Dr. Bisi Onasanya, the former Group Managing Director of First Bank, has refuted allegations suggesting his involvement in a commercial loan facility controversy that supposedly occurred 12 years ago at the bank. In a statement released over the weekend, Onasanya, through his communication advisor, Mr. Michael Oshunuyi, dismissed the claims as baseless and part of an effort to damage his esteemed reputation.
The statement emphasised that while the allegations have been circulating for over a decade, the increasing concern from family, friends, and associates prompted Onasanya to address the matter publicly. According to Oshunuyi, Dr. Onasanya’s reputation, built over four decades of dedicated service, cannot be tarnished by these false accusations.
The statement clarified that the issue had been thoroughly investigated eight years ago by the Economic and Financial Crimes Commission (EFCC) after Dr. Onasanya had retired from First Bank. It further noted that since the investigation, Dr. Onasanya had not been contacted or charged in relation to the matter.
Onasanya expressed surprise that a commercial transaction from 2013, which was fully investigated and cleared, was now being reintroduced as a criminal case in 2025. He remains open to cooperating with law enforcement if required. The statement also pointed out a recurring pattern in the release of these allegations, with identical language and content appearing each year across various media platforms, suggesting a deliberate attempt to tarnish his image.
“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.”
Dr. Onasanya emphasised that he has never been involved in the control or ownership of First Bank or any other financial institution since his departure from the banking sector in 2015. He remains committed to positively impacting other sectors of the economy. Despite the repeated attacks on his character, he assured his supporters that he would continue to uphold his integrity and fight to clear his name.
