Fidelity bank appointed Mohammed Lawal Balarabe, as their new acting Managing Director/Chief Executive Officer (MD/CEO) after their management meeting last night Monday 2nd of May 2016.This appointment was very vital to the management of Fidelity bank following the arrest of their Managing Director/Chief Executive Officer (MD/CEO), Mr. Nnamdi Okonkwo, by the Economic and Financial Crimes Commission (EFCC) for receiving $115 million in lodgements from Mrs. Diezani Alison-Madueke,the former Minister of Petroleum Resources,and disbursed the funds to politicians in the build-up to the 2015 presidential election that was lost by former President Goodluck Jonathan.
The bank denied the allegation in a press statement which they stated that the funds was reported to the regulator and that it was cooperating with the EFCC in its investigations.
Mohammed Lawal was once the bank’s executive director of commercial and consumer banking (north directorate) and holds He holds a bachelor of arts in accounting and finance from Nottingham Trent University (1986) and master of science in finance from the University of Lagos (1995). with 24 years banking experience.
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