Court Case: Debtor Frustrating Loan Recovery – FirstBank

First Bank of Nigeria has said the recent online publication of a court case involving it is part of efforts by a delinquent debtor with the intention of embarrassing the Bank and frustrating its loan recovery drive.

The bank’s managing director and three others have been reportedly charged with allegations bordering on forgery.

However, reacting to the development, First Bank, which said it would amount to subjudice to comment on the details of the matter, stressed that it will take necessary legal steps to check any attempt by recalcitrant debtors to fritter away depositors’ funds under its custody.

“While we will not be able to offer further comments as the matter is subjudice, suffice it to say that the basis of the charge is a spurious allegation made by a delinquent debtor with the intention of embarrassing the Bank and tainting the Bank’s loan recovery efforts and legal enforcement of its security collateral interest in accordance with the terms thereof.”

“We wish to assure our numerous customers, stakeholders and the general public that FirstBank operates by the highest standards of ethical conduct and will under no circumstances involve itself in any act of illegality just as it will take necessary legal steps to check any attempt by recalcitrant debtors to fritter away depositors’ funds under its custody,” it said in a statement.

The bank said it remained focused on its mission of providing the best financial services to its numerous customers.