EFCC releases Fidelity Bank boss Nnamdi Okonkwo, traces slush funds to NNPC

According to reports, the Economic and Financial Crimes Commission has released the Managing Director of Fidelity Bank, Mr. Nnamdi Okonkwo, who was arrested last Wednesday for allegedly helping a former Minister of Petroleum Resources, Diezani Alison-Madueke, to launder $153m.

Nnamdi-Okonkwo-Fidelity-Bank-CEO

The EFCC had taken the bank MD before an Ikeja Magistrate’s Court last week where the court ordered that he remained in EFCC custody for a week.

However, a reliable source at the commission said that Okonkwo made useful statements on the case and had given detectives all the information they needed, thus he was no longer needed.

The source said the bank boss would be charged before a Federal High Court in Lagos next week for alleged money laundering, conspiracy and fraud.

The detective, who spoke on the condition of anonymity, said that the $153m emanated from the account of the Nigerian National Petroleum Corporation.

We believe the $153m is part of the money missing from the NNPC account. He gave us some names and we are already on the trail of the other suspects. We will arrest all of them.

“We have, however, released the bank MD. We released him because he had told us everything we needed to know. We will arraign him next week. Releasing him doesn’t stop our arraignment.”

The EFCC source said the commission was working on the theory that the money was part of the $20bn that a former Central Bank of Nigeria Governor and now Emir of Kano, Muhammadu Sanusi II, alleged went missing under Diezani.

Sanusi had in 2013 stated that despite an increase in the price of global crude oil and steady rate of production, the money that was being remitted into the CBN account by the NNPC was dropping mysteriously, a statement which later cost him his job.

“With the latest breakthrough, the stage is set for the EFCC to embark on a fresh investigation into the NPPC,” the EFCC source added.

Besides the alleged $153m NNPC scam, Okonkwo will be arraigned for his alleged role in a separate $115m scam.

It will be recalled that Okonkwo had been arrested in April for allegedly helping Diezani to handle a separate $115m during the build-up to the 2015 general election.

The money was said to have been given to Okonkwo through four companies under the instruction of Diezani. The bank boss had also allegedly received $26m in cash from the ex-minister.

The money, which was later converted to N23bn, was allegedly used in bribing officials of the Independent National Electoral Commission during the election.

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10 Comments

  1. If $2.1b is missing, America will know! This is Jonathan earlier in the year. So naive even for an elementary school boy.

  2. JONATHAN, I am not seeing any viable path out of PRISON from the facts on ground o
    It is not looking good at all

  3. Why won’t the supply of America dollars be very scarce this days when the authorities in the past administration virtually stole what would have been available for the country today.By the way, when did the country stopped spending the Naira which is our national currency? Criminal elements here and there killing the nation’s economy.

  4. Where are the guys who are quick to criticize Buhari on this forum? You guys should hide your faces in shame forever. If you’re a Nigerian and you still see nothing wrong in the wasteful years of the Dumbo, you’re a living dead. A tribalist and a blind follower for no tenable reason

  5. @Dodo,nice one but,I just pity some Nigerian youths who I expected to know better and see this stealing as a crime against their future hope,rather,they bring into it all kinds of religious,political and ethnic sentiments,I wonder whether their relations or family members benefit from this stealing or,how can they just remain blindfolded to this blank truth. And they continue to shout no job,no electricity,no good roads,no this no that,yet,they have turned themselves to public defenders of the people who brought us into this mess,I hope your unborn generation will not cause you for your insensitivity someday.

  6. If your insensitivity is because you think Jonathan is your tribesman,are you so brainwashed to ask yourselves simple questions such as,how has he turned around the fortune of an average Niger Deltan apart from the fact that he enriched the likes of Tompolo,Asari Dokubo and others? Tell me or mention one meaningful developmental projects he did in the Niger Delta? Even clearing the oil spillage became an impossible task for him,tell me how his presidency has benefitted people from Bayelsa his hometown,yet,some of you cannot still reason beyond your nose to know that,we need to graduate from ethnic,political and religious mentality and pursue a true Nigeria agenda. The bad news for you all is that,either you realize it or not,Buhari has three more years to spend and there nothing anyone can do about that,he may spend another four years if Nigerians so desire.

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