Tuesday 26 July 2016

UBA Plc Funded the Failed Turkey Coup? Nigerian Bank Speaks on Alleged Financial Support

United Bank of Africa (UBA Plc), has denied involvement in the funding of the failed coup plot in Turkey which was reported in the region of $2 billion. 

In an official statement by Charles Aigbe, the Head of Communications of the United Bank of Africa (UBA), the Nigerian bank, UBA Plc, has denied involvement in the funding of the failed coup plot in Turkey, which was widely reported worldwide.
News made rounds online few hours ago that a Turkey-based newspaper, Yenisafak, had reported that some of those arrested in connection with the July 15, 2016 failed coup plot, had told their interrogators that UBA Plc and a United States Army General, John F. Campbell, arranged for the funding of the coup plot.
The newspaper also alleged that the funds, in the region of $2 billion, was moved from the United States of America into UBA Plc from where it was funnelled to the coup plotters.
But UBA plc executive, Aigbe in a terse statement on Tuesday, said: “UBA is aware of the on-going and spurious media speculation linking our institution to recent events in Turkey.
“In light of this we believe it is necessary to categorically state that UBA has no involvement in or connection to these accusations, which are clearly false. We remain focused and firmly committed to delivering on our strategy to build Africa’s premier banking institution.”
The Independent reported that some sources in the Central Bank of Nigeria (CBN) said that there is no trace of the allegation that one of the country’s foremost financial institutions, was involved in the funding of the aborted coup plot in Turkey as alleged by a Turkey newspaper, Yenisafak.
A well-placed source, revealed that apart from the fact that the money must be routed through the CBN, the apex bank also did not report receiving such inflow or disbursing same.
“More so, it is not as if UBA has a branch in Turkey through which it could have distributed such monies. As such, if it needed to move such money out of Nigeria to Turkey, it would have required another bank with presence in Turkey or a country nearby.
“So this means the involvement of another party to the arrangement and this would, mandatorily, involve the CBN as the clearing house for the transactions,” the source said.

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