Stanbic IBTC Bank has distanced itself from an article mentioning the bank as part of  lenders involved in scam.

According to Stanbic IBTC Bank “Our attention has been drawn to an article where Stanbic IBTC Bank was mentioned, insinuating that Stanbic IBTC Bank was part of a “scam” reported in an article titled “SHOCKING – How BVN, Other Details of Farmers Seeking Loans Under CBN Scheme Were Used To Steal Multi-Million Naira From Government Coffers”.

Kindly note that Stanbic IBTC Bank only acted on the instructions of NIRSAL Microfinance Bank in respect of all their Anchor Borrowers Programme (ABP) related transactions at the time. Stanbic IBTC never received any CBN Anchor Borrowers Programme (ABP) funds whatsoever on behalf of either Evergreen Cooperative Agro company and/or any of its promoters.

Stanbic IBTC Bank remains very committed to strong ethics, values, governance and is dedicated to always doing the right business the right way”, it noted.