BY COBHAM NSA – Jaiz Bank Plc has distanced itself from an unfolding ₦104 million institutional fraud scandal in Jos, the Plateau State capital, insisting its hands are clean in a now-disputed investment arrangement.
Amid allegations of underhand deal concerning the controversial amount, the Bank’s management, in a statement titled: “JAIZ BANK CLARIFIES ALLEGED ₦104M INVESTMENT TRANSACTIONS IN ITS JOS BRANCH”, volunteered thus; “Jaiz Bank Plc wishes to address recent media reports alleging institutional fraud involving a disputed ₦104 million investment arrangement in Jos, Plateau State.”
The statement, which was issued by its Corporate Communications Department on Wednesday, said: “Following a comprehensive review of transactions involving a former employee and some complainants, Jaiz Bank clarifies that:
1. The disputed funds were never received, booked, or registered under any official Jaiz Bank investment product or account;
2. Internal records show no evidence of Bank-authorized investments, but rather indicate private transactions between the complainants and the former employee; and
3. The transaction details provided by the complainants do not align with Jaiz Bank’s established operational, regulatory, or authorization protocols.
Furthermore, the statement said: “As the matter is pending before the High Court of Justice of Plateau State, Jaiz Bank urges the public and media to avoid drawing premature conclusions based on unverified public narratives.”
While assuring its customers of continued transparency and commitment to effective service delivery in their operations, the statement said: “Jaiz Bank remains fully committed to ethical, Shari’ah-compliant finance, transparency, and cooperation with regulatory and judicial authorities to ensure a fair resolution.”
