FBN Holdings MD Okonkwo Not In EFCC Custody

…Veteran Banker Set To Revitalise FBN Group

CONTRARY to online media reports that the Managing Director of FBN Holdings, Nnamdi Okonkwo, is in the custody of the Economic and Financial Crimes Commission (EFCC), Prime Business Africa can authoritatively report that he is currently not being held or interrogated by the anti-graft agency over any matter.

A reliable source from the FBN, in an exclusive chat with Prime Business Africa on Monday, emphatically stated that he was neither arrested nor detained by the EFCC.

PBA also spoke with FBN MD-designate on telephone Monday morning and confirmed that he is not in any form of custody and is currently in Lagos.

There were online media reports over the weekend claiming that Okonkwo was being detained by the EFCC over an alleged role in the transfer of $153.3 million from the Nigeria National Petroleum Corporation (NNPC) on behalf of Nigeria’s former Minister of Petroleum, Deziani Alison Madueke.

Okonkwo, who is a former managing director of Fidelity Bank Plc, was appointed Group Managing Director of FBN Holdings on October 28 to replace Mr U.K. Eke, who will be retiring on December 31, 2021.

However, it would appear that a lot of horse-trading is already going on to disrupt a smooth transition to revitalising the FBN by the veteran banker.

Uke was said to have tendered his notice of retirement on August 10, 2021.

According to a statement by FBN Holdings, Okonkwo is expected to assume office as GMD on January 1, 2022.

The FBN management had said in the statement that Okonkwo’s appointment was based on his stellar performances and wealth of experience in transformational leadership and innovative business and corporate governance in the financial sector, adding that the management hopes that he would bring his more than three-decade experience in banking career on board.

At Fidelity Bank, Okonkwo performed creditably, leading the management team to achieve good results.