Ahead of a Senate Committee on Ethics, Privileges and Public Petitions hearing on the allegation of a N41 billion fraud concerning the defunct Nigeria Telecommunication Company (NITEL) involving Mr Tony Elumelu, Chairman, UBA Plc, the leading bank has threatened legal actions against the perpetrators of the malicious report.
This is according to a statement signed by Bili Odum, Company Secretary, UBA Plc who disclosed that the bank is ready to pursue every means to ensure that the misleading reports are retracted and the perpetrators held accountable for their actions.
Read also: Revealed! How $10 Million Lawsuit, Online Shopping Forced ShopRite To Consider Exiting Nigeria
“We have set in motion all appropriate legal actions to ensure that the misleading reports are retracted and the perpetrators held accountable for their actions” the statement reads.
The Bank also described the report as “untrue, misleading, malicious, libelous”
Recall that a report had emerged that Mr Tony Elumelu, chairman, UBA Plc, was allegedly involved in a N41 billion fraud, concerning the defunct Nigeria Telecommunication Company (NITEL).
Mr Elumelu was allegedly indicted for the alleged scam alongside some of the principal officers of the financial institution. It was alleged that the issue happened when Mr Elumelu was the Managing Director of the bank and that the money was allegedly withdrawn by the bank without appropriate approval.
“The said sum was withdrawn systematically from NITEL for nine years under Tony Elemelu’s watch and two other former Managing Directors of United Bank for Africa,” Akinyelure, Senate Committee chairman on Ethics, Privileges and Public Petitions reportedly said.
Read also: U.S-China Tension: Trump Gives Ultimatum For TikTok Sale In America
In a swift response, the lender said the reports were “untrue, misleading, malicious, libellous and should be disregarded in its entirety saying UBA as a “reputable global brand and responsible corporate citizen, operating in multiple jurisdictions will continue to conduct its business in line with global best corporate governance practices, extant laws and regulations, as it has done in over 70 years of operations” the statement said.
In view of this, the senate committee summoned Mr Kennedy Uzoka, Group Managing Director/CEO of UBA, to appear before it on Wednesday, August 5, 2020.
