Financial institution faults campaign by defaulting debtor

First Bank of Nigeria Limited has faulted a “sponsored sensational report by some online publications on a charge brought against us.”

In a statement, the financial institution stated: “While we will not be able to offer further comments as the matter is sub judice, suffice it to say that the basis of the charge is a spurious allegation made by a delinquent debtor with the intention of embarrassing the bank and tainting the bank’s loan recovery efforts and legal enforcement of its security collateral interest in accordance with the terms thereof.

“We wish to assure our numerous customers, stakeholders and the general public that FirstBank operates by the highest standards of ethical conduct and will under no circumstances involve itself in any act of illegality, just as it will take necessary legal steps to check any attempt by recalcitrant debtors to fritter away depositors’ funds under its custody. Furthermore, FirstBank remains focused on its mission of providing the best financial services to its numerous customers.”