The legal team of UBA Group has reacted to the news making the round about the involvement of the top official of the Bank in the alleged liquidation fraud of the defunct Nigeria Telecommunications Limited (NITEL), as claimed by Senator Ayo Akinyelure, the Chairman of the Senate Committee on Ethic, Privileges and Public Petition.
According to the legal team, UBA received as shocking, the false, baseless and mischievous the allegation by Senator Akinyelure, saying that neither Elumelu nor the UBA or any other organisation associated with its client has ever been indicted in any fraud case as alleged by Senator Akinyelure.
The team, in a statement it titled: FALSE AND MALICIOUS ACCUSATION BY SENATOR AYO AKINYELURE AGAINST UBA PLC AND ITS CHAIRMAN, MR. TONY O. ELUMELU, CON., said that its client rejects the move by Senator Akinyelure to use the platform of the Senate to accomplish his motive against Elumelu and the UBA.
The statement said:
It is important to emphasise that when UBS appeared before the Senate Committee on Ethics, Privileges and Public Petitions, attaention was drawn to the fact that the facts and circumstances leading to the dispute on the alleged financial indebtedness was pending before the Supreme Court in SC/CV/112/2020. It was resolved that given the pendency of the matter at the Supreme Court, it was sub-judice and all actions on the matter be suspended. It is shocking and sacrilegious that a matter pending at the Apex Court could be subjected to debate to debate contrary to the Rules of the Senate and by extension, the principle of the law that when a matter is sub-judiced, it should not be subjected to debate before a decision is reached by the Court. Therefore, the publication ascribed to Senator Ayo Akinyelure is in total disregard of Rules of Senate and the Rule of Law.
Senator Akinyelure was, however, told to retract the statement and tender an apology for the statement credited to him, as requested by the UBA.
Recall that the bank has, last week, written to the Nigerian Stock Exchange on False Report saying that it was working with its legal team to retract the statement.