Nigeria's Fidelity Bank shares
fell to a two-month low on Tuesday after the financial crimes agency detained
the bank'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.