… prepares for legal action
THE United Bank for Africa Plc has described media reports on an alleged N41bn fraud, involving its principal officers, as untrue, misleading and malicious, saying the allegation should be disregarded in its entirety.
The Bank, in a statement, signed by its Company Secretary, Bili A. Odum, at the weekend, said it had set appropriate legal actions in motion to ensure that the misleading reports were retracted and pepetrators held accountable for their actions.
Titled, “Statement to The Nigerian Stock Exchange on False Reports in the Media”, the statement said, “The attention of United Bank for Africa (UBA) has been drawn to false reports circulating in the media, alleging that UBA and some of its principal officers have been indicted in a N41 Billion fraud involving NITEL in Liquidation.
“We would like to use this medium to inform the general public that the reports are untrue, misleading, malicious, libellous and should be disregarded in its entirety.
“UBA has set in motion all appropriate legal actions to ensure that the misleading reports are retracted and the perpetrators held accountable for their actions.
“UBA is a reputable global brand and responsible corporate citizen, operating in multiple jurisdictions, and 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.”
The Chairman of the Bank, Tony Elumelu, has also given the Chairman of the Senate Committee on Privileges and Public Petitions, Senator Ayo Akinyelure, seven days ultimatum to retract a statement indicting him for N41bn fraud against NITEL or face court action.
