Alleged N9bn debt: No basis to humiliate Tunde Bakare — Wema Bank

Tunde Bakare

The management of Wema Bank has debunked reports it plans to go after Pastor Tunde Bakare over an alleged N9 billion he owes the financial institution.

The bank’s managing director and chief executive Ademola Adebise said in a statement that the bank has maintained a good relationship with the clergyman and does not plan to humiliate him.

Reports had said Bakare, who is the general overseer of Citadel Global Community Church formerly known as Latter Rain Assembly in Lagos, borrowed N4.5 billion from the bank to build his church. The reports further claimed his inability to pay up the loan saw it rise to N9 billion.

“I would want to address the recent news in the public space regarding our customer and in particular the main promoter Pastor Tunde Bakare,” Mr Adebise said.

“While we are constrained by the reason of confidentiality to respond in details 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.

“Furthermore, we will like to reassure our shareholders and customers that the bank has and will continue to operate with the highest level of corporate governance, following all rules, policies and procedures.”

Bakare has not responded publicly to the reports.