Dr. Bisi Onasanya, a former Managing Director of FirstBank, has denied involvement in a loan fraud case from 12 years ago.
In a statement by his advisor, Michael Oshunuyi, Onasanya called the accusations false and aimed at damaging his reputation.
Onasanya, along with three others, is accused by the Economic and Financial Crimes Commission (EFCC) of securing a N30 billion loan under false pretenses. The EFCC has filed charges, and the defendants are set to appear in court.
The other accused include former FirstBank chairman, Oba Otudeko, ex-Honeywell Flour Mills board member, Soji Akintayo, and Anchorage Limited, linked to Otudeko.
Oshunuyi highlighted that the EFCC investigated the case eight years ago, after Onasanya had retired, and found no wrongdoing. He criticized the resurfacing of the issue as criminal charges in 2025. “What is baffling is that a commercial transaction that occurred in 2013 and was thoroughly investigated eight years ago, where Dr. Onasanya established his innocence and non-involvement in the commercial transaction controversy, has now resurfaced in 2025 in the form of criminal prosecution. This is beyond his imagination,” Oshunuyi said.
Onasanya has not been officially summoned or served charges but is ready to clear his name in court. He urged media outlets to verify information before publication, citing the dangers of spreading false accusations.
Otudeko also dismissed the allegations, stating his readiness to defend his reputation. He clarified he has no intention of returning to any executive or non-executive role in FBN Holdings or elsewhere, except his current positions.
Both Onasanya and Otudeko emphasized their commitment to transparency and professionalism in any government inquiries.
