Management Addresses Union Bank’s Alleged 1.6 Billion Naira Fraud

Management Addresses Union Bank’s Alleged 1.6 Billion Naira Fraud

Union Bank of Nigeria Plc (“Union Bank” or “the Bank”) has been made aware of reports of an alleged legal proceeding concerning a 1.6 billion Naira fraud case involving Union Bank employees and other people.

Since many of the reports that have been published are demonstrably erroneous and factually incorrect, Union Bank would like to categorically clarify the following:

There was no syndicate that defrauded Union Bank.

No Union Bank employees were allegedly involved in any unlawful activity or mentioned in the claim.

We understand that the purported legal action may be connected to a previous case from 2018 in which the Police filed a criminal charge after receiving a complaint from Union Bank’s debt collection agent about a noncompliant client.

We kindly request that reputable media outlets convey this story accurately and without resorting to sensationalism or misinformation.

 

 

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