. Bank Swiftly Restores Normal Operations
Normal operations quickly resumed at a Sterling Bank branch in Abuja’s Central Business District on Wednesday after a group of protesters, allegedly acting on behalf of Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, attempted to obstruct the bank’s activities.
The demonstrators, who claimed to represent a coalition of civil society organizations, reportedly blocked access to the bank’s premises while chanting and distributing petitions containing what the bank described as “false allegations” regarding a long-standing debt dispute.
According to Sterling Bank, the protest was an unlawful attempt to mislead the public and pressure the institution into abandoning a case that has already been conclusively determined by multiple court rulings.
Security operatives promptly dispersed the group, and the bank confirmed that no harm was done to customers, staff, or property.
“This reckless and contemptuous behavior by individuals citing Dr. Usoro’s Miden Systems as their motivation is a direct affront to the rule of law,” said Michael Boniface, Chief Security Officer of Sterling Bank. “The bank has maintained restraint despite repeated provocation and will once again escalate this violation to law enforcement for investigation and prosecution.”
Sterling Bank noted that it had previously petitioned the Inspector-General of Police, providing what it called “comprehensive evidence” of Miden Systems’ alleged pattern of deceit, defiance of court orders, and deliberate misinformation.
The dispute stems from a vessel lease facility originally granted to Miden Systems and later restructured multiple times following defaults in repayment.
In 2021, the Federal High Court granted a Mareva injunction against Dr. Usoro and Miden Systems, followed by a consent judgment affirming their indebtedness. That judgment was reaffirmed in November 2024 when the court dismissed Miden Systems’ application to overturn it, labeling the move “an abuse of court process.”
Despite these clear judicial pronouncements, Sterling Bank said Dr. Usoro and his company have continued to evade lawful enforcement through “smear campaigns, false publications, and politically motivated petitions.”
The bank further recalled a February 2025 Federal High Court ruling which restrained the House of Representatives from “harassing or intimidating” Sterling Bank over the same matter — a judgment that reaffirmed the constitutional separation of powers and barred the legislature or any private entity from revisiting issues already settled by competent courts.
“The Bank has consistently relied on lawful processes and will continue to do so,” Boniface reiterated. “Integrity, discipline, and respect for judicial authority remain the pillars of our institution. We will continue to defend our reputation and protect our employees, customers, and investors from those who weaponize falsehood to obstruct justice.”
Sterling Bank reaffirmed its commitment to transparency, ethical conduct, and sustainable business practices, while pledging to cooperate fully with law enforcement to ensure accountability and uphold the integrity of Nigeria’s financial system.
