The Tier-1 financial institution said the false narrative, which has been widely circulated online, was designed to mislead the public and inflict reputational damage on its chairman and the wider UBA Group.
In a statement issued on Sunday by Alero Ladipo, Group Head of Brand, Marketing & Corporate Communication, the bank categorically dismissed the allegations, stressing that they bear no basis in fact and constitute a coordinated act of defamation.
According to the statement, the bank has already taken legal steps in response to the incident, confirming that three individuals identified as Kingsley Akunemeihe (@Directorkem), Chigozie Success Ihebom, and John Surpruchi Nwanorue (@problemchimky) have been arrested in connection with the alleged dissemination of the false claims.
“Investigations are ongoing and are expected to lead to further arrests and prosecutions of all persons involved in originating, amplifying or sustaining this defamatory campaign,” the statement read.
UBA also issued a strong warning to individuals, online platforms, and other entities involved in sharing or reposting the content, demanding an immediate halt to its circulation. It further called for the removal of all related posts across digital platforms without delay.
“All such parties are hereby required to remove the offending publication from all platforms immediately; refrain from any further publication or amplification of similar false content and preserve all records, including digital footprints, communications, and metadata relating to the creation and dissemination of the publication, pending further legal action,” the bank stated.
The institution emphasized that failure to comply with these directives would attract legal consequences, including defamation suits, injunctive relief, and claims for damages under applicable laws.
Reiterating its stance, UBA underscored its commitment to protecting the integrity and privacy of its leadership, particularly its chairman, Tony Elumelu, stating that all available legal avenues—both civil and criminal—would be pursued to hold those responsible accountable.
“The UBA Group is resolute in protecting the reputation, privacy, and integrity of our brand, that of Mr Elumelu, and will pursue all necessary legal avenues to ensure that all responsible parties are identified and held accountable,” the statement added.
The development highlights the growing concern among corporate institutions over the rapid spread of misinformation on social media and its potential impact on reputations, prompting increasingly aggressive legal responses from affected parties.