By Seun Ibiyemi
SunTrust Bank Nigeria Limited has dismissed online reports alleging that its Managing Director and Executive Director have been remanded in custody, calling the claims false and misleading.
The clarification comes following the arraignment of Halima Buba, the bank’s Managing Director and Chief Executive Officer, and Innocent Mbagwu, the Executive Director and Chief Compliance Officer, by the Economic and Financial Crimes Commission (EFCC) on Friday.
Both executives appeared before Justice Emeka Nwite of the Federal High Court in Abuja on charges relating to alleged money laundering.
In a statement issued over the weekend, Chinonso Atuegwu, Head of Corporate Communications at SunTrust Bank, confirmed that the court granted bail to both executives and that all bail conditions have been fully met.
“We wish to clarify that while our Managing Director and Executive Director were before the court earlier today, the court has granted them bail, and they have since perfected all bail conditions,” the statement read.
“They are not in custody, contrary to the inaccurate reports being widely circulated.”
Atuegwu noted that the bank’s executives continue to cooperate fully with the relevant authorities and affirmed that the bank remains steadfast in supporting the ongoing legal proceedings.
“We would like to reassure our esteemed customers, partners, and stakeholders that the operations of SunTrust Bank remain uninterrupted and that the bank is committed to delivering excellent service across all touchpoints,” he said.
He added that, in view of the matter now being before the court, the bank would refrain from making additional public statements.
Atuegwu concluded by expressing gratitude to the public for their continued trust and understanding during this period.