The management of Fidelity Bank has denied any wrong doing in the management of the huge cash money, $115 million, deposited with the bank by the former Minister of Petroleum Resources, Diezani Madueke for which its managing director and its Head of Operations were arrested and detained by the EFCC. In a terse statement, the bank said:

“Our attention has been drawn to reports in the media on investigations into transactions undertaken by the Bank in the normal course of business in 2015.

“The transactions are now the subject matter of investigations by the Economic & Financial Crimes Commission (EFCC).

“We can confirm that the transactions were duly reported as required by the regulators and the Bank is cooperating fully with the authorities on the investigation.

“We assure our numerous stakeholders, including our customers that we are working assiduously towards a quick resolution of the issues.”