Zenith Bank Under Fire Over Aquitane’s Unresolved Allegations on Dividend Diversion
Aquitane, a prominent player in Nigeria’s downstream oil and gas sector, has raised concerns over Zenith Bank Plc’s alleged involvement in forgery, dividend diversion, and unlawful asset sales.
According to sources familiar with the matter, the source noted that two weeks after the case broke, the bank has yet to provide a detailed defense or resolve the claims, leaving the matters pending with the police.
Source: UGC
The allegations centered around Aquitane's claim that Zenith Bank, along with its subsidiaries Veritas Registrars and Quantum Zenith Securities, was involved in a scheme to manipulate bank statements and withhold dividends amounting to ₦1.4 billion.
The oil and gas company also alleged that Quantum Zenith Securities facilitated the unauthorized sale of Zenith shares, further complicating the matter.
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Aquitane noted that a forensic audit of their accounts revealed discrepancies suggesting deliberate manipulation, pointing to potential forgery in the bank’s statements.
The company claims that these actions have had significant financial implications and have undermined public trust in the banking sector.
According to Aquitane, the ongoing situation has prompted calls for transparency and accountability in the investigation, as the banking sector faces increased scrutiny over corporate governance and financial practices.
Source: Legit.ng
