Fidelity Bank Plc has refuted claims that one of its employees demanded a bribe in exchange for releasing funds from an international money transfer, stating that the transaction raised concerns under its compliance protocols.
Meksley Nwagboh, Divisional Head of Brand and Communications, Fidelity Bank, made the clarification in a statement on Thursday.
An online newspaper had reported that a Fidelity Bank staff member at the University of Benin (UNIBEN) branch requested a bribe to release funds sent to a customer via Remitly.
According to the report, on March 14, the customer visited the UNIBEN branch to claim a Remitly transfer.
The report claimed that after an issue with the customer’s middle name was corrected, only part of the funds were released, and a bank operations manager made comments implying a bribe was expected before the full amount would be paid out.
Fidelity Bank dismissed these allegations, calling the report “false,” “malicious,” and “grossly unprofessional.”
The bank explained that the customer initially visited the UNIBEN branch on March 14 to collect a Remitly transfer.
A discrepancy in the customer’s name delayed processing, but once resolved, the bank processed part of the transfer.
However, the remittance was split into seven separate transactions, which required additional due diligence in line with the bank’s Remittance policy. The bank communicated this to the customer, advising them that the transactions would need to be sent to the Compliance department for review.
Fidelity Bank emphasized that the customer returned on March 17, demanding full payment, despite the compliance review still being in progress.
The bank noted that splitting funds into smaller amounts is a common tactic used to circumvent regulatory thresholds, prompting further scrutiny.
“The bank’s investigation uncovered several red flags, including the volume and structure of the transactions, the involvement of a third party claiming to be the recipient’s husband, and the beneficiary’s inability to explain the purpose of the funds.
“We also reached out to Remitly, which reported that they could not contact the sender, and the beneficiary could not verify her relationship with the sender.
“Remitly’s clear directive to the bank was to reject the transaction as they were unable to contact the sender, and the beneficiary could not validate her relationship with the sender,” the statement said.
The bank added that on 24 March, the customer returned to the branch to stage a demonstration and allegedly threatened to tarnish the bank’s reputation in the media.
“At no point did our staff ask for a bribe, explicitly or implicitly, to facilitate the transaction.
“We are deeply surprised at the gross unprofessionalism of the writer for publishing a story accusing the bank of refusing to pay a customer intentionally and accusing our staff of requesting a bribe… without any evidence.”
The bank stated that it is consulting legal counsel to explore potential legal action and has reported the incident to law enforcement for investigation.
“As a leading financial institution with a strong commitment to corporate governance, Fidelity Bank remains dedicated to adhering to the law and maintaining the highest ethical standards in all customer interactions,” the statement concluded.
