Former Group Managing Director of First Bank, Dr. Bisi Onasanya, has firmly refuted allegations linking him to a purported commercial loan facility controversy dating back 12 years. The claims, which recently resurfaced on social media, have been described as baseless and an attempt to tarnish his hard-earned reputation.
In a statement issued over the weekend through his communications advisor, Mr. Michael Oshunuyi, Onasanya dismissed the allegations as unfounded. Oshunuyi emphasized that the retired banker and chartered accountant has consistently maintained his innocence regarding the matter, which was previously investigated and resolved eight years ago.
“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 stated. “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.”
Highlighting Dr. Onasanya’s integrity, Oshunuyi stressed that his four-decade-long career in banking and finance has been marked by dedication and professionalism.
“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 affirmed.
The statement also questioned the resurfacing of the issue in 2025, despite a thorough investigation conducted years earlier that exonerated Onasanya.
“What is baffling,” it 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, has now resurfaced in the form of criminal prosecution. This is beyond his imagination.”
Furthermore, it was clarified that Dr. Onasanya has not been served with any charges, summoned, or formally invited by any court or investigating body regarding the matter.
As the controversy circulates, Onasanya remains resolute in defending his reputation against what he considers a baseless attack on his legacy.
