Stanbic IBTC Bank refutes multi-million Agric scam claims

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Stanbic IBTC Bank has reacted to an article where the Bank was mentioned, with the insinuation that it was part of a “scam.”
The report appeared in an article titled ‘SHOCKING – How BVN, Other Details of Farmers Seeking Loans Under CBN Scheme Were Used To Steal Multi-Million Naira From Government Coffers’.

In a statement by its media consultants, on Monday, Stanbic IBTC Bank explained that it “only acted on the instructions of NIRSAL Microfinance Bank in respect of all their Anchor Borrowers Programme (ABP) related transactions at the time.”

It noted that: “Stanbic IBTC never received any CBN Anchor Borrowers Programme (ABP) funds whatsoever on behalf of either Evergreen Cooperative Agro company and/or any of its promoters.

“Stanbic IBTC Bank remains very committed to strong ethics, values, governance and is dedicated to always doing the right business the right way.”

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