Ecobank Responds To 2012 Annual Report Falsification Allegation

Ecobank Transnational Incorporated (ETI) today responded to the report in the media about its investigation by SEC over its over bloated and doctored 2012 Annual report.

According to a press release issued today and received by CKN Nigeria,the Bank said that the 2012 consolidated accounts of ETI were audited and certified independently by PriceWaterhouse Coopers. They are published under International Financial Reporting Standards (IFRS). Contrary to media speculation there was no allegation that these accounts were mis-stated.

 ETI will continue to cooperate fully with any of the regulators in its 34 African markets. ETI fully subscribes to strong ethical standards and transparency and continues to value the role of regulators in all jurisdictions in which it operates.