New Telegraph

Wema Bank faults report on money laundering, bribery

Wema Bank Plc has denied a media report in which allegations of money laundering and bribery were made against some of its management staff. In a rejoinder to the report, the bank, which urged the general public to ignore the publication, stated that the allegations were completely false.


The lender said it has engaged its solicitors to institute appropriate legal action on the matter.


The statement partly read: “The attention of the Bank has been drawn to recent reports in the media on money laundering and bribery allegations on certain customer’s transaction.


“The publication went ahead to mention the names of certain Wema Bank management staff to be allegedly involved in the said transaction.


“The Bank wishes to state categorically that there is no merit in the article, and it is a malicious publication against members of our staff and the Bank’s customer. “The said allegations are 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.”

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