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Onasanya Rejects Fraud Allegations Made by EFCC

Dr. Bisi Onasanya, the former Group Managing Director of First Bank, has firmly rejected allegations linking him to a supposed commercial loan controversy from 12 years ago at the bank. In a statement released over the weekend through his communications adviser, Mr. Michael Oshunuyi, Onasanya described the claims as groundless and an attempt to damage the distinguished reputation of the retired banker and chartered accountant.

“Our attention has been drawn to allegations and charge sheets circulating on social media suggesting Dr. Bisi Onasanya’s involvement in a purported commercial loan controversy at First Bank 12 years ago. While we have consistently chosen to ignore such baseless attacks for over ten years, the growing concern expressed by family, friends, and associates from across the globe compels us to address these unfounded claims,” Oshunuyi said.

Oshunuyi emphasised that Dr. Onasanya served First Bank with dedication and integrity throughout his distinguished career. “His stellar reputation, built over four decades of impeccable professional service, cannot and will not be tarnished by these false allegations and incorrect charges,” he stated.

The dispute in question was investigated eight years ago by the Economic and Financial Crimes Commission (EFCC), two years after Dr. Onasanya retired from the bank, having completed two terms as Group Managing Director. Oshunuyi clarified that since then, Dr. Onasanya had not been contacted or implicated further. “Dr. Onasanya remains willing to cooperate with law enforcement if required,” he added.

Oshunuyi expressed surprise that a commercial transaction from 2013, which had already been fully investigated and cleared by the EFCC, is now resurfacing in 2025 as part of a new criminal prosecution. “What is baffling is that a matter thoroughly investigated eight years ago, where Dr. Onasanya proved his innocence, has resurfaced in this manner,” he said.

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Moreover, Dr. Onasanya has not been served with any charges or formally summoned by any court or investigative agency regarding the issue since the investigation concluded. He has stated that he is available in Nigeria to face any legal proceedings to clear his name.

Oshunuyi also pointed out a troubling pattern: the same language and content of these allegations appear annually across different media platforms, suggesting a coordinated effort to undermine Dr. Onasanya’s reputation. “We have noticed a pattern of identical language and content being circulated across various media platforms, suggesting a deliberate attempt to manipulate public perception. It looks more like a hatchet job by some unscrupulous people to continue to malign and tarnish the image of Dr. Onasanya,” Oshunuyi said.

He urged media outlets to verify information before publication, stressing the potential legal consequences of spreading defamatory content. “We strongly appeal to the media to verify the information they disseminate and act responsibly. Since voluntarily leaving First Bank and the banking industry in 2015, Dr. Onasanya has endured and ignored incessant and unwarranted attacks on his person. These persistent efforts to malign his character are deeply regrettable and baseless,” he added.

 

 

 

 

 

 

Content Credit| Agbetan Bisola

Picture Credit | https://abntv.com.ng/

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