Nagad denies allegations of fund manipulation and data deletion

Nagad, the digital financial service of the Bangladesh Postal Department, has strongly refuted recent media reports, terming them fabricated and misleading. The organisation claims these reports are part of a deliberate smear campaign orchestrated to serve vested interests by targeting a government-affiliated initiative.

In response to allegations published in certain newspapers, Nagad stated that it possesses concrete evidence contradicting the claims made, which include cash withdrawals through fake vouchers, data deletion, and fund manipulation through event and maintenance bills.

"These claims are entirely unfounded," the statement read. "We firmly assert that no such incidents have occurred. All transactions at Nagad are conducted with full transparency and accountability."

Nagad further noted that since 28 May 2025, a supervisory team from the Bangladesh Postal Department has been overseeing its operations, and all relevant matters are under review.

The organisation also clarified the context of a recent meeting between a senior Nagad official and a government intelligence agency, saying it was a routine information-gathering session. "The official was respectfully released following the discussion, and suggestions were made to maintain stability within the company," the statement noted.

Addressing concerns around recruitment, Nagad confirmed that the appointment of Zakia Sultana Jui followed standard procedure, including evaluation of academic qualifications and experience. "Nonetheless, the recruitment in question will be re-examined to ensure further transparency."

Nagad also rejected "imaginative" media claims regarding data deletion on Fridays or during holidays, describing them as "laughable." The organisation explained that weekend operations are common in preparation for major campaigns like the upcoming Eid-ul-Adha, and that all data remains secure across multiple database locations.

Regarding allegations of dismissing employees involved in cooperation with Bangladesh Bank and KPMG, Nagad clarified that team members recruited for its digital bank initiative have been retained, even after the central bank halted the licensing process, considering the country's socio-economic context.

The Bangladesh Postal Department has formed an investigative committee to look into these issues. Nagad expressed confidence that the truth will emerge through this official process.

Finally, in response to reports on backdated salary disbursements, Nagad clarified that these payments were pending for several months and had been pre-approved. "They were disbursed following legal advice from one of the country's top lawyers, in full compliance with labour laws and during the tenure of the Bangladesh Bank-appointed administrator," the statement read.

Nagad reaffirmed its commitment to transparency, legal compliance and service continuity, urging the public not to be misled by unverified reports.