By Aduragbemi Omiyale

Stanbic IBTC Bank Plc management has reacted to reports that it has N83 billion in unclaimed funds in its possession, describing it as misleading and not representing the facts.

The House of Representatives is looking into claims that around N1.2 trillion in unclaimed funds are sitting in some commercial banks across the country instead of in federal government coffers, especially at a time when the country was facing low income to carry out his responsibilities.

In the report, it is alleged that the Lower House of the National Assembly requested Stanbic IBTC Bank and First Bank of Nigeria Limited to hand over the sum of N97 billion to the Nigerian government.

But in a statement, Stanbic IBTC Bank said it had provided all information requested by the House of Representatives ad hoc committee and would continue to work with the team to provide any additional information it may have. need.

“The attention of Stanbic IBTC Bank Plc has been drawn to press reports alleging that a sum of N83 billion of what was called being unclaimed funds had been discovered in the bank, as part of the hearing by the ad hoc committee of the House of Representatives on the recovery of unclaimed funds.

“It is important to make it clear that the allegations made in the press articles against the bank are misleading and do NOT represent the facts.

“The bank has provided all information requested by the House of Representatives ad hoc committee and continues to work with the House committee to provide any additional information the committee may require.

“For the avoidance of doubt, the Bank has no further obligation with respect to the alleged unclaimed funds.

“Stanbic IBTC Bank continues to be transparent and ethical in its business practices, and we remain committed to maintaining the highest level of integrity in all of our dealings,” the statement said.