Normal banking activities were briefly disrupted at a Sterling Bank branch in Abuja’s Central Business District on Wednesday, following an unlawful protest allegedly sponsored by Dr. Brendan Innocent Usoro and his company, Miden Systems Limited.
The group of demonstrators, claiming to represent a coalition of civil society organizations, reportedly blocked access to the branch, chanting accusations and distributing petitions said to contain misleading information about a long-running legal dispute involving Miden Systems and the bank.
Sterling Bank officials confirmed that the disturbance occurred on October 8, 2025, but emphasized that the situation was swiftly brought under control through the intervention of security agencies. Normal operations resumed within a short time, and no customers, staff, or property were harmed during the incident.
According to the bank, the protest violated an existing Federal High Court order that restrains Miden Systems and its affiliates from taking any further actions related to their dispute with the institution. The order was issued after several judgments had already confirmed the company’s indebtedness to the bank.
Sterling Bank described the protest as a desperate attempt to manipulate public perception and intimidate the bank, despite the matter having been conclusively determined by the courts. It accused those involved of spreading misinformation and engaging in theatrics designed to undermine lawful processes.
“The reckless and contemptuous behavior of these individuals is a direct affront to the rule of law,” said Michael Boniface, Chief Security Officer of Sterling Bank. He added that the bank would escalate the matter to law enforcement agencies for a thorough investigation and possible prosecution.
Boniface stated that Sterling Bank had previously petitioned the Inspector-General of Police, presenting evidence of what it called a sustained pattern of deceit and defiance of court orders by Dr. Usoro and Miden Systems. The petitions detailed how the company allegedly defaulted on a vessel-lease facility that was restructured multiple times to accommodate repayment challenges.
In 2021, the Federal High Court issued a Mareva injunction against Dr. Usoro and his company after repeated defaults. This culminated in a consent judgment confirming the debtor’s liability. That judgment remains valid and was reaffirmed in November 2024 when the court dismissed another application by Miden Systems, describing it as an abuse of judicial process.
Despite these rulings, the bank said, Dr. Usoro and his company have continued to evade lawful enforcement by sponsoring smear campaigns, filing false petitions, and seeking political interference in the matter. The recent protest, it added, mirrors earlier attempts to use pseudo-civil groups to manipulate public opinion.
Sterling Bank recalled that in February 2025, the Federal High Court restrained the House of Representatives Committee on Public Petitions from further interfering in the dispute, reaffirming that legislative bodies cannot re-litigate issues already settled by competent courts.
That ruling, the bank noted, underscored the constitutional separation of powers and reinforced the principle that judicial decisions must be respected by all institutions and private entities.
“The Bank has consistently relied on lawful processes and will continue to do so,” Boniface reaffirmed. “Integrity, discipline, and respect for judicial authority remain our guiding values. We will protect our employees, customers, and investors from individuals who weaponize falsehood to obstruct justice.”
Sterling Bank maintained that it is a responsible financial institution committed to transparency, ethical conduct, and sustainable practices. The management assured customers and stakeholders that it would continue cooperating with law enforcement agencies to ensure accountability.
The bank reiterated its commitment to upholding the integrity of Nigeria’s financial system, pledging that acts of intimidation or misinformation would not derail its operations or reputation.
Founded more than six decades ago, Sterling Bank is a full-service national commercial bank and a member of Sterling Financial Holdings Group. It has evolved from a leading investment banking firm into a trusted retail and corporate financial institution with a focus on innovation and social impact.
The bank’s HEART strategy—centered on Health, Education, Agriculture, Renewable Energy, and Transportation—continues to guide its mission to transform lives through responsible and purpose-driven banking.
