The Federal Government has officially dropped all fraud-related charges against Dr. Nneka Onyeali-Ikpe, the Managing Director of Fidelity Bank Plc.
The announcement came through a statement by Mr. Kamarudeen Ogundele, the Special Assistant on Communication and Publicity to the Attorney-General of the Federation (AGF), Lateef Fagbemi (SAN), on Monday in Abuja.
According to the AGF, the decision to discontinue the criminal charge was based on a thorough review of the case file. The review revealed that Dr. Onyeali-Ikpe 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.
“As the chief law officer of the federation, the AGF has the constitutional power to enter a nolle prosequi—a formal notice to discontinue a prosecution—to prevent a miscarriage of justice,” the statement read.
The AGF emphasized that the move is part of a broader effort to uphold the principles of fairness and justice. “This decision is guided by the principles of justice, fairness, and the rule of law. We have every confidence that it serves the best interest of justice and the Nigerian public,” the AGF’s office added.
However, the AGF clarified that while Dr. Onyeali-Ikpe has been cleared, this does not mean Fidelity Bank as an institution has been exonerated. The broader allegations against the bank remain under judicial consideration, and the case is still pending before the court.
He urged the public not to jump to conclusions or spread misinformation. “We urge the public to allow the legal process to run its course. The AGF is committed to ensuring that justice is served at all times, and that those found guilty, at any stage, will face the full weight of the law,” the statement said.
The case initially stirred public attention due to the high profile of Dr. Onyeali-Ikpe, who became the first female MD of Fidelity Bank in 2021. Her leadership has been widely regarded as a turning point for the bank, especially in areas of digital transformation and customer service.
This latest development is seen as a boost to her reputation and may help restore public confidence in her leadership and the bank’s integrity.
The AGF’s move is also being interpreted as a signal that legal processes will be based strictly on facts and evidence, not on assumptions or pressure from public opinion.
Legal analysts note that the nolle prosequi decision, though sparingly used, is an important tool in the Nigerian justice system to ensure that innocent people are not wrongfully prosecuted.
As the case continues in court, attention will now shift to the parties directly involved in the alleged fraud.
