A former Managing Director of Fidelity Bank Plc, Nnamdi Okonkwo, has been arrested by the Economic and Financial Crimes Commission (EFCC).

Okonkwo was arrested over an additional $72.87m found in the coffers of the bank.

The EFCC in a statement issued on Wednesday by its spokesman, Wilson Uwujaren, said the discovery is part of the ongoing investigations of the former Minister of Petroleum Resources, Diezani Alison-Madueke.

Uwujaren said the former managing director is being grilled alongside one Charles Onyedibe.

Okonkwo, who is currently the chairman of First Bank Holding, alongside others, had earlier been questioned over $153million and $115million by the EFCC.

While all the $153 million was recovered by the EFCC, the cases involving $115million, as it relates with the Independent National Electoral Commission (INEC), bribery matters are in various courts.

The statement reads: “Okonkwo, who is currently the Chairman of First Bank Holding, alongside others, had earlier been grilled over a sum of $153million and $115million by the commission.

“While all the $153 million were recovered by the EFCC, the cases involving $115million, as it relates to the Independent National Electoral Commission (INEC), bribery matter, are in various courts.

“Okonkwo and Charles Onyedibe are currently being detained by the EFCC over the whereabouts of the new $72.8m.”