Sterling Bank has decried what it described as an “unlawful disruption” at its branch in Abuja’s Central Business District, allegedly instigated by Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, in a fresh attempt to evade repayment of long-standing debts upheld by multiple court rulings.
According to the bank, a group claiming to represent civil society organizations stormed the branch premises, obstructing access and distributing materials containing “false allegations” about an ongoing legal matter. Security operatives swiftly restored normalcy, and the bank emphasized that no staff, customers, or property were endangered.
“This reckless and contemptuous behavior by individuals citing Dr. Usoro’s Miden Systems as a reason for the disruption is a direct affront to the rule of law,” said Michael Boniface, Chief Security Officer of Sterling Bank. He confirmed that the bank will escalate the incident to law enforcement agencies for further investigation and prosecution.
Court documents cited by the bank show that Miden Systems and Dr. Usoro have been subjects of several judicial pronouncements dating back to 2021, when the Federal High Court issued a Mareva injunction following multiple defaults on a vessel lease facility. A consent judgment confirming their indebtedness was later reaffirmed in November 2024, after the court dismissed attempts to overturn it, describing their application as an abuse of process.
Despite these rulings, Sterling Bank said the debtor and his company have resorted to “smear campaigns, false publications, and politically motivated petitions” to obstruct enforcement. The bank recalled that in February 2025, the Federal High Court restrained the House of Representatives from intervening in the matter, affirming that only the judiciary has authority over cases already determined by competent courts.
“The Bank has consistently relied on lawful processes and will continue to do so,” Boniface added. “Integrity, discipline, and respect for judicial authority remain the pillars of our institution.”
Sterling Bank reaffirmed its commitment to ethical banking practices, transparency, and cooperation with security agencies to safeguard Nigeria’s financial system.