Wema Bank Plc has assured that there are no issues or illegalities in respect of the facility it granted Citadel Global Community Church (formerly known as Latter Rain Assembly).
The bank made this known in a statement titled ‘Due process was followed in approval of Citadel Global Church facility.’
According to the statement, CGCC has maintained a credible relationship with the bank and there is no cause for worry.
The statement read, “Following recent publications on a facility taken by the Citadel Global Community Church (formerly known as the Latter Rain Assembly), Wema Bank maintains that the there is no cause for concern.
“While we are constrained by reason of confidentiality to respond in detail to this publication, we, however, want to confirm that the customer has maintained a credible relationship with our bank and there is no basis for us to contemplate any action to humiliate our customer.”
The bank reassured its shareholders and customers that it would continue to operate with the highest level of corporate governance, following all rules, policies, and procedures.
“The management of the bank under the leadership of the former Managing Director/Chief Executive Officer, Segun Oloketuyi, followed due process, including obtaining adequate security, in granting the said loan as indeed all other credit facilities,” it added.
According to the statement, Wema Bank is committed to best-in-class practices and due diligence in all transactions with all customers
