No problem with the CGCC loan
Wema Bank Plc assured that there was no problem or illegality regarding the facility it granted to Citadel Global Community Church (formerly known as Latter Rain Assembly).
The bank made this known in a statement titled “Due process was followed in approving the installation of Citadel Global Church.”
According to the statement, CGCC has maintained a credible relationship with the bank and there is no cause for concern.
The statement read: “Following recent publications of a facility taken over by the Citadel Global Community Church (formerly known as Latter Rain Assembly), Wema Bank maintains that there is no cause for concern.
“Although we are forced, for reasons of confidentiality, to respond in detail to this publication, we nevertheless wish to confirm that the client has maintained a credible relationship with our bank and that there is no reason for us to consider an action aimed at humiliating our client. . “
The bank assured its shareholders and clients 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 direction of the former Managing Director / CEO, Segun Oloketuyi, followed due process, including obtaining adequate collateral, in granting the said loan as elsewhere. all other credit facilities, “he added.
According to the statement, Wema Bank is committed to applying best practices and due diligence in all transactions with all customers.