Universal Merchant Bank Ltd. (UMB) has issued an apology to Engineers & Planners Company Limited (E&P) for inaccurately reporting the company’s financial status. UMB clarified that E&P has fully settled its credit facilities and does not owe any outstanding debts to the bank.
In an official statement, UMB acknowledged the error and confirmed that corrective steps have been taken to update the inaccurate information shared with credit reporting agencies.
“UMB apologises to E&P for the incorrect information regarding its indebtedness to the bank. We confirm that E&P has fully honoured its credit obligations and has no unpaid debts with UMB,” the statement read.
This 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 called for a retraction and apology for content on pages 98 and 99 of the book, which he asserts contains false allegations about his financial dealings with the then Merchant Bank.
The contested excerpt claims that Ibrahim Mahama was among the major debtors whose loans significantly contributed to the challenges faced by Universal Merchant Bank, 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.
