Dr. Bisi Onasanya, the former Group Managing Director of First Bank PLC, has vehemently rejected recent social media claims linking him to a controversial commercial loan transaction that allegedly occurred 12 years ago. In a statement issued this past weekend, Onasanya, through his Communication Advisor, Mr. Michael Oshunuyi, dismissed the accusations as baseless and part of an ongoing effort to damage the reputation of the respected retired banker and chartered accountant.
“These allegations, circulating on social media, suggest Dr. Bisi Onasanya’s involvement in a loan controversy at First Bank from twelve years ago,” Oshunuyi said. “While we have ignored such claims for the past decade, the concerns raised by friends, family, and associates around the world have compelled us to respond.”
Onasanya, who is known for his dedication and integrity throughout his distinguished career, has built a reputation over four decades that cannot be undermined by false accusations, Oshunuyi emphasized in the statement.
The Communication Advisor went on to clarify that the matter in question had already been investigated by the Economic and Financial Crimes Commission (EFCC) eight years ago, following Dr. Onasanya’s retirement from the bank after completing two terms as the group managing director. Dr. Onasanya, who voluntarily retired in 2015, has not been contacted by any law enforcement agency about the issue since the investigation concluded. He remains open to cooperating with authorities if necessary.
“What is perplexing,” the statement continued, “is that a matter fully investigated in 2013, which cleared Dr. Onasanya of any wrongdoing, is now resurfacing in 2025 as part of a supposed criminal prosecution. This is completely unfathomable.”
Dr. Onasanya has not received any formal charges, summons, or court invitations related to these allegations since the investigation concluded years ago. He made it clear that he is available in Nigeria to address any legal proceedings and clear his name.
Oshunuyi also pointed out that these recurring allegations follow a suspicious pattern, with identical language and content spreading across various media platforms. He suggested that these efforts are part of a coordinated attempt to undermine Dr. Onasanya’s reputation and urged the media to exercise caution and verify the accuracy of the information before publishing.
“We have observed a consistent repetition of the same content across multiple platforms, which appears to be a deliberate attempt to manipulate public opinion. This looks like a calculated effort by individuals with malicious intent to tarnish Dr. Onasanya’s name. We strongly urge the media to verify the facts they report and act responsibly,” Oshunuyi stated.
The Communication Advisor further explained that since Dr. Onasanya’s voluntary departure from First Bank and the banking industry in 2015, he has faced and ignored repeated, unwarranted attacks on his character. These ongoing efforts to besmirch his reputation are regrettable and groundless, Oshunuyi stressed.
The statement also made it clear that Dr. Onasanya has never been concerned with who controls or owns First Bank or any other financial institution, as he has since shifted his focus away from banking and toward making a positive impact in other sectors of the economy.
Dr. Onasanya expressed gratitude to his family, friends, and associates for their unwavering support, which has given him strength in the face of these baseless attacks. He assured them that he will continue to uphold the values that have defined his career and life and will leave no stone unturned in defending his reputation and exposing the truth, no matter the cost.
“We are confident that the truth will prevail, and justice will be served,” the statement concluded. “Dr. Onasanya remains committed to preserving his spotless record and will fully cooperate with the law to clear his name.”