FirstBank of Nigeria Limited has denied allegations of fraud involving the organisation, labelling them as “entirely unfounded and false.”
The allegations stem from a court case filed by Dr. Agbai Eke against the bank. According to FirstBank, the claims were linked to unauthorised transactions facilitated by a former employee and Dr. Eke through a personal relationship, outside the bank’s knowledge or involvement.
The matter is currently before the court, and FirstBank has filed a report with law enforcement agencies for further investigation. The bank reaffirms its commitment to transparency, accountability, and protecting customer interests, maintaining that it operates with the highest standards of integrity and professionalism.
In a terse statement signed by the acting group head,
Marketing & Corporate Communications, Olayinka Ijabiyi the bank said, “We have been made aware of a recent publication by Thisday Newspaper, Arise Television and a video circulating regarding a court case filed by a customer, Dr. Agbai Eke, against FirstBank.
“We can affirm that the allegations of fraud in the Bank as alluded to by ‘Dr. Agbai Eke’ are entirely unfounded and false. Our findings on the matter indicate unprofessional and unethical dealings between Dr. Agbai Eke and a former FirstBank employee, using a personal relationship to facilitate unauthorised transactions outside the bank’s knowledge or involvement.”
Recall that First Bank of Nigeria Limited has been engaging in a legal dispute with General Hydrocarbons Limited (GHL) over an alleged debt of $225.8 million.
FirstBank claims GHL owes this amount from loans extended for oil mining operations, citing governance issues and lack of transparency as the conflict’s root cause.
However, GHL denies these claims, stating that First Bank failed to meet its financial commitments and breached agreements. The dispute has led to court orders freezing GHL’s assets and a public exchange of accusations between both parties.
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
