The former Group Managing Director of First Bank of Nigeria (FBN) Limited, Bisi Onasanya. has denied involvement in a N12.3 billion fraud.
Onasanya was accused of allegedly looting N12.3 billion from First Bank.
In a statement released to the press over the weekend, Onasanya, who spoke through his Communication Advisor, Mr. Michael Oshunuyi, described the claims as baseless and an attempt to tarnish the stellar reputation of the renowned retired banker and Chartered accountant.
“Our attention has been drawn to allegations and charge sheet circulating on social media suggesting Dr. Bisi Onasanya’s involvement in a purported commercial loan controversy at First Bank 12 years ago,” Oshunuyi said.
“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.”
“What is baffling is that a commercial transaction that occurred in 2013 and was thoroughly investigated eight years ago, during which Dr. Onasanya established his innocence and non-involvement, has now resurfaced in 2025 as a criminal prosecution. This is beyond comprehension.
“It appears to be a hatchet job by unscrupulous individuals seeking to manipulate public perception,” he said. “We strongly appeal to the media to act responsibly and verify the information they publish. Dr. Onasanya has endured years of baseless attacks since his voluntary exit from the banking industry, but this recent development is particularly alarming.”
Recall that a Federal High Court in Lagos fixed Jan. 20, for arraignment of Onasanya and chairman of the Honeywell Group, Oba Otudeko over alleged N12.3 billion fraud.