First Bank seeks clarification on alleged N11.2B fraud

First Bank of Nigeria on Saturday denied any involvement in the alleged N11.2 Billion fraud at Nigerian Ports Authority (NPA).

  An online medium, PREMIUM TIMES had on Saturday reported  that the newmanagement of the Nigerian  Ports Authority has uncovered an alleged  fraud totalling N11.23 billion.

   According to the report, out of the amount, six million Euros (N2.09billion at N348 to a dollar) were found concealed in two banks – First Bank of Nigeria and First City Monument Bank.

 Another $24.1million (N7.47billion at N310 per dollar) was allegedly traced to Heritage Bank, the successor bank to the defunct Societe Generale Bank.

  But, speaking with City BusinessNews, a source with First Bank media department denied any wrongdoing on the part of the Bank.

  The source said: “We read the report. But, what are they saying? Are they sure the money was deposited at First Bank?  How do you expect us to know if the money was declared  in a hand over note or not. We need more details before we can respond through a press statement”.