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Shares in Nigeria's Fidelity Bank slide as anti-corruption agency detains CEO

Reuters
A security officer checks a man outside the Nigerian Stock Exchange in Lagos April 8, 2014. REUTERS/Akintunde Akinleye (Reuters)

LAGOS (Reuters) - Nigeria's Fidelity Bank shares fell to a two-month low on Tuesday after the financial crimes agency detained the lender's chief executive last week, prompting it to appoint an acting chief. Shares in the mid-tier bank fell 7.7 percent to 1.08 naira, a level last touched on March 3. The shares are down 22 percent so far this year. Fidelity CEO Nnamdi Okonkwo has been in the custody of the Economic and Financial Crimes Commission (EFCC) since Wednesday, as part of investigations into transactions made in the run-up to elections last year. Fidelity Bank has said that "the transactions were duly reported as required by the regulators" and that it was cooperating with authorities. (Reporting by Chijioke Ohuocha and Oludare Mayowa, editing by Louise Heavens)