Fidelity Bank Plc yesterday appointed Alhaji Mohammed Lawal Balarabe as the new Acting Managing Director. He replaces, temporarily, the troubled Chief Executive Officer, Nnamdi Okonkwo, who allegedly refereed the sharing of the Deziani election bribe money among INEC chiefs.
The bank’s Board of Directors approved the appointment and said the development was a reaction to the absence of the Managing Director/Chief Executive Officer.
Balarabe was prior to his appointment the Executive Director North. The bank has assured its stakeholders, including over 400,000 shareholders and over 3.4 million customers of its continued “seamless services”.
It said the appointment was with immediate effect.
Fidelity Bank has made the wrong headlines recently due to the arrest and detention of Okonkwo by the Economic and Financial Crimes’ Commission in connection with the $115 million election bribe money, involving the ex- Petroleum Resources Minister Mrs. Diezani Alison-Madueke.
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