Sterling Bank has condemned what it described as an unlawful protest staged on Wednesday at its Central Business District branch in Abuja, allegedly orchestrated by associates of Dr. Brendan Innocent Usoro and his company, Miden Systems Limited.
The protest, led by individuals claiming to represent civil society organizations, obstructed access to the bank and distributed petitions containing allegations the bank says are false and misleading. Security agencies swiftly intervened, restoring order without incident.
Michael Boniface, Chief Security Officer of Sterling Bank, said the protest violated an existing Federal High Court order prohibiting Miden Systems and its affiliates from taking any action related to the ongoing legal dispute.
“This reckless and contemptuous behavior is a direct affront to the rule of law,” Boniface stated. “The Bank has maintained full restraint despite repeated provocation and will escalate this violation to law enforcement authorities.”
Sterling Bank had previously petitioned the Inspector-General of Police, citing a pattern of deceit and defiance of court orders by Dr. Usoro and Miden Systems. The dispute stems from a vessel lease facility granted to the company, which was restructured multiple times due to repayment defaults.
In 2021, the Federal High Court issued a Mareva injunction against Dr. Usoro and Miden Systems, culminating in a consent judgment confirming their liability. That judgment was reaffirmed in November 2024, when the court dismissed an attempt to overturn it, describing the move as an abuse of process.
The bank also referenced a February 2025 ruling restraining the House of Representatives from further interference in the matter, reinforcing the constitutional separation of powers and the finality of judicial decisions.
Sterling Bank reiterated its commitment to lawful processes, transparency, and ethical conduct, and pledged continued cooperation with law enforcement to uphold the integrity of Nigeria’s financial system.
