Normal operations quickly resumed on Wednesday at a Sterling Bank branch located in Abuja’s Central Business District after a group of protesters allegedly loyal to Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, attempted to disrupt banking activities.
Eyewitnesses said the protesters, who claimed to represent a coalition of civil society organizations, blocked access to the bank’s premises while chanting slogans and distributing leaflets containing what the bank described as false and misleading allegations about an ongoing debt dispute.
According to Sterling Bank, the protest was not only unauthorized but also a deliberate attempt to deceive the public and pressure the institution into abandoning a matter that has already been conclusively determined by several courts.
The bank said its operations were momentarily interrupted before security operatives arrived at the scene to disperse the crowd and restore order. It confirmed that no damage was recorded and that customers and staff remained safe throughout the incident.
“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.
Boniface added that the bank had exercised restraint despite repeated acts of provocation and would escalate the latest incident to law enforcement agencies for investigation and possible prosecution.
Sterling Bank disclosed that it had earlier submitted petitions to the Inspector-General of Police with what it called comprehensive evidence of Miden Systems’ alleged misconduct, including deceit, disobedience to court orders, and dissemination of false information.
The long-running dispute between both parties reportedly originated from a vessel lease facility extended to Miden Systems years ago. The facility, according to the bank, was restructured several times following defaults in repayment by the company.
In 2021, the Federal High Court issued a Mareva injunction against Dr. Usoro and Miden Systems, effectively freezing their assets in connection with the debt. The court later delivered a consent judgment confirming their indebtedness to the bank.
That judgment was reaffirmed in November 2024 after the Federal High Court dismissed an application by Miden Systems to set aside the earlier ruling, describing the attempt as an abuse of court process.
Despite these multiple judicial decisions, Sterling Bank alleged that Dr. Usoro and his company have continued to evade lawful enforcement by launching media smear campaigns, circulating false publications, and sponsoring politically motivated petitions.
The bank also referenced a February 2025 ruling of the Federal High Court which restrained the House of Representatives from interfering in the case. The judgment, the bank said, reaffirmed the principle of separation of powers and barred any legislative or private intervention in matters already resolved by competent courts.
“The Bank has consistently relied on lawful processes and will continue to do so,” Boniface stated. “Integrity, discipline, and respect for judicial authority remain the pillars of our institution. We will continue to defend our reputation and protect our stakeholders from those who weaponize falsehood to obstruct justice.”
Sterling Bank reaffirmed its commitment to transparency, ethical standards, and sustainable corporate governance. It pledged continued cooperation with law enforcement agencies to ensure accountability and to safeguard the integrity of Nigeria’s financial system.
