Zenith Bank Denies Link to Fraudulent Investment Scheme

Zenith Bank PLC has officially denied any connection between its group chairman, Jim Ovia, and a fraudulent investment scheme known as Wealth Bridge Bank. The bank issued a statement on its official social media account on Tuesday, clarifying that a video circulating on social media falsely claims that the scheme is approved by the Central Bank of Nigeria.

The scheme allegedly promises a weekly return of N2 million on an initial investment of N380,000. Zenith Bank described these claims as entirely false and cautioned the public to disregard them.

The bank further warned that the video redirects unsuspecting viewers to a new webpage containing details of the fraudulent scheme, which includes an embedded registration portal for sign-up. Zenith Bank emphasized that neither Jim Ovia nor any affiliated companies have any connection to this fraudulent scheme and urged the public to be vigilant against such scams.