News
EXCLUSIVE: Fidelity Bank MD Onyeali-Ikpe Tells Police N5Billion ‘Settlement’ Narration In Statement Was Misrepresented As Bribe To AIG Abdul Yari
SaharaReporters had earlier reported that the Nigerian government recently withdrew Onyeali-Ikpe’s name from an ongoing criminal case involving an alleged multi-billion-naira fraud.
SaharaReporters has exclusively obtained the second statement submitted by the Managing Director of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, to the Nigeria Police Force.
Her first statement to the police was written on April 16, 2024.

SaharaReporters had earlier reported that the Nigerian government recently withdrew Onyeali-Ikpe’s name from an ongoing criminal case involving an alleged multi-billion-naira fraud.
The case, initiated by the Attorney General of the Federation (AGF), targets lawyer Victor Ukutt; Whoba Ugwunna Ogo (who is reportedly at large); Fidelity Bank Plc; and previously, Dr. Onyeali-Ikpe, over the alleged unlawful conversion of funds belonging to Woobs Resources Limited.
Woobs Resources Limited is a real estate development and facility management company.
Petition And Charges
Specifically, it alleged that the sum of N692,122,000 was stolen from the account of Woobs Resources Limited by AIG Lafia and one James Uchechukwu Onyemenam.
One of the charges alleges that Victor Ukutt, Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe, and Whoba Ugwunna Ogo (now at large) conspired between 2011 and 2023 in Lagos to fraudulently convert about ₦19 billion belonging to Woobs Resources Limited, knowing the funds were proceeds of theft or fraud, from the company’s account at Fidelity Bank.
The petition, dated April 30, 2024, was sent by General Counsel Victor Ukutt, Esq., of Victor Ukutt & Co. Legal Practitioners, and received by the Inspector General of Police on May 2, 2024.
The petition also accused the suspects and officers of the Force Intelligence Bureau (FIB) of abuse of office and police power.
Dr. Onyeali-Ikpe was initially listed as the third defendant in Charge No: FHC/L/138C/2025. Filed in February 2025, the case names the Federal Republic of Nigeria as the complainant, with Victor Ukutt, Fidelity Bank Plc, and Whoba Ugwunna Ogo as the first, second, and fourth defendants, respectively.
However, in an amended 10-count charge filed on May 5, 2025, the Federal Government dropped Onyeali-Ikpe’s name from the list of defendants and replaced her with Safiya Whoba.
The AGF Office has denied the allegation, saying the justice minister exercised his constitutional powers to enter a nolle prosequi—formally withdrawing the prosecution—after a comprehensive review of the case found no direct link between Dr. Onyeali-Ikpe and the alleged fraudulent account.
SaharaReporters also recently reported that Onyeali-Ikpe had confessed to paying N5 billion to secure her release from police custody amid an ongoing multi-billion naira fraud case.
In a conversation exclusively obtained by SaharaReporters, Dr. Onyeali-Ikpe told a long-standing bank customer, identified only as Uba, that she paid N5 billion to bail herself after being arrested by the Nigerian Police in connection with the case.
However, in a recent statement, she denied that the N5 billion was a bribe, saying it was a bail bond paid to the police.

Statement On Alleged N5 Billion Bribe
In her second statement to the police obtained by SaharaReporters, Onyeali-Ikpe addressed allegations that she paid ₦5 billion as a bribe to AIG Yari to secure her release from police custody.
She addressed concerns about the use of the term “settlement” in the narration of the ₦5 billion bail bond transaction. She explained that referencing the payment as a settlement was not intended to imply that it was a bribe or payoff, but rather arose due to limitations in the narration space available in the bank’s system.
Dr. Onyeali-Ikpe described the interpretation of the term as a bribe or improper payment as a misrepresentation, clarifying that the ₦5 billion referenced was a bail bond on personal recognition to the Nigeria Police, and not a payment to any individual, including AIG Abdul Yari.
She described the claim as a misrepresentation, stating that the ₦5 billion was a bail bond on personal recognition and not a bribe.
“On the payment of the N5 billion to AIG (Abdul) Yari as bail is a misrepresentation. The N5 billion being mentioned is a bail bond on personal recognition to the Nigerian Police,” she wrote.
“With regards to the narration of settlement in the statement, reference was to be narrated as ‘pending settlement’ but for limited narration space on the system.”
She further explained that the controversial transfer of ₦692 million from Woobs Resources Limited’s account to a suspense account was a management decision aimed at safeguarding the funds pending a determination of the company’s true ownership.
She insisted that no part of the money was diverted to AIG Yari or any individual, as alleged in the petition against her and the bank.
Dr. Onyeali-Ikpe assured that Fidelity Bank would comply with court orders and return the funds to Woobs Resources Limited’s account, with proof of compliance to be provided to the police.
She wrote, “In addition to my statement of 16th April 2024, I wish to respond to the petition by Victor Ukutt Esq on behalf of Mr Whoba Ogo of Woobs Resources Limited on allegation of (1) Deactivation of telephone numbers and email address of Woobs Resources Limited (2) Transfer of the sum of N692,122,000 out of the company’s account number, 40100201772 (3) Allegation of payment of five billion Naira for bail.
“In response to No. 1, this was done to secure and restrict information about activities in the account because of the information available.
“Transfer of N692,122,000 out of the account, this was also done to secure the fund while the real ownership of the (account) company was determined. The fund was moved into a suspense account sundry for safe custody account No. 0162361000 on 24th April 2024.
“It was a decision taken by the management due to the antecedent of the accounts for safe keeping pending determination of real ownership of the company. The decision to move the money to suspense account was a management decision without a court order to that effect.
“However, the said fund will be moved immediately back to Woobs Resources Ltd account No 4010020172 in compliance with the court order. Evidence of the compliance will be forwarded to the police. It is important to state that no monies was (sic) moved from Woobs Resources accounts to Mr James Onyemenam or AIG Abdul Yari as alleged by the petitioner.”
“On the issue of the sundry suspense account being opened specifically for this transaction, this is in line with banking,” she added.
-Sahara
News
Fidelity Bank Enhances Maternal and Child Healthcare Delivery at ESUTH
Fidelity Bank Plc has brought relief to indigent patients at the Enugu State University Teaching Hospital (ESUTH) Parklane, by offsetting medical bills and providing financial support to children battling chronic health conditions alongside donations of ante-natal kits to pregnant women.
The intervention, which was carried out under the bank’s Corporate Social Responsibility (CSR) initiative known as Fidelity Helping Hands Programme (FHHP), was funded and executed by newly inducted employees of the bank, the Optimizers Inductees Class, as their community impact project, with matching financial support from the bank.
Commenting on the outreach, Divisional Head, Brand and Communications Division, Fidelity Bank Plc, Dr Meksley Nwagboh, highlighted that the initiative underscores the bank’s commitment to improving lives through targeted social interventions across its four CSR pillars.
“This project reflects the spirit of who we are as a bank. Beyond providing financial services, we are committed to touching lives within the communities where we operate. Today, we are donating ante-natal kits to pregnant women and also supporting indigent patients who have remained in the hospital due to unpaid bills. Some of the children also require long-term medical care, so we have given additional financial support to aid their continued treatment,” Dr Nwagboh said.
Whilst wishing the beneficiaries quick recovery and good health, Nwagboh described the intervention as both significant and timely, enabling many families to reunite and celebrate the festive season without the burden of outstanding hospital debts.
Receiving the donation, the Chief Matron of the Children’s Ward, Esther Nnaji, commended Fidelity Bank for the timely intervention, describing it as a lifeline for families grappling with rising healthcare costs.
“There are so many families here in desperate need. Some of the children are battling cancer, sickle cell disease and other chronic conditions. Fidelity Bank’s support will go a long way in relieving their pain. Because of what you have done, some of these children will now be able to see their siblings again,” she said.
Several beneficiaries expressed deep gratitude to Fidelity Bank for easing their financial burdens. Mrs. Adaeze Ilo, whose baby’s bill was cleared, said the support came at a moment of despair.
“After spending months in the hospital, we had no idea how to raise the money,” she said. “Fidelity Bank came through for us when we needed it the most. We are deeply grateful.”
Another relieved parent, Jane Anthony, whose son’s bill was cleared, said her family had already accepted that they would spend Christmas in the hospital.
“God used Fidelity Bank to send us home to enjoy Christmas. My heart is full.” she said.
The recent outreach to Enugu State University Teaching Hospital further highlights Fidelity Bank’s continued commitment to supporting vulnerable groups and strengthening community well-being across Nigeria through community-driven CSR efforts.
Ranked among the best banks in Nigeria, Fidelity Bank Plc is a full-fledged Commercial Deposit Money Bank serving over 9.1 million customers through digital banking channels, its 255 business offices in Nigeria and United Kingdom subsidiary, FidBank UK Limited.
The Bank is a recipient of multiple local and international Awards, including the 2024 Excellence in Digital Transformation & MSME Banking Award by BusinessDay Banks and Financial Institutions (BAFI) Awards; the 2024 Most Innovative Mobile Banking Application award for its Fidelity Mobile App by Global Business Outlook, and the 2024 Most Innovative Investment Banking Service Provider award by Global Brands Magazine. Additionally, the Bank was recognized as the Best Bank for SMEs in Nigeria by the Euromoney Awards for Excellence and as the Export Financing Bank of the Year by the BusinessDay Banks and Financial Institutions (BAFI) Awards.
Photo caption:
L-R: Public Relations Officer, Enugu State University Teaching Hospital (ESUTH), Amarachi Amusi; Team Member, Optimizers Inductees Class of 2025, Precious Uchechi-Uneke; Class Governor, Optimizers Inductees Class of 2025, Chinedu Hilary-Elijah (both of Fidelity Bank Plc); Matron, Children’s Ward ESUTH, Esther Nnaji; and Team Lead, Corporate Social Responsibility (CSR), Fidelity Bank Plc, Victoria Abuka; during the Fidelity Helping Hands Program (FHHP) outreach to ESUTH recently.
News
Polaris Bank Champions Girls’ Hygiene Awareness with Female Hygiene Essentials Distribution in Kuramo & Victoria Island Junior and Senior Secondary Schools
Polaris Bank has continued its commitment to empowering the Nigerian girl-child through health education and essential support, with the successful distribution of female hygiene essentials to female students of Kuramo and Victoria Island Junior and Senior Secondary Schools, Lagos.
This initiative stems from Polaris Bank’s 2025 International Women’s Day celebration and forms part of our ongoing Adolescent Health and Hygiene Support Programme.
Through the Bank’s Girl-Child Support and Hygiene Education Initiative, the outreach aims to improve menstrual hygiene education, build confidence and dignity among young girls, and reduce school absenteeism resulting from lack of access to sanitary products.
Speaking at the event, Group Head, Customer Experience & Value Management, Polaris Bank, Mrs. Bukola Oluyadi, delivered a practical health talk to the girls, emphasizing the importance of maintaining proper hygiene during their menstrual cycle and in their daily lives.
She advised the students on essential personal care practices including the appropriate use of sanitary pads, the importance of daily use of clean underwear, and maintaining good body hygiene with deodorants and regular washing, especially during puberty when their bodies are developing.
“Your body is precious, and how you take care of it determines your confidence and wellbeing,” Mrs. Oluyadi told the students. “Good hygiene is not just about looking clean; it is about staying healthy, feeling comfortable, and showing up confidently in school and everywhere you go.”
She also encouraged the girls to cultivate life-long healthy habits, be informed about their bodies, and speak confidently about their health needs.
Also present at the distribution was the Non-Executive Director of Polaris Bank, Mrs. Subulade Giwa-Amu, who delivered a powerful motivational session on self-care, confidence, and self-presentation.
In her address, she reminded the girls that taking care of their appearance and hygiene contributes significantly to building a successful future.
“A clean girl equals a successful woman,” Mrs. Giwa-Amu affirmed. “Success is not only about your academic performance; it is also about how you present yourself. People see you before they know you, and first impressions always last. Loving yourself and caring for yourself should be a daily habit.”
She further encouraged the students to build confidence from within, stay self-assured, and always be conscious of their personal hygiene as young girls stepping into womanhood.
“Confidence starts with knowing who you are and being proud of yourself,” she added.
“When you take care of your body, you build respect for yourself, and others see that confidence reflected in how you speak, walk, and show up in the world.”
Polaris Bank’s support for the girl-child aligns with the Bank’s broader Sustainability and CSR strategy, which includes empowering young girls through education, access to essential learning materials, and social support systems that improve their health and academic performance.
The Bank believes that sustained investment in girls’ wellbeing ensures equal opportunity, reduces school dropout rates, and helps drive long-term social and economic development.
The female hygiene essentials distribution initiative directly addresses barriers that affect school attendance among adolescent girls, especially those who lack access to basic hygiene products.
By equipping students with knowledge and materials, Polaris Bank is helping to normalize conversations around menstruation, reduce stigma, and support healthier outcomes for young girls.
News
Sterling Bank Champions Collective Action……to Accelerate Nigeria’s Renewable Energy Transition
Sterling Bank Limited has brought together stakeholders in the renewable energy industry to explore ways to accelerate action in the sector.
The premier colloquium, held in Lagos on Monday, aimed to identify priority areas for action to increase energy access and drive economic growth in the quest to attain a one trillion-dollar economy.
Managing Director and CEO of Sterling Bank Limited, Mr. Abubakar Suleiman, gave the charge in his address at the colloquium organized with the theme: Beyond The Grid; Unlocking New Frontiers in Renewable Energy.
The CEO, who was represented by Dele Faseemo, Group Executive, Corporate & Investment Banking, explained that Sterling Bank will be paying closer attention to policy actions in two or three key priority areas, especially regulation and financing.
He noted that by focusing on these areas, the Bank can do more to drive progress and expand access to energy, which he described as essential for supporting economic growth and overall development.
In a keynote address titled Scaling Electrification in Nigeria, The REA Impact, Managing Director and CEO of The Rural Electrification Agency (REA), Dr. Abba Aliyu, spoke on the vision, mission and mandate of the agency.
He noted that Nigeria requires about $26 billion to address its energy deficit. He said the energy transition in Nigeria is a strategic shift towards achieving universal, reliable and sustainable energy access by integrating the grid, mini-grid and off grid technologies while aligning with national development and climate goals.
The CEO who was represented by Mr. Abba Hayatudden, Senior Advisor to the MD, said “REA is strategically expanding and optimizing channels to accelerate the adoption and sustainable growth of renewable energy acrossthe country in the areas of value chain development, regulation enhancement, funding windows, alternative resources and technical standardization.”
Minister of Power, Adebayo Adelabu, commended Sterling Bank for convening the conversation on renewable energy.
He stated that the Federal Government has placed renewable energy and rural electrification at the heart of the Renewed Hope Agenda.
The minister who was represented by Engineer Samuel Ayangeaor said, “The Federal Ministry of Power has continued to expand electricity access to underserved communities in a bid to drive economic growth, foster industrial activity and create jobs across the nation.”
In his goodwill message, Mr. Biodun Ogunleye, Lagos State Commissioner for Energy and Mineral Resources, noted that the current administration is implementing the most ambitious energy transformation ever undertaken.
He highlighted the state’s efforts in renewable energy and sustainability, including the two-gigawatt Lagos grid scale solar project.
The CEO of Sterling One Foundation, Mrs. Olapeju Ibekwe, emphasized the need for collective action. She urged participants not to allow the day’s deliberations to end as mere conversations or points documented in a communiqué.
Instead, she encouraged everyone to leverage the strength of their networks, act with intention, and remain focused on delivering meaningful impact.
The colloquium featured two panel sessions on financing and scaling green energy solutions in Africa, among others.
//Ends.
About Sterling BankSterling Bank Limited is a full-service national commercial bank in Nigeria and a member of Sterling Financial Holdings Group.
With a heritage of more than 60 years, the bank has evolved from Nigeria’s pre-eminent investment banking institution to a trusted provider of retail, commercial, and corporate banking services.
Sterling is a forward-thinking financial institution committed to transforming lives through innovative solutions, exceptional service, unwavering integrity, and a steadfast focus on its HEART strategy, which centers on Health, Education, Agriculture, Renewable Energy, and Transportation. As pioneers in digital banking and financial inclusion, Sterling continues to lead by example, showing how purpose-driven leadership can deliver transformative outcomes for individuals, businesses, and society at at large.
Guided by a culture of innovation and a passion for excellence, Sterling Bank remains dedicated to redefining the banking experience for millions of customers across Nigeria.
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