A former Group Managing Director of First Bank, Dr. Bisi Onasanya, has dismissed allegations circulating on social media, suggesting his involvement in a purported commercial loan facility transaction controversy carried out 12 years ago at First Bank.
In a statement released to the press over the weekend, Onasanya, who spoke through his Communication Advisor, Mr. Michael Oshunuyi, described the claims as baseless and an attempt to tarnish the stellar reputation of the renowned retired banker and Chartered accountant.
“Our attention has been drawn to allegations and charge sheets circulating on social media suggesting Dr. Bisi Onasanya’s involvement in a purported commercial loan controversy at First Bank 12 years ago,” Oshunuyi said.
“While we have consistently chosen to ignore such baseless attacks for over ten years, the growing concern expressed by family, friends, and associates from across the globe compels us to address these unfounded claims.”
The Communication Advisor said that Dr. Onasanya served First Bank with dedication and integrity throughout his illustrious career.
“His stellar reputation of integrity, built over four decades of impeccable professional service, cannot and will not be tarnished by these false allegations and incorrect charges,” the statement noted.
According to the statement, the matter in question was investigated eight years ago by the Economic and Financial Crimes Commission two years after Dr. Onasanya had voluntarily and meritoriously retired from the bank as the group managing director upon the completion of two terms in office.
Since then, Dr. Onasanya has not been contacted on this matter and has remained willing to support and cooperate with the law enforcement if required.
“What is baffling,” the statement continued: “Is that a commercial transaction which occurred in 2013 and was thoroughly investigated eight years ago, where Dr. Onasanya established his innocence and non-involvement in the commercial transaction controversy, has now resurfaced in 2025 in the form of criminal prosecution. This is beyond his imagination.”
