Former Group Managing Director of FirstBank, Dr. Bisi Onasanya, has refuted allegations linking him to a controversial N30 billion commercial loan transaction that occurred 12 years ago.
In a statement released on Sunday through his communication advisor, Mr. Michael Oshunuyi, Onasanya described the claims as baseless, dismissing them as an attempt to tarnish his reputation.
The Economic and Financial Crimes Commission recently filed charges against Onasanya and three others, including former FirstBank chairman, Dr. Oba Otudeko; ex-board member of Honeywell Flour Mills, Soji Akintayo; and Anchorage Limited, a company linked to Otudeko.
The EFCC alleges that the defendants obtained the loan under false pretenses and are set to be arraigned at the Federal High Court in Lagos on Monday.
In his statement, Onasanya expressed shock at the resurfacing of a matter he claimed was thoroughly investigated and resolved eight years ago, two years after his retirement from FirstBank in 2015.
“What is baffling is that a commercial transaction that occurred in 2013 and was investigated eight years ago, where Dr. Onasanya established his innocence, has now resurfaced in 2025 in the form of criminal prosecution. This is beyond his imagination,” the statement read.
Oshunuyi further noted that Onasanya has not received any formal summons or court notice regarding the case but assured the public of his willingness to appear in court to defend his name.
Onasanya suggested that the allegations follow a deliberate, recurring pattern, with similar claims resurfacing annually across various media outlets. He urged the media to exercise caution and verify information to avoid defamation.
The statement also emphasized that Onasanya has no interest in the ownership or management of FirstBank or any financial institution, highlighting his post-banking focus on other sectors and humanitarian efforts.
Similarly, former FirstBank chairman, Dr. Oba Otudeko, dismissed the allegations against him, vowing to protect his reputation.
In a statement, Otudeko said he had not received any summons or invitation from investigative authorities but remains willing to cooperate if required. He also clarified that he is not interested in serving in any executive or non-executive capacity at FBN Holdings or any other organization.
“This includes any possibility of returning to the board of FBN Holdings Plc, which appears to be the focus of the recent unfortunate news barrage,” the statement added.
