Fidelity Bank’s Managing Director/CEO Nnamdi Okonkwo, who was away following his interrogation by the Economic and Financial Crimes Commission (EFCC), is back at work.
Okonkwo was with the anti-graft agency on the allegation that the bank received about $115million from the former Petroleum Resources Minister, Mrs. Diezani Alison- Madueke, a lodgement the bank said was reported to the regulatory authority.
Also, the bank has appointed Alhaji Mohammed Lawal Balarabe, the Acting Managing Director, as its Deputy Managing Director, subject to regulatory approval.
The bank, in a statement, said Balarabe, who acted for about two weeks, has over 24 years experience in Corporate, Commercial and Retail banking. He has worked in various capacities in Nigeria’s financial services industry where he acquired strong strategic management, leadership and people skills.
Balarabe holds a Bachelor’s Degree in Accounting and Finance from Nottingham Trent University, United Kingdom (UK), as well as a Master of Science (M.Sc.) in Finance from the University of Lagos. He has attended several executive education programs at the Columbia University Business School, INSEAD; Said Business School, University of Oxford; and Kellogg School of Management, amongst others.
He is a licensed member of the Nigeria Stock Exchange (NSE) since 1992. Balarabe was Executive Director of Oceanic Bank Plc, pursuant to an appointment by the Central of Nigeria (CBN).
He was also a General Manager in United Bank for Africa (UBA) and General Manager & Chief Executive of Newdevco Finance Services Company Limited before his appointment to the Board of Fidelity Bank in April 2012.