, which circulated earlier this week, as “baseless, evil, and deliberately misleading.”

The accusation, which was accused of onyeali-Ikpe, bought 18 million bank shares using special information and misused funds, was widely distributed in media reports that Fidelity now said that it was made with the intention to damage the credibility of his institution and leadership.

In a statement released on Friday, Bank Corporate Secretary, Ezinwa Unuigboje, emphasized that the transaction was executed in full compliance with regulation provisions.

“The purchase of shares is funded from the CEO’s personal resources and is carried out during the open trading window, in line with the Nigeria Exchange (NGX) registration regulations and the Guidelines for the Securities and Exchange Commission (SEC),” the statement said.

Fidelity Bank clarified that purchases occurred on May 19, 2025-Yah after the bank issued an unaudited Q1 financial results on April 30. According to the NGX regulatory framework, insider people can legally trade stocks 24 hours after the disclosure, provided there is no information that is sensitive to other prices that are postponed.

Also read: 20 Arrested in connection with the alleged UTME hacking scandal

To eliminate public doubts, banks revealed that they invited NGX to independently review transactions. In response, the exchange issued a letter on May 22 which confirmed that the transaction took place in a legally permitted period and that it did not know the existence of material information that was not disclosed that would limit the activities of inside people.

“Confirmation by NGX strengthens our position and must convince investors, regulators, and the general public about our compliance with ethical and governance standards,” Unuigboje added.

In parallel disclosure, the bank confirmed that Onyeali-Ikpe had obtained an additional two million shares on May 22 at N18.60 each, so that the total ownership of its shares in the bank became more than 114 million units, up from 94.6 million in December 2024.

This development came in the midst of broader supervision of the financial position of Fidelity Bank after a separate and not verified report that claimed banks to face bankruptcy over the Supreme Court’s decision. The bank has rejected the bankruptcy claim directly, emphasizing the strong capital base and its capacity to meet all legal and financial obligations.

“As one of the strongest and most capital financial institutions in Nigeria, we are firm in our commitment to transparency, good governance, and investor confidence,” the statement concluded.

Fidelity Bank has threatened legal action against those who are responsible for what they described as “sponsored attacks” intended to tarnish their public image.

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