WEMA BANK CLEAR THE AIR ON BRIBERY AND MONEY LAUNDERING ALLEGATIONS - Global Report

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Sunday, April 24, 2022

WEMA BANK CLEAR THE AIR ON BRIBERY AND MONEY LAUNDERING ALLEGATIONS





 
.....states news malicious and fake



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.
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.
We urge the general public to ignore the false information being circulated. The Bank has 
already engaged its solicitors to institute appropriate legal action.

Signed
Wema Bank 
Marketing Communications & Investor Relations


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