First Bank speaks on N7 billion fraud allegations

First Bank of Nigeria has refuted recent allegations of involvement in a N7 billion fraud, describing the claims as “entirely unfounded” and devoid of any factual basis.

The allegations, reported by an online news platform, were attributed to an unnamed source claiming direct knowledge of the matter, alongside three other individuals who opted for anonymity due to the sensitive nature of the claims.

In a statement signed by the Acting Group Head of Marketing and Corporate Communications, Olayinka Ijabiyi, First Bank dismissed the report as baseless.

“We have been made aware of a recent publication by Tech Cabal containing allegations of fraud involving our institution. We wish to categorically state that the story is entirely unfounded and not supported by any factual evidence,” the statement read.

First Bank, one of the number one leading Nigerian bank emphasized its unwavering commitment to operational integrity and maintaining the trust of its customers and stakeholders. It further reassured the public that its security systems remained robust and that no breach had occurred affecting customer accounts.

First Bank urged the public to disregard the allegations, reiterating its dedication to transparency and accountability in all its operations.