First Bank Dismisses Allegations of N7billion Fraud

First Bank of Nigeria has dismissed allegations of a N7billion fraud case, describing the claims as “unfounded” and “unsupported by any factual evidence.”

In a statement by the bank’s Acting Group Head, Marketing & Corporate Communications, Olayinka Ijabiyi, First Bank maintained that the allegations were entirely false and lacked substance.

The bank stated, “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.”

First Bank highlighted its outstanding reputation for solid relationships, good corporate governance, and a strong liquidity position, emphasizing its commitment to promoting digital payment in the country.

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The bank noted that it had received numerous international awards and recognitions, including being named “Best Bank for ESG 2024” and “Best Bank for Corporates 2024” by Euromoney Awards for Excellence.