By Abiodun Folarin
WorldStage— Jaiz Bank Plc has denied allegations of institutional fraud involving a disputed ₦104 million investment transaction linked to its Jos branch in Plateau State, insisting that the funds were never received or recorded under any of its official investment products.
The bank, in a statement issued by its Corporate Communications Department, said an internal review of transactions involving a former employee and some complainants found no evidence of bank authorised investments.
According to Jaiz Bank, its records indicate that the disputed transactions were private dealings between the complainants and the former employee, rather than investments conducted through the bank’s approved operational channels.
It further stated that details of the transactions presented by the complainants did not conform to its established operational, regulatory and authorisation procedures.
The bank’s clarification follows recent media reports alleging institutional fraud arising from the disputed ₦104 million investment arrangement in Jos.
Jaiz Bank noted that the matter was currently before the High Court of Justice of Plateau State, urging the media and members of the public to avoid drawing premature conclusions from unverified accounts while judicial proceedings remain ongoing.
The financial institution reaffirmed its commitment to ethical and Shari’ah compliant banking, transparency and cooperation with relevant regulatory and judicial authorities to ensure a fair resolution of the matter.
It also maintained that it would continue to uphold its institutional standards and operational procedures.
