Real reason I dropped fraud charge against Fidelity bank’s MD, Onyeali-Ikpe – AGF

The Attorney-General of the Federation (AGF) and Minister of Justice, Prince Lateef Fagbemi, SAN, has revealed why the Federal Government discontinued the fraud charges previously filed against the Managing Director and CEO of Fidelity Bank Plc, Dr. Nneka Onyeali-Ikpe.

In a statement released on Monday through his media aide, Mr. Kamarudeen Ogundele, the AGF explained that a thorough review of the case showed that Dr. Onyeali-Ikpe was not in charge of the bank at the time the alleged fraud occurred.

According to Fagbemi, the decision to drop the charges is rooted in the principle of justice and fairness. “Dr. Onyeali-Ikpe was not at the helm of affairs of Fidelity Bank when the alleged fraud was committed,” the statement read. “The action taken by the Office of the Attorney-General is a reflection of our commitment to uphold justice and ensure that innocent individuals are not wrongfully prosecuted.”

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“As the chief law officer of the federation, the AGF has the constitutional power to enter a nolle prosequi, discontinuing a prosecution where it is deemed necessary to prevent a miscarriage of justice.

“This decision followed a careful review of the case which did not connect Dr. Onyeali-Ikpe to the charge as she was neither the account officer nor the Managing Director of the Fidelity Bank when the account used in the alleged scheme of fraud was opened.

“The Attorney General’s decision is guided by the principles of justice, fairness, and the rule of law, and we have every confidence that this decision is in the best interest of justice and the public.

“This decision does not to exculpate Fidelity Bank from the allegations contained in the charge which is still pending before the court, but rather a demonstration of the Attorney General’s duty to ensure that justice is served.

“We urge the public to allow the legal process to run its course and to refrain from speculation or jumping to conclusions.

“The AGF will ensure that the best interest of Justice is served at all times and that all those found wanting, at any time, face the full weight of law to serve as a deterrent to others,” the statement further read.

Dr. Onyeali-Ikpe was initially listed as the 3rd defendant in an eight-count charge before the Federal High Court in Lagos marked: FHC/L/138C/2025, which bordered on alleged N19billion fraud.