Nigeria, May 3 -- Three individuals have been arrested for circulating a "false claim" on social media alleging that Tony Elumelu, chairman of United Bank for Africa (UBA) Group, had divorced his wife, Awele.

In a statement issued by the bank's Group Head of Brand, Marketing and Corporate Communication, Alero Ladipo, the institution described the report as "false, defamatory, and malicious," stressing that the claim was entirely fabricated and intended to mislead the public and damage Mr Elumelu's reputation.

UBA said the matter had been reported to law enforcement authorities, who have begun investigations into the origin and spread of the allegation.

The bank confirmed that three suspects have been arrested in connection with the all...