Unity Bank debunks SPIPRPP’s allegations, says claims are frivolous, unfounded

Temitope Adebayo

Unity Bank has faulted the allegation against it by Special Presidential Investigation Panel for Recovery of Public Property (SPIPRPP) over the ongoing reconciliation of the affected MDA accounts.

Reacting to this development, Head, Corporate Communications of the bank, Matthew Obiazikwor, stated that the report is geared towards misinforming the public and misrepresenting the Bank’s position and nil impact resolutions reached during the reconciliation engagements.

Obiazikwor explained that in the ongoing investigation, that Unity Bank has conducted itself professionally by providing all evidence of customers’ instructions requested by the panel as it relates to all the MDAs.

According to him, Unity Bank had earlier transferred all the balances belonging MDAs to their respective TSA accounts in Central Bank of Nigeria (CBN) as far back in 2016.

“Upon approaching the Bank in 2018 to conduct investigations on the subject of MDAs, Unity Bank, as a responsible corporate citizen, cooperated with the panel accordingly.

But out of its own volition, the panel refused to admit further documentary evidence from the Bank when it was obvious that the Bank has no balances kept in its books for the MDAs.

“Instead, the panel suspended the investigation as apparently it could not fault any of the evidence presented by the Bank.”

The Panel in an earlier letter requested the Bank to accept culpability and pay off a certain sum deemed outstanding which the Bank objected and insisted on completing the reconciliation exercise because the claims presented at this point against the Bank were unfounded and frivolous

It is therefore surprising for the SPIPRPP to turn back and issue a statement alleging sabotage when it abandoned its sitting and investigation midway

Furthermore, it must be emphasized that, without prejudice to the constitutional power of Revenue Mobilization and Fiscal Allocation Commission (RMFAC) as the sole agency of government to investigate, review, reconcile and collect revenue for government,

the bank co-operated fully with SPIPRPP and its consultants in the investigation process and it was proven beyond reasonable doubt that Unity Bank has all records to show that it does its banking transactions transparently and in compliance with extant banking regulations

and at no time took charges on the MDAs that were outside what is contained in the Bankers Tariffs, which guide banking operations in Nigeria.

The bank therefore maintains that the allegations of SPIPRPP are superfluous, frivolous ill-motivated and unfounded as falsely presented in a press statement purportedly sent to the public.