Wema Bank Defends Staff From Allegations Of Money Laundering; Says Court Has Exonerated Them

Wema Bank Plc said its attention has been drawn to recent reports in the media on money laundering and bribery allegations on certain customer’s transaction.

Wema Bank, while urging the general public to ignore as false the information being circulated, also noted that the bank has already engaged its solicitors to institute appropriate legal action.

The bank said in a statement debunking the claim on money laundering and bribery that “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 statement signed by Wema Bank’s marketing communications and investor relations reads: “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 versus 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.”