Lagos-based professional services firm Fides & Fiducia has issued a public clarification denying allegations published by Sahara Reporters linking the firm’s bank accounts to alleged public fund transactions.

In a statement dated February 12, 2026, the firm described the claims as “entirely false” and said it was necessary to address what it called misleading assertions for the benefit of its clients, stakeholders and the wider public.

The clarification follows publications dated February 9 and 11, 2026, which reportedly alleged that public funds were channelled through accounts associated with the firm by its former Managing Partner, Mr Oluwaseun Faleye.

Fides & Fiducia stated that Mr Faleye ceased to be Managing Partner following his resignation on July 15, 2024, and no longer exercises control or authority over the firm or its accounts.

The firm further said that two Access Bank accounts referenced in the reports have been dormant for several years and are not operational. It also clarified that the Zenith Bank account mentioned is an operational account used strictly for legitimate professional activities and contains funds belonging to the firm.

“Our firm’s accounts have never received, held or appropriated public funds in the manner suggested,” the statement read, adding that it strongly dissociates itself from any insinuation of unethical conduct.

The company said it reserves all legal rights in respect of what it described as false and defamatory imputations and urged media organisations to verify facts thoroughly before publication.

Fides & Fiducia reaffirmed its commitment to professional ethics, transparency and compliance with applicable laws and regulatory obligations.

The statement was signed by the firm’s Principal Partner and issued from its Victoria Island, Lagos office.