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Home Business & Finance

AGF drops charges against Fidelity Bank CEO over fraud case

Eriki Joan UgunushebyEriki Joan Ugunushe
June 9, 2025
in Business & Finance
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AGF drops charges against Fidelity Bank CEO over fraud case
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The Attorney General of the Federation, Lateef Fagbemi (SAN), has dropped the criminal charges filed against Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer of Fidelity Bank Plc. This move, according to his office, was made to uphold justice and prevent any miscarriage of the law.

In a statement issued on Monday by the Special Adviser to the President on Communication and Publicity in the AGF’s office, Kamarudeen Ogundele, the Attorney General acted within his constitutional powers by entering a nolle prosequi in the case.

Table of Contents

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  • Onyeali-Ikpe was not MD when the alleged fraud occurred
  • Fidelity Bank still faces legal action
  • AGF drops charges against Fidelity Bank CEO

Onyeali-Ikpe was not MD when the alleged fraud occurred

The AGF’s office explained that the decision came after a thorough review of the facts. It revealed that Nneka Onyeali-Ikpe was neither the Managing Director nor the account officer when the controversial account linked to the fraud was opened.

AGF drops charges against Fidelity Bank CEO over fraud case

“The case did not connect Dr. Onyeali-Ikpe to the alleged fraud. She was not in the position of authority in the bank at the time,” the statement read.

The AGF maintained that his actions were based on fairness and a responsibility to ensure that innocent individuals are not wrongfully prosecuted.

Fidelity Bank still faces legal action

While the charges against Onyeali-Ikpe have been dropped, the statement made it clear that Fidelity Bank is not yet off the hook. The case against the bank itself is still ongoing in court.

“This decision does not exculpate Fidelity Bank from the allegations. The institution still has a case to answer,” the AGF’s office clarified.

The statement called on the public to be patient and allow the legal process to take its course, warning against jumping to conclusions.

AGF drops charges against Fidelity Bank CEO

The decision to drop charges against the Fidelity Bank CEO has stirred attention, but the Attorney General insists it is based on law and fairness. He stressed that justice will still be pursued where needed, and Fidelity Bank remains subject to judicial proceedings. The headline AGF drops charges against Fidelity Bank CEO is central to the case, and it defines the introduction, body, and final resolution of the story.

Tags: agfceofederal characterFidelity BankFraud caseNews
Eriki Joan Ugunushe

Eriki Joan Ugunushe

Eriki Joan Ugunushe is a dedicated news writer and an aspiring entertainment and media lawyer. Graduated from the University of Ibadan, she combines her legal acumen with a passion for writing to craft compelling news stories.Eriki's commitment to effective communication shines through her participation in the Jobberman soft skills training, where she honed her abilities to overcome communication barriers, embrace the email culture, and provide and receive constructive feedback. She has also nurtured her creativity skills, understanding how creativity fosters critical thinking—a valuable asset in both writing and law.

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