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WHY WE DISCONTINUED FRAUD CHARGE AGAINST MD/CEO OF FIDELITY BANK – AGF
The Office of the Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, on Monday clarified its discontinuation of a fraud (criminal) charge against the Managing Director and Chief Executive Officer (MD/CEO) of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe.
The clarification was disclosed in a statement issued by the Special Adviser to the President on Communication and Publicity, Office of the AGF & Minister of Justice, Kamarudeen Ogundele, on June 9, 2025.
The statement was issued in response to the reaction trailing a media report which accused the AGF and the Nigerian government of dropping Dr. Nneka C. Onyeali-Ikpe’s name as a co-defendant in an ongoing criminal case involving an alleged multi-billion-naira fraud.
The case was said to be initially initiated by the Attorney General of the Federation before the Federal High Court, Lagos, against lawyer Victor Ukutt, Whoba Ugwunna Ogo (reportedly at large), Fidelity Bank Plc, and Onyeali-Ikpe, over the alleged unlawful conversion of funds belonging to Woobs Resources Limited to the tune of N19 billion.
The report claimed that in an amended 10-count charge filed on May 5, 2025, the AGF subsequently dropped the name of Dr. Onyeali-Ikpe and replaced it with Safiya Whoba.
AGF Clarifies
Providing clarification on the development, the AGF’s spokesperson stated, “The Attorney General’s decision to discontinue the criminal charge against Dr. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, is a testament to the office’s commitment to upholding justice and fairness.”
He explained that, as the chief law officer of the federation, the AGF has the constitutional power to discontinue prosecution against a defendant where it is deemed necessary to prevent a miscarriage of justice.
According to him, “This decision followed a careful review of the case, which did not connect Dr. Onyeali-Ikpe to the charge, as she was neither the account officer nor the Managing Director of Fidelity Bank when the account used in the alleged scheme of fraud was opened.”
The official stressed that the Attorney General’s decision is guided by the principles of justice, fairness, and the rule of law, and expressed confidence that this decision is in the best interest of justice and the public.
The statement added, however, that the decision to remove the CEO from the case does not exculpate Fidelity Bank from the allegations contained in the charge, which is still pending before the court, but rather demonstrates the Attorney General’s duty to ensure that justice is served.
“We urge the public to allow the legal process to run its course and to refrain from speculation or jumping to conclusions,” the statement partly reads.
The AGF assured that the office will ensure the best interest of justice is served at all times and that all those found wanting, at any time, will face the full weight of the law to serve as a deterrent to others.
