Risk Alert: UBA Group Faces ₦2.65 Quadrillion Liability Over Missing Transactions
This disclosure warns regulators and the banking community of a potential contingent liability at UBA Group exceeding ₦2.65 quadrillion. Foreign inflows of ₦2.21 quadrillion were recorded in Account 2101065829 between 12–15 April 2018 and confirmed via a Sterling Bank ATM journal on 15 April 2018. UBA’s official statements omit 52 days of transaction history, jumping from 9 April 2018 to 31 May 2018. An email on 9 May 2020 admitted interest paid at 1.25 percent per annum, yet a legal response dated 16 April 2026 claimed no record of the account. An unauthorized digital profile in the UAE further suggests cyber impersonation. Regulatory actions are underway: NIBSS litigation hold, an EFCC petition, and CBN notification under BOFIA. The estimated exposure combines principal, interest, daily penalties for record failures, and asset freeze risks. Total potential liability dwarfs UBA’s ₦1.2 trillion market cap. Shareholders face severe risk if UBA cannot satisfy any judgment. Regulators are urged to preserve settlement logs, require immediate disclosure, and uphold fiduciary duties. Investors should conduct their own audits of 2018 statements.
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