UBA Responds To False reports regarding NGN41 Billion fraud involving NITEL’s Liquidation

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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.

This was disclosed in a statement issued by the company secretary, Bili A. Odum via the Nigerian Stock Exchange and made available to Brand Spur.

The statement reads:

“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.”

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