Nigeria’s Attorney General and Minister of Justice, Lateef Fagbemi, has clarified that his office removed Nneka Onyeali-Ikpe, Managing Director (MD) of Fidelity Bank Plc — a fast growing local lender, from a $12 million fraud case due to lack of evidence linking her to the alleged offence.
The clarification was issued on Monday by Kamarudeen Ogundele, Special Adviser to the President on Communication and Publicity, in a statement responding to media reports that suggested Onyeali-Ikpe’s name was replaced with Safiyat Whoba without explanation from the ongoing criminal trial.
The fraud case was initially filed by the Attorney General of the Federation before the Federal High Court in Lagos — the nation’s former capital city— against lawyer Victor Ukutt, Whoba Ugwunna Ogo (reportedly at large), Fidelity Bank Plc, and Onyeali-Ikpe.
The charges relate to the alleged unlawful conversion of funds belonging to Woobs Resources Limited, amounting to $12 million.
According to the statement, the Attorney General’s decision to discontinue prosecution against Dr. Onyeali-Ikpe “is a testament to the office’s commitment to upholding justice and fairness.”
The Special Adviser explained that the AGF, as the nation’s chief law officer, has the constitutional authority to discontinue prosecution against any defendant where necessary “to prevent a miscarriage of justice.”
The decision followed a thorough 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.”
While. Onyeali-Ikpe has been removed from the charges, the statement clarified that Fidelity Bank Plc remains a defendant in the ongoing trial.
The statement urged the public to allow the legal process to run its course and to refrain from speculation or jumping to conclusions.
It also assured that the Attorney General’s 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.
The latest development comes as the local lender faces a separate legal challenge involving up to $19 million in potential damages tied to a disputed legacy loan — the subject of an ongoing property battle.
In that case, Fidelity Bank is expected to share liabilities with another party involved.
Despite the prolonged court proceedings, the bank has maintained that it remains “very strong and profitable.”
