Wema Bank Debunks Money Laundering, Bribery Report

Wema Bank

Wema Bank has debunked recent reports in the media linking it with money laundering and bribery on certain customer transactions. The publication, as the bank stated, went ahead to mention the names of certain Wema Bank management staff to be allegedly involved in the said transaction.

The Bank, according to a statement sent by its Marketing Communications and Investor Relations Department, argued that there is no merit in the article, and “it is a malicious publication against members of our staff and the bank’s customer.”

The said allegations, as the bank put it, “are being peddled by an aggrieved third party, Timi Popoola, who voluntarily released his property to be used as part of the collateral to secure a loan obtained by the bank’s customer.”

Related News

Specifically, on Tuesday, March 15, 2022, the case no. MIK/B/6/2022–Commissioner of Police vs. Adewole Isaac and Kingsley Ananwude, for alleged stealing and money laundering involving N1.7billion was struck out by Magistrate A.O. Layinka (Mrs.) of the Magistrates Court, Ikeja. The defendants were discharged following the Legal Advice from the Office of the Director of Public Prosecution (DPP), Lagos State that no prima facie case had been established against them.

The bank, therefore, urged the general public to ignore the false information being circulated. The Bank has already engaged its solicitors to institute appropriate legal action.

Load more