Fidelity Bank Denies Seizing US$25 Million From MIIF
Fidelity Bank has denied seizing US$25 million from the Minerals Income and Investment Fund (MIIF).
According to the bank, the transaction in question pertains to a foreign exchange pre-settlement agreement.
Under the agreement, Fidelity Bank advanced funds to MIIF in Ghana cedis, with the understanding that MIIF would settle the equivalent in foreign exchange within a stipulated time.
A statement issued by the Fidelity Bank on Thursday(23 January), said although MIIF did not meet the agreed timelines, it fully settled the remaining amount in December 2024.
Fidelity Bank says it remains committed to its partnerships and the economic initiatives aimed at easing foreign exchange demands.
Below is the full statement:

Source: UGC
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Source: YEN.com.gh