First Bank denies fraud allegations, blames ex-employee for unauthorised transactions

• First Bank stated that since the case is before the court, it will refrain from making further comments on the issue.
• The bank has reported the matter to law enforcement agencies, leading to an ongoing investigation into the allegations.

First Bank has refuted fraud accusations in a legal case brought against it by a customer, Agbai Eke, over disputed transactions.

In a statement released on Saturday, the bank dismissed the allegations as “entirely unfounded and false,” blaming the issue on “unprofessional and unethical dealings” involving Eke and an ex-employee.

“We can affirm that the allegations of fraud in the Bank as alluded to by ‘Dr. Agbai Eke’ are entirely unfounded and false,” the bank said.

“Our findings on the matter indicate unprofessional and unethical dealings between Agbai Eke and a former FirstBank employee, using a personal relationship to facilitate unauthorised transactions outside the bank’s knowledge or involvement.

“As the matter is currently before the court, we will refrain from further comments to allow the Court to dispassionately determine the issues before it.”

The bank disclosed that it had reported the matter to security agencies, who have since launched an investigation into the case.

First Bank further stated that the individuals involved had given valuable statements that are assisting the authorities in their inquiries.

Reiterating its dedication to openness, responsibility, and safeguarding customers’ interests, the bank reassured stakeholders of its unwavering commitment to professionalism and ethical standards.