ASCSN Transaction: Unity Bank Says it Acted with Authority of Customer
Unity Bank Plc has clarified that it acted with the clear mandate and instructions of the Association of Senior Civil Servants of Nigeria, ASCSN in the management of their funds held with them.
In a statement by Matthew Obiazikwor, Head Corporate Communications, Unity Bank confirmed that it has conducted an investigation into the transactions, which completely absolved it of any wrongdoing as all transactions by the group was in line with their mandate and instructions.
The statement read: “The attention of the Bank has been drawn to the action of Association of Senior Civil Servants of Nigeria (ASCSN) in Abeokuta. Going by all available records regarding the ASCSN account and transactions, Unity Bank hereby states that there’s completely no wrongdoing on the part of the Bank who acted professionally in the interest of the Association.
“Till date, the Bank has thus carried out all financial transactions in line with the mandate, instructions and authority of the customer (ie the Association of Senior Civil Servant of Nigeria).”
The statement further added that “Until proven otherwise, the Bank can therefore not be held liable for any complaints of ASCSN since the instructions for the transfer of the sum of money totalling N54.8 million were duly authorised by the association.
“The Bank, in carrying out the transactions sent SMS notifications as well as rendered periodic account statements of the financial activity on the account.
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“The Bank wishes to advise members of ASCSN to await the outcome of the reconciliation to determine if the mandate upon which the Bank acted fails to tally with the authorised signatories submitted by the association.”
It explained that “the CBN is aware of the issues and we held a meeting with them last Friday but the people picketing the Bank are merely embarking on a needless smear campaign instead awaiting the outcome of the reconciliation process.”
ASCSN TRANSACTION: UNITY BANK ACTED WITH AUTHORITY OF CUSTOMER
The attention of the Bank has been drawn to the action of the Association of Senior Civil Servant of Nigeria (ASCSN) in Abeokuta. Going by all available records regarding the ASCSN account and transactions, Unity Bank hereby states that there’s completely no wrongdoing on the part of the Bank who acted professionally in the interest of the Association.
To date, the Bank has thus carried out all financial transactions in line with the mandate, instructions and authority of the customer (ie the Association of Senior Civil Servant of Nigeria).
Until proven otherwise, the Bank can therefore not be held liable for any complaints of ASCSN since the instructions for the transfer of the sum of money totalling N54.8m were duly authorised by the association.
The Bank, in carrying out the transactions sent SMS notifications as well as rendered periodic account statements of the financial activity on the account.
The Bank wishes to advise members of ASCSN to await the outcome of the reconciliation to determine if the mandate upon which the Bank acted fails to tally with the authorised signatories submitted by the association.
The CBN is aware of the issues and we held a meeting with them last Friday but the people picketing the Bank are merely embarking on a needless smear campaign instead (of) awaiting (the) outcome of the reconciliation process.
ASCSN Transaction: Unity Bank Says it Acted with Authority of Customer
