FirstBank of Nigeria Limited has refuted allegations of fraudulent activity within its organization, dismissing them as completely baseless. The allegations surfaced in connection with a court case initiated by Dr. Agbai Eke against the bank. FirstBank asserts that the claims are linked to unauthorized transactions facilitated through a personal relationship between Dr. Eke and a former bank employee, conducted without the bank’s knowledge or authorization.
The matter is currently under judicial review, and FirstBank has also reported the incident to law enforcement agencies for further investigation. The bank reiterated its commitment to upholding transparency, accountability, and safeguarding customer interests, emphasizing its adherence to the highest standards of integrity and professionalism. In an official statement released by Olayinka Ijabiyi, acting group head of Marketing & Corporate Communications, FirstBank addressed recent media reports, including publications in Thisday Newspaper, Arise Television, and circulating videos regarding Dr. Agbai Eke’s lawsuit.
“We unequivocally state that Dr. Agbai Eke’s claims of fraud within FirstBank are entirely unfounded and untrue,” the statement read. “Our investigation indicates that the transactions in question resulted from unprofessional and unethical interactions between Dr. Agbai Eke and a former FirstBank employee, who leveraged a personal relationship to conduct unauthorized transactions outside the bank’s purview.”
This development occurs amidst an ongoing legal dispute between First Bank of Nigeria Limited and General Hydrocarbons Limited (GHL) concerning an alleged debt of $225.8 million. FirstBank claims that GHL owes this sum stemming from loans provided for oil mining operations, attributing the conflict to governance issues and a lack of transparency.
Conversely, GHL has rejected these claims, alleging that FirstBank failed to fulfill its financial obligations and breached contractual agreements. The dispute has resulted in court-ordered asset freezes for GHL and a public exchange of accusations between the two entities.”
