Sterling Bank Limited has reaffirmed its unwavering dedication to operating strictly within legal processes even as it faces increasing efforts by a chronic debtor, Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, to obstruct justice.
The bank’s commitment to judicial authority was tested this week when associates of the debtor staged an illegal protest at one of its branches in the Central Business District of Abuja, a move the bank considers a blatant attempt to circumvent clear court rulings.
The incident, which took place on Wednesday, October 8, 2025, involved a group claiming to be representatives of civil society organizations actively obstructing access to the Sterling Bank branch. Protesters performed public theater, chanted false accusations and distributed made-up petitions about the dispute.
The bank said the entire operation was a calculated attempt to use misinformation and public intimidation to distort the facts of a legal matter that has been conclusively resolved by the courts.
Crucially, the protest appears to be a direct violation of an existing Federal High Court order that expressly prohibits Miden Systems and its affiliates from taking further action or action related to the dispute.
Michael Boniface, chief security officer at Sterling Bank, condemned the outage in the strongest terms. He described the action as “reckless and contemptuous behavior” and a “direct affront to the rule of law.”
While the bank has maintained considerable restraint despite repeated provocations, Boniface confirmed that this latest violation will be immediately escalated to law enforcement authorities for thorough investigation and prosecution.
Security agencies quickly contained the unrest and normal banking operations resumed almost immediately. Sterling Bank confirmed that at no time were customers, staff or property subject to risk or damage during the incident.
The legal standoff arises from years of defaults on a vessel lease agreement initially awarded to Miden Systems. The bank demonstrated significant flexibility by subsequently restructuring the line of credit several times to accommodate the debtor’s repeated inability to meet payment terms.
However, the legal record has been consistently clear. In 2021, the Federal High Court issued a Mareva injunction against Dr. Usoro and Miden Systems, culminating in a consent judgment formally confirming the debtor’s liability.
This binding ruling was resoundingly reaffirmed in November 2024, when the court dismissed a subsequent application by Miden Systems to set it aside, decisively classifying its attempt as an abuse of process.
Furthermore, attempts by Dr. Usoro and his firm to circumvent law enforcement through legislative manipulation were met with a powerful judicial response.
The Federal High Court strongly condemned the manipulation of the Public Petitions Committee of the National Assembly in its February 2025 ruling, which explicitly prevented the House of Representatives from continuing to intimidate and harass Sterling Bank.
That seminal ruling reaffirmed the constitutional separation of powers, making it unequivocally clear that neither the legislature nor any private entity can replace or relitigate matters conclusively decided by competent courts.
Boniface reiterated Sterling Bank’s commitment to operating within the confines of the law.
He stressed that integrity, discipline and respect for judicial authority remain the pillars of Sterling Bank, adding that the institution will continue to defend its reputation and protect its stakeholders from people who “use falsehood as a weapon to obstruct justice.”
The bank reaffirmed its dedication to transparency, ethical conduct and cooperation with authorities to safeguard the integrity of Nigeria’s financial system.
Sterling Bank Limited, a full-service commercial bank and subsidiary of Sterling Financial Holdings Group, with a history spanning more than six decades, is committed to transparency and ethical conduct.
The institution’s dedication is underlined by its HEART strategy, an investment model focused on high-impact sectors, including Healthcare, Education, Agriculture, Renewable Energy and Transportation.
By prioritizing sustainable business practices and fully cooperating with law enforcement, the bank continues to play a leading role in safeguarding the integrity of Nigeria’s financial system and fostering national development.
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