How Court Jails Fidelity Bank MD, Secretary For 6 Weeks

A chief magistrate’s court in Ogba, Lagos, has sentenced Nneka Onyeali-Ikpe, Managing Director of Fidelity Bank, to six weeks in prison.

The court, presided over by Magistrate Lateef Owolabi, extended the same sentence to Ezinwa Unuigboje, the bank’s secretary, after finding both guilty of disobeying a garnishee order of court restraining the bank from allowing a judgment debtor access to his account.

FIJ learned that Owolabi had on December 6, 2022, issued the garnishee order for 17 banks to not grant Enabulele Ozaze, a judgement debtor, access to his bank accounts until he paid a judgement debt of N2.8 million.


Ozaze was on October 13, 2022, ordered to refund one Jibrin Ahmed the sum of N2.8 million. This sum was money Ahmed had earlier paid to Ozaze for the purchase of a Toyota Corolla car.

Two months after Ozaze failed to refund, Owolabi ordered 16 banks to not allow him transact on any account.

On January 25, 2023, Ahmed told the court, via an affidavit, that Fidelity Bank had flouted the garnishee order.

He showed the court how Ozaze had been withdrawing funds from his account. He claimed that Ozaze had N3,165,759.05k in his account with Fidelity Bank as of January 12, 2023, when the garnishee order was served.


Three days after the order was served, Ozaze withdrew N725,547.80k from the account. The following day, he transferred another N251,305.90 out of the bank.

On January 17, Obianuju Nwosu, Fidelity Bank’s legal officer, confirmed they received the garnishee order on December 22, 2022, and apologised to the court for the transactions on the account.

On January 18, the court ordered that the managing director and the bank’s secretary to appear before it to explain why they should not be sentenced to prison.

Both were absent on Monday. Owolabi ordered their immediate remand and instructed the Lagos State Commissioner of Police to effect their arrest.

Concerned Parties Move To Reconcile Nnamdi Okonkwo, Nneka Onyeali-Ikpe

From all indications, there is an effort to reconcile the former Managing Director of Fidelity Bank, Nnamdi Okonkwo and his successor, Nneka Onyeali-Ikpe.

A source revealed to papermacheonline that those concerned had reached out over the weekend to manage the situation between the two bankers in the interest of the bank and the general public.

The image of the bank was said to have been affected by the crisis calling for the need to bring together both parties.

As narrated, this is genesis of the crisis monitored on news blog, Maestromedia…

A rumble has started to brew in Fidelity Bank and if it isn’t quickly contained, may engulf the financial institution, cause disaffection among staff members with investors and shareholders likely to pull their investments and ultimately affect the fortunes of the bank.

The people at the centre of this rumble are none other than Nnamdi Okonkwo, the former MD/CEO of the bank and his successor, Nneka Onyali-Ikpe, the current MD/CEO of the bank.

The duo who supposedly have a mentor and mentee relationship, have now parted ways acrimoniously over high level ambition.

According to Maestrosmedia, trouble started when Nnamdi Okonkwo just like his fellow bankers do, decided he needed to be very much involved in who takes over from him. Like his ilks, Okonkwo’s need to be involved in who replaces him, was simply to get someone who he trusts enough to protect his interest and to have his back, owing to all of his financial dealings when he was at the helm of affairs at the bank.

When Fidelity Bank began shopping for his replacement, Okonkwo already had in mind the perfect person he wanted to take over from him. He was reportedly planning to bring in someone who has shown brilliancy from another banking institution of repute before he got cornered by one of his executive directors.

The director who is now the incumbent MD of Fidelity Bank had gone out on limb to meet with the highest echelon of the bank responsible for making the choice for a replacement, without Okonkwo’s knowledge.

Onyali-Ikpe who obviously wanted to advance her career showed keen interest for the job and went after it with all the gusto she could muster. Luckily, it worked in her favor and the board of the bank got sold out to her.

Okonkwo was miffed that she had gone behind him to pitch herself for the job without his knowledge. And so he tried to dissuade the board to go with his choice but their mind was obviously made up and she became their choice. This was all the more made possible by her husband, Ken Onyali-Ikpe who allegedly put every resource at his disposal to make his wife’s dream come true.

Since her assumption to the office of the MD on January 1st, Onyali-Ikpe is allegedly said to be on a ‘house cleaning’ agenda; weeding out those who she perceives to be loyal to the erstwhile MD and who could possibly undermine her.

A few have been smart enough to jump ship and avoid the humiliation of being sent packing. One of those The Street Journal gathered, who saw the signs and quickly left is Charles Aigbe, the former deputy general manager/head, brand and communications is now the deputy Vice President, community relations, HEIRS Oil.

Only those who switched allegiance have been spared from madam’s hammer

Also, the former MD/CEO’s tenure is already going through thorough scrutiny with the hope that eagle eyes will catch something the ex MD doesn’t want unearthed and hopefully, get him the Francis Atuche treatment.