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Wednesday, May 4, 2016
As a result of a political bribery probe Laitan Adesanya, the CEO of Lenoil Nigeria Ltd., was arrested by the Economic and Financial Crimes Commission (EFCC) for his alleged role in bribing electoral officials. Adesanya’s arrest is part of a wider investigation into allegations that members of the Peoples Democratic Party bribed some officials at the Independent National Electoral Commission ahead of last year’s presidential elections in Nigeria.
The EFCC has also arrested the MD of Fidelity Bank, Nnamdi Okonkwo, and the bank’s head of operations, Martin Izuogbe. Adesanya was alleged to have handed $1.85 million to the bank based on the instruction of former Minister of Petroleum Resources, Diezani Alison-Madueke.
The former minister was also alleged to have given the bank MD $26 million in cash which was ultimately disbursed to officials of the electoral commission as bribes.
Fidelity Bank maintains that it reported all its financial dealings to the appropriate authorities, saying in a statement in late-April “transactions were duly reported as required by the regulators and the bank is cooperating fully with the authorities on the investigation.”
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