logo-profile

OTICE

.COM

.NG


Home of Nigeria Latest News and Updated Information
tag-iconNigerian News
tag-iconfarm tank , First Bank

Our senior officers didn’t forge signature to take over farm tank says First Bank

user_icon Posted by:
Tiamiyu Saheed Oluwatosin
views-icon Views:
56
like-icon Page likes:
0
dislike-icon Page dislikes:
0
comments-iconComments:
0
calendar-icon Posted on: 2020-05-21 15:36:42
share-icon Share(s):
0
FIRSTBANK



 

First Bank on Friday debunked the allegation that some of its principal officers forged the signature of the Operational Director of Zone 4 Energy Limited, Ola Olaniran, on some documents used to obtain an order to take over the farm tank of Zone 4 Energy Limited over an alleged non-payment of a loan.

It stated that the purported allegation by the promoters of Zone 4 Energy Limited was staged for mischief and totally false in its entirety, explaining that Zone 4 Energy Limited has maintained a business relationship with it and has been availed of Import Finance Petroleum Lifting facility following their request to support local purchase and importation of refined petroleum products, as well as the acquisition and renovation of a Tank Farm.

While reiterating that the forgery allegation is untrue and purely staged for mischief, the bank stressed in a statement, that the facilities are secured with a perfected All Asset Debenture over the financed Tank Farm located in Calabar Free Trade Zone.

DO YOU KNOW >>> Suspected cultists hack 30yr old man to death, injures two others in Delta Community

READ ALSO >>>

According to the statement, “The Bank also in the course of its business relationship with Zone 4 Energy also availed facilities to three other customers; Reeico Nigeria Limited, Broadwaters Resources Ltd and Calder Crest Nigeria Ltd the proceeds of which were) transferred to Zone 4 Energy Limited accounts in compliance with transfer instructions from Reeico Nigeria Limited, Broadwaters Resources Ltd and Calder Crest Nigeria Ltd.

“After the disbursement of funds and passage of time and the failure of Zone 4 Energy to meet its obligations to the Customers and FirstBank, the Bank had at various times engaged with the Management of Zone 4 Energy Ltd and got an undertaking to repay the debts owed the Bank. in spite of that, after protracted engagements and the Company’s failure to honour the term of its undertaking, the Bank activated a recovery process with the appointment of a Receiver Manager and instituted a receivership process to take over the financed Tank Farm.

“The allegation of a purported forgery against the Bank and its officers is a desperate attempt by the Management of Zone 4 Energy to scuttle the recovery process with spurious allegations by playing to the public gallery.”

READ ALSO >>> Self-isolate if you had contact with our late staff who died of COVID-19 – First Bank

BREAKING >>> Kwara CP warns public against imposters on social media


For All Nigeria Past Questions Visit www.QUESTION.NG

Kindly share this post on different Social Media below


COMMENTS

NOTE: User comments in this section are, as the name implies, provided by users of this website. The question.ng team is not responsible for, nor do they endorse, any of the information provided here.


NO POSTED COMMENT