The United Bank for Africa (UBA) has decried the media report of a N41 billion indictment of its Chairman and former CEO, Tony Elumelu describing the report as untrue, misleading, malicious, libellous and should be disregarded in its entirety.
Some online blogs had reported that Elumelu was indicted in a N41 billion Nitel fraud, this prompted the bank to issues a statement denying the report urging the public to disregard the story.
The bank’s publication signed by Bili A. Odum, the Company Secretary reads, “The attention of United Bank for Africa (UBA) has been drawn to false reports circulating in the media alleging that UBA and some of its principal officers have been indicted in a NGN41 Billion fraud involving NITEL in Liquidation.
“We would like to use this medium to inform the general public that the reports are untrue, misleading, malicious, libellous and should be disregarded in its entirety.
“UBA has set in motion all appropriate legal actions to ensure that the misleading reports are retracted and the perpetrators held accountable for their actions.
“UBA is a reputable global brand and responsible corporate citizen, operating in multiple jurisdictions, and 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”