ABUJA — Sterling Bank Plc has condemned an unlawful protest allegedly orchestrated by Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, at the Bank’s branch in Abuja’s Central Business District on Wednesday, October 8, 2025.
According to the Bank, the disturbance was carried out by a group of individuals claiming to represent a coalition of civil society organizations. The protesters reportedly obstructed access to the Bank’s premises while distributing petitions and making false allegations regarding a long-standing legal dispute between Sterling Bank and Miden Systems Limited.
The Bank noted that the protest violated an existing Federal High Court order restraining Miden Systems and its affiliates from taking any action or making public statements on the matter. Security agencies promptly intervened, dispersing the protesters and restoring order. Sterling Bank emphasized that no customers, staff, or property were harmed during the incident, and operations resumed immediately.
“This reckless and contemptuous behaviour by individuals linked to Dr. Usoro’s Miden Systems is a direct affront to the rule of law,”
said Michael Boniface, Chief Security Officer of Sterling Bank.
“The Bank has maintained full restraint despite repeated provocation and will escalate this latest violation to law enforcement authorities for investigation and prosecution.”
Sterling Bank disclosed that it had previously petitioned the Inspector-General of Police, providing evidence of what it described as Miden Systems’ sustained pattern of deceit, defiance of court orders, and efforts to mislead the public.
The dispute, which dates back several years, stems from a vessel lease facility granted to Miden Systems and subsequently restructured multiple times following continued defaults. In 2021, the Federal High Court issued a Mareva injunction against Dr. Usoro and Miden Systems, later culminating in a consent judgment confirming the company’s indebtedness to the Bank.
That judgment was reaffirmed in November 2024, when the court dismissed another application by Miden Systems seeking to overturn it, describing the move as an abuse of judicial process.
Despite the court’s repeated rulings, the Bank alleges that Dr. Usoro and his company have continued to attempt to evade repayment through smear campaigns, false publications, and politically motivated petitions — including one recently dismissed by the Federal High Court in February 2025, which restrained the House of Representatives Committee on Public Petitions from further interfering in the matter.
That ruling reaffirmed that matters conclusively determined by competent courts cannot be re-litigated or overridden by any legislative body or private entity.
“Sterling Bank has always relied on lawful and transparent processes,” Boniface added. “Integrity, discipline, and respect for judicial authority remain the pillars of our institution. We will continue to protect our reputation and defend our staff, customers, and investors from attempts to weaponize falsehood to obstruct justice.”
Sterling Bank reiterated its commitment to ethical banking practices, transparency, and sustainable business growth, assuring that it will continue to cooperate with law enforcement agencies to ensure accountability and preserve confidence in Nigeria’s financial system.
