Onasanya Refutes 12-Year-Old Loan Allegations, Vows to Defend Reputation

Bisi Onasanya Dismisses Baseless Claims, Reiterates Commitment to Integrity

Former Group Managing Director of First Bank, Dr. Bisi Onasanya, has categorically dismissed recent allegations linking him to a purported commercial loan transaction controversy from 12 years ago. In a statement issued through his Communication Advisor, Mr. Michael Osunnuyi, Onasanya described the claims circulating on social media as unfounded and a deliberate attempt to tarnish his impeccable reputation.

“Our attention has been drawn to allegations and a charge sheet suggesting Dr. Onasanya’s involvement in a commercial loan controversy at First Bank 12 years ago. These allegations are baseless and have been consistently ignored for over a decade,” Osunnuyi said.

He further explained that the matter in question had been thoroughly investigated by the Economic and Financial Crimes Commission (EFCC) eight years ago, two years after Onasanya voluntarily retired as Group Managing Director. The investigation reportedly cleared Onasanya of any wrongdoing, and since then, he has not been contacted or summoned by any authority regarding the issue.

A Career Defined by Integrity
Dr. Onasanya’s career at First Bank spanned decades of dedicated service, during which he earned a stellar reputation for professionalism and integrity. The statement emphasized that these principles remain central to his identity and are not subject to distortion by baseless allegations.

“This attempt to revive a commercial transaction from 2013, which was already investigated and dispensed with, is beyond comprehension. Dr. Onasanya has always been available to cooperate with law enforcement and remains ready to defend his name if summoned,” the statement read.

Pattern of Defamation
Osunnuyi pointed out a troubling pattern in which similar allegations resurface annually, using identical language and being disseminated across multiple media platforms. He accused unnamed individuals of orchestrating a smear campaign to manipulate public perception.

“We appeal to the media to verify information before publication. The consequences of spreading false allegations are serious and could amount to libel. These repeated attacks appear to be a calculated effort to tarnish the image of a man who has long exited the banking industry,” Osunnuyi added.

A Life Beyond Banking
Since leaving First Bank in 2015, Dr. Onasanya has focused on other ventures and contributions to society, steering clear of any involvement in the management or ownership of financial institutions. The statement clarified that Onasanya has no interest in revisiting his banking career and remains dedicated to making a positive impact in other sectors.

Gratitude and Resolve
Expressing gratitude to his family, friends, and associates for their unwavering support, Onasanya assured them of his commitment to clearing his name. He vowed to leave no stone unturned in exposing the truth and protecting his hard-earned reputation.

“We are confident that justice will prevail and the truth will come to light. Dr. Onasanya remains committed to upholding his unblemished record and will continue to cooperate with the law to resolve this matter,” the statement concluded.

This saga underscores the importance of due diligence in reporting and the resilience required to maintain integrity in the face of unsubstantiated claims. For Onasanya, the focus remains on upholding the values that defined his successful career, with confidence that the truth will ultimately prevail.