UAE company urges CBN to probe extortion allegation it brought against Ecobank

A Company based in the United Arab Emirate has urged the Central Bank of Nigeria to investigate the Ecobank Transnational Incorporated, a subsidiary of Ecobank specialized in recovery of funds, over extortion claims it brought against the organization

The letter alleging extortion by the UAE-based company which was dated 26th July, 2024 and was signed by Patience Onu with the title: “Improper Conduct by Ecobank Nigeria, ETI Specialised Resolution Company Limited,” urged the apex bank to investigate their allegations within its purview as a regulatory body.

Senior executives of Ecobank were involved in the extortion attempt, the UAE Company further alleged

Checks by NationalUpdate on Thursday in Abuja, indicated that the letter has been acknowledged by the Central Bank of Nigeria and a reply has been forwarded to the complainant indicating that the apex bank would investigate the matter.

The CBN’s reply, which was issued by its Consumer Protection Department, CPD, dated Friday 26th July, 2024 partly read: “We write to inform you to acknowledge receipt of your letter dated 22nd July, 2024 on the above subject.

“Your complaint has been forwarded to Ecobank in line with our helpdesk Circular. In view of the involvement of the Consumer Protection Department, your bank may contact you in its efforts to resolve the complaint.

“The outcome of the engagement will be communicated to you as soon as possible.”

Moreso, checks indicated that the letter of complaint has also been published on the website ecobankextorts.com, alleging that Jeremy Awori, the Group CEO of Ecobank Transitional Inc, ETI, is aware of the case but has failed to stop the situation, suggesting that ETISRC’s corrupt actions have ETI’s backing.

A senior official of Ecobank, who pleaded not to be named, when contacted on Thursday, explained that the bank had In July 2021, wrote to the former Attorney General of the Federation through their legal practitioners, Wigwe & Partners, alleging that the UAE-based company were being investigated in connection with an alleged fraud perpetrated by Agrico Agbe.

He declined speaking further as he does have power to give detail of the controversy to journalists, but said further verification can be obtained on Ecobank and CBN’s website.