AGF clarifies dropping fraud charges against Fidelity Bank CEO
The Attorney General of the Federation and Minister of Justice, Lateef Fagbemi, SAN, provided clarification on Monday regarding the decision to drop a criminal case involving Dr. Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer of Fidelity Bank Plc.
This clarification was issued in a statement by Kamarudeen Ogundele, Special Adviser to the President on Communication and Publicity (Office of the AGF), due to public inquiries and media reports implying that the federal government intentionally removed Dr. Onyeali-Ikpe from an ongoing multi-billion-naira fraud case.
The AGF’s office indicated that the charges against her were dismissed after a comprehensive legal examination revealed insufficient evidence directly tying her to the alleged crime.
The statement emphasized that the decision was driven solely by legal considerations, prosecutorial discretion, and the pursuit of justice — rather than any external pressures or influences.
The case was reportedly initiated by the Office of the Attorney General of the Federation in the Federal High Court in Lagos, naming lawyer Victor Ukutt, Whoba Ugwunna Ogo (who is reportedly at large), Fidelity Bank Plc, and Dr. Nneka Onyeali-Ikpe as defendants, who faced accusations related to the alleged misappropriation of N19 billion owed to Woobs Resources Limited.
However, reports indicate that the AGF submitted an amended 10-count charge on May 5, 2025, which replaced Dr. Onyeali-Ikpe’s name with that of Safiya Whoba.
This change triggered public scrutiny, leading the AGF’s office to release an official explanation.
The AGF’s spokesperson remarked, “The Attorney General's choice to discontinue the criminal charges against Dr. Nneka Onyeali-Ikpe, MD/CEO of Fidelity Bank Plc, demonstrates the office's dedication to justice and fairness.”
He noted that, as the chief law officer of the federation, the Attorney General possesses the constitutional power to withdraw criminal charges when such action is necessary to uphold justice and avoid any miscarriage of justice.
“This decision resulted from a detailed review of the case, which did not link Dr. Onyeali-Ikpe to the allegations, as she was neither the account officer nor the Managing Director of Fidelity Bank at the time the account involved in the alleged fraudulent scheme was opened,” he explained.
The official highlighted that the Attorney General’s decision was influenced by the principles of justice, fairness, and the rule of law, expressing confidence that this action serves the interests of both justice and the public welfare.
The statement further elaborated that Dr. Onyeali-Ikpe’s removal from the case does not exonerate Fidelity Bank from the claims specified in the charge, which continues to be pursued in court.
Rather, it underscores the Attorney General’s duty to ensure that prosecutions are carried out only where evidence substantiates them, in alignment with the quest for genuine justice.
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