Universal Merchant Bank Ltd. (UMB) has issued an apology to Engineers & Planners Company Limited (E&P) for sharing incorrect details about the company’s financial status with the bank.
UMB clarified that E&P has completely settled its credit facilities and currently owes no outstanding debts to the bank.
In an official statement, UMB acknowledged the mistake and confirmed that corrective measures have been taken to update the inaccurate records shared with credit reporting agencies.
“UMB apologises to E&P for the inaccurate information regarding E&P’s indebtedness to the bank. We acknowledge that E&P has fully honoured its credit obligations with the bank and has no unpaid debts with the UMB”, the release said.
The apology comes amid a legal dispute between businessman Ibrahim Mahama and investigative journalist Manasseh Azure Awuni over claims made in Awuni’s book, “The President Ghana Never Got”.
Ibrahim Mahama, through his legal team, has requested a retraction and apology for content on pages 98 and 99 of the book, which he argues contains false allegations about his financial dealings with the then Merchant Bank.
The disputed excerpt alleges that Ibrahim Mahama was among the major debtors whose loans significantly contributed to the challenges faced by Universal Merchant Bank, ultimately leading to its controversial sale in 2013.
UMB expressed its regret for any inconvenience the error may have caused E&P and stressed its dedication to upholding high standards of accuracy, integrity and fairness in its dealings with clients.
“The bank has taken all the necessary steps to correct the records with the credit reporting agencies and regrets any inconvenience caused. We reaffirm our commitment to the highest standards of accuracy professionalism and fairness in all our dealings with our customers.”
E&P is yet to provide a response to the apology.
