Wema Bank Counters Money Laundering And Bribery Claim, Reveals Perpetrator

Wema Bank Counters Money Laundering And Bribery Claim, Reveals Perpetrator

Wema Bank has described a recent report on money laundering and bribery allegations on certain customer’s transaction as false and malicious.

The Bank added that the article which lacked merit was a malicious attack against its staff and customer.

The said publication had mentioned names of certain Wema Bank management staff to be allegedly involved in the controversial transaction.

The Bank in a statement on Sunday revealed that the “allegations were being peddled by an aggrieved 3rd 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.”

“Specifically, on Tuesday March 15, 2022, the case no. MIK/B/6/2022–Commissioner of Police vs. Adewole Isaac & 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 and the defendants discharged following the Legal Advice from the Office of the Director of Public Prosecution (DPP), Lagos State that no prima facie case has been established against the defendants,” the statement added.

The top lender urged the general public to ignore the false information being circulated, reassuring that it has already engaged its solicitors to institute appropriate legal action.