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The Management of United Bank for Africa (UBA) has described the alleged N41 billion fraud levied against some of the principal officers of the bank as untrue, misleading, malicious, and libelous, adding that it should be disregarded in its entirety.
This was disclosed in a statement issued by the bank to the Nigerian Stock Exchange and signed by the company’s secretary, Bili Odum, on Friday.
Media reports in some online blogs (not TheNewsGuru.com TNG) alleged that some top shots of the bank were “indicted” prompting the bank to issue a denial via a press release.
In the Statement To The Nigerian Stock Exchange on False Reports in the Media, the bank stated that “it has set in motion all appropriate legal actions to ensure that the misleading reports are retracted and the perpetrators held accountable for their actions”.
It also stated that it will “continue to conduct its business in line with global best corporate governance practices, extant laws, and regulations,” as it has done in over 70 years of operations.
TheNewsGuru.com TNG reports that counsel to NITEL, J.U Ayofu recently petitioned the Senate Committee Chairman on Ethics, Privileges and Public Petitions about the alleged fraud. The committee chairman, Senator Ayo Akinyelure, claimed the ”the N41billion alleged fraud was committed against the defunct Telecommunications company and National Carrier, NITEL”
They alleged the amount was withdrawn “systematically from NITEL for nine years” under the leadership of the bank.
Senate Committee Chairman on Ethics, Privileges and Public Petitions, Mr. Ayo Akinyelure, reportedly said, “The N41 billion alleged fraud was committed against the defunct telecommunications company and national carrier, NITEL.
According to the reports, in view of this, the senate committee has summoned the Group Managing Director/CEO of UBA, Mr. Kennedy Uzoka, to appear before it on Wednesday, August 5, 2020 to clear the lingering allegations against the bank’s principal officers.