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