FIDELITY BANK TACKLES AGF OVER ILLEGALLY CONCEALED $24.5 MILLION

VICTORIA ISLAND, Lagos, Nigeria – Management of Fidelity Bank Plc was on Thursday rattled following revelation that it allegedly concealed $24.5 million in contravention of the Federal Government’s Treasury Single Account (TSA) policy.

Reacting to the development, the bank it does not have any TSA related account with a balance of $24.5m in Fidelity Bank which has not been remitted to the authorities, adding that it is reaching out to the office of Attorney General of the Federation, Mr. Abubakar Malami for clarification.

“This matter is coming to us as a surprise. We are therefore reaching out to the Office of the Attorney-General of the Federation to ascertain which account or parastatal they are referring to with a view to carrying out a detailed reconciliation”, Fidelity Bank said in a statement signed by Charles Aigbe, Divisional Head Brand and Communications.

See full statement below.

Press Statement
Lagos Nigeria: Thursday July 20, 2017:Our attention has been drawn to media reports stating that Fidelity Bank illegally concealed $24.5m in contravention of the Federal Government’s Treasury Single Account (TSA) policy, citing court papers filed by the Office of the Attorney-General of the Federation at the Federal High Court in Lagos today.

Please note that at the commencement of the TSA policy all TSA related accounts held by the bank were fully disclosed to the authorities. We do not have any TSA related account with a balance of $24.5m in Fidelity Bank which has not been remitted to the authorities.

This matter is coming to us as a surprise. We are therefore reaching out to the Office of the Attorney-General of the Federation to ascertain which account or parastatal they are referring to with a view to carrying out a detailed reconciliation.

Signed
Charles Aigbe
Divisional Head Brand and Communications