Union Bank of Nigeria Plc has dispelled media reports of N1.6billion fraud from its vaults.

The bank issued a statement to correct any misinformation about it.

The bank has said in a statement by Friday Atufe,, COO, Strategic Effects Limited, that,  “The attention of Union Bank of Nigeria Plc (“Union Bank” or “the Bank”) has been drawn to reports of an alleged court action regarding a 1.6 Billion Naira fraud case involving a staff of Union Bank and other individuals.

“A large portion of the published reports are factually inaccurate and patently false; therefore, Union Bank seeks to make the following categorical clarifications:”

The statement adds that, “Union Bank was not defrauded by any syndicate”, adding ,”No staff of Union Bank was involved in any criminal activities or named in the alleged charge

“We understand that the alleged court action may be related to a legacy case dating back to 2018, in which a criminal suit was brought by the Police in response to a complaint made by Union Bank’s debt recovery agent against a defaulting customer.

“We urge media outlets of repute to reflect the correct facts in reporting this matter and avoid any recourse to sensationalism or inaccurate coverage.”

You recall that Union Bank Staff was allegedly said to have  olliduded with fraudsters to defraud bank of depositors N1.6bn

It was gathered that, there seem to be some huge trouble with a few top staff of Union Bank of Nigeria Plc who were accused of allegedly colluding with a five-man fraud syndicates to defraud the bank the sum of N1, 626, 139, 795, 12 billion depositors’ money.

Our Correspondent reports that the fraud syndicates, in connivance with some high-ranking staff of the bank, were said to be three Lebanese and two Nigerians, who have fled the country, but Union Bank is hoping to recover the loot and bring the fraudsters to book.

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