First Bank Denies Losing Billions to Fraud Incident
First Bank of Nigeria (FBN) Limited has denied losing N7 billion to Fraud incident, according to an official statement released by the financial institution, without providing further details.
An online news platform has reported that the Nigeria’s oldest bank, was hit by a massive fraud incident that led to the theft of ₦7 billion from customer accounts by unknown persons.
“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”, Olayinka Ijabiyi, Acting Group Head, Marketing & Corporate Communications said in an email notice.
This is coming following a recent report that the group chairman asked Folake Ani-Mumuney, the bank’s Global Head of Marketing and Corporate Communications to step down.
Otedola was upset after learning of the extravagant send-off party organised for Adesola Adeduntan, the former Group Managing Director (GMD) of the bank.
Adeduntan, who served as GMD for nine years, was reportedly forced to resign in April 2024 over alleged negligence linked to a N60 billion electronic fraud case. #First Bank Denies Losing Billions to Fraud Incident#
