Corporate Statement on the Alleged NPA Funds in First Bank

Proshare

Wednesday, August 17, 201611:53am /NSE

In view of the media story making the rounds on the NPA funds allegedly concealed in the Bank, the Management wishes to clarify that following the Federal Government of Nigeria's directive on the implementation of the Treasury Single Account (TSA) and the subsequent CBN’s directive to the Deposit Money Banks (DMBs) to transfer all MDAs accounts to the TSA with the CBN, FirstBank has since complied and transferred all MDAs funds including that of the NPA to the designated TSA account.

For avoidance of doubt and for the information of the general public, we do not have such funds in any of our accounts or deposit portfolio.

 

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