Financial institution not involved in management fraud

Nigerias top financial institution, Heritage Bank, has cleared itself of allegations linking it with management fraud involving bank accounts owned by the Oyo State government.

This is following reports of an investigation launched by the Economic and Financial Crimes Commission (EFCC) into the accounts.

It was reported that the bank had failed to cooperate with the EFCC due to some sort of loyalty to the Oyo State government.

But Mr. Fela Ibidapo, the Corporate Communication Group Head of Heritage Bank has denied any personal interest of the institution in the investigation.

He disclosed this to Punch News who made inquiries concerning the development.

“There is no management fraud. There is a customer’s account that the EFCC is interested in and the normal thing is to talk to the account officer.

"They are just investigating an account entry. They have invited the relationship manager. It is still being investigated and for confidential issues, I can’t divulge more than that," he said.

Wilson Uwujaren, a spokesperson for the EFCC also confirmed that the anti-graft body paid a visit to the bank but it was only a routine investigation.

According to reports gathered by the Daily TimesNews, he failed to give further details in respect to the probe.