The Fiji Trade and Investment Bureau says there has been no application by the two organisations claiming to be setting up a US$3.5 billion bank for indigenous Fijians.
They are the so-called Office of International Treasury Control, OITC, and the Viti Land and Resource Owners Association headed by Ratu Osea Gavidi.
Radio Legend reports that Ratu Osea claimed last week that the man describing himself as the Chief of Cabinet of OITC, a Dr Keith Scott, could not bring in the US$3.5 billion into the country because the FTIB had not approved the licence to set up the bank.
But the FTIB board chairman, Joe Singh, says there is no such application with them.
Mr Singh says any foreign investor will need a foreign investment certificate which is the legal responsibility of the FTIB.