How A Nigerian Bank Got Caught Up In Turkey’s Attempted Coup Mess

How A Nigerian Bank Got Caught Up In Turkey’s Attempted Coup Mess

Nigerian-based Unite Bank of Africa (UBA), that operates in about 20 African countries, was on Tuesday  named by a Turkish daily as one of the financial institutions that were used to finance an attempted coup in the European nation.

An attempt to overthrow the Turkish government on July 15 by the country’s special forces, backed by the navy and air forces, failed.

UBA is now being accused of helping the alleged coup-plotter John F. Campbell, an ex-US army general with links to the CIA, transfer over $2 billion in a span of six months, Yenisafak reported.

The report claims that the Nigeria branch of the UBA was the “main base” from where Campbell conducted transactions worth millions of dollars. The money then ended up in Turkey and was later hand-delivered to the “terrorists under the military dresses”.

“The Nigeria branch of the United Bank of Africa (UBA) was the main base for the last six-months of money transactions for the coup plotters,” the report claims.

“Campbell also managed more than $2 billion money transactions via UBA Bank in Nigeria by using CIA links to distribute among the pro-coup military personnel in Turkey,” it added.

In an emailed statement send lat on Tuesday, the Nigerian bank denied any involvement in the Turkish coup attempt and termed it as “spurious media speculation”.

“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,” Charles Aigbe, head of communications at UBA, said.

“We remain focused and firmly committed to delivering on our strategy to build Africa’s premier banking institution,” he added.

In recent months, there have been concerns over the stability of Nigeria’s banking sector after the Central Bank of Nigeria taken over management of the country’s eighth largest commercial bank, Skye Bank, over what it said were consistent breach of cash liquidity ratios by the lender. The regulator further disclosed that “one or two other” banks were showing signs of distress.

While authorities in Nigeria have maintained that banks are not in distress at the moment, there has been an increase in unpaid loans as Africa’s largest economy stare at a possible recession dragged down by a tumbling local currency and low oil prices on the international markets.