First Bank has decried use of blackmail to tarnish its reputation by chronic Debtors and vowed to use judicial means to recover its debts.

This follows a sponsored sensational report by some online publications on a charge brought against the Bank.

The Bank said, “While we will not be able to offer further comments as the matter is sub-judice, suffice it to say that the basis of the charge is a spurious allegation made by a delinquent debtor with the intention of embarrassing the Bank and tainting the Bank’s loan recovery efforts and legal enforcement of its security collateral interest in accordance with the terms thereof.

“We wish to assure our numerous customers, stakeholders and the general public that FirstBank operates by the highest standards of ethical conduct and will under no circumstances involve itself in any act of illegality just as it will take necessary legal steps to check any attempt by recalcitrant debtors to fritter away depositors’ funds under its custody.

Furthermore, FirstBank remains focused on its mission of providing the best financial services to its numerous customers.”