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Sterling Bank drags IGP over court ruling violations, abuse of National Assembly
Sterling Bank Limited, has petitioned the Inspector General of Police (IGP) to address alleged fraudulent activities linked to Miden Systems Ltd and its director, Dr. Brendan Innocent Usoro.
The action followed a series of purported attempts by Usoro to leverage political connections and law enforcement to undermine a court-mandated debt settlement.
The Federal High Court delivered a ruling on October 18, 2021,clearly establishing Miden Systems Ltd’s liability for outstanding debts and outlining the terms for repayment.
Despite this unequivocal judgment, Maurice Igugu, Sterling Bank’s Chief Marketing Officer, stated that Miden Systems and Dr. Usoro have engaged in a systematic campaign to evade compliance.
The campaign allegedly involves misappropriation of loan funds, manipulation of corporate structures to protect assets and intimidation tactics aimed at bank officials.
The bank expressed serious concerns regarding the misuse of the Police Force CID and the National Assembly by individuals attempting to escape their legal obligations.
Allegations suggest that Dr. Usoro has exploited his political connections to obstruct justice, with claims that individuals allegedly acting on his behalf, along with the Nigerian Police, have resorted to intimidation and personal harassment of Sterling Bank’s executives.
In a statement, Igugu condemned these actions as an affront to judicial authority and reaffirmed the bank’s resolve to hold the debtors accountable. He noted that the debtor’s actions have inflicted financial harm on the bank and its stakeholders.
According to the statement, “On October 18, 2021, the Federal High Court issued a decisive ruling that established the debtor’s liability and mandated adherence to agreed settlement terms. Despite the unambiguous nature of this judgment and the debtor’s acknowledgment of substantial outstanding debt, Miden Systems Ltd and Dr. Usoro have engaged in a calculated campaign of non-compliance.”
Consequently, the Bank has sought the intervention of the IGP to address these issues and ensure justice prevails.
On December 10, 2024, through its legal counsel Kunle Ogunba, SAN, Sterling Bank submitted a detailed petition to the IGP. The document outlines serious allegations against Dr. Usoro and Miden Systems Ltd, including the diversion of loan funds for personal use, defaults on loan obligations, asset misappropriation and illegal restructuring of the company’s shareholding.
The petition further highlighted efforts to obstruct justice through legal maneuvers and intimidation tactics against the Bank. The Bank’s petition to the IGP also underscored recent incidents of intimidation directed at its executives, allegedly orchestrated by parties acting on behalf of Dr. Usoro.
Urging stakeholders, customers and the public to disregard unsubstantiated accusations and recognise the facts, the Bank noted that the actions of Miden Systems Ltd and Dr. Usoro is a deliberate attempt to distract from their refusal to fulfill their financial obligations.
The statement added that deductions from Miden Systems’ account, which have been called into question, were carried out under an agreement enshrined in a consent judgment issued by the Federal High Court in Lagos.
“This judgment, signed by representatives of both parties, confirmed the debtor’s commitment to liquidate the debt, including principal and accrued interest, as of June 10, 2021.
“This follows some skewed narratives about a session on the issue with the House of Representatives Committee on Public Petitions on a petition from Maiden Systems Ltd, which accused the Central Bank of Nigeria (CBN), Sterling Bank, and Shell Petroleum of mismanagement and fraudulent debits linked to its account,” the bank stated.
In a recent development, on November 20, 2024, the Federal High Court dismissed an application by Miden Systems Ltd and Dr. Usoro seeking to overturn the earlier judgment. The court’s dismissal cited abuse of process, reinforcing the validity of the original ruling and the binding nature of the settlement terms.
Sterling Bank urged stakeholders and the public to disregard unfounded accusations from Miden Systems Ltd, framing them as distractions from their financial responsibilities. The bank maintains that deductions from Miden Systems’ accounts were executed under a legally binding consent judgment.
While reaffirming its dedication to upholding the principles of justice, integrity, and accountability in the face of these small distractions, Sterling assured that it remains a trusted cornerstone of Nigeria’s financial sector, celebrated for its innovative solutions and unwavering commitment to sustainable development through its focus on the HEART sectors (Health, Education, Agriculture, Renewable Energy, and Transportation).
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Just in: FG begins recruitment into Federal Civil Service
The Federal Government has begun hiring for various positions within the Federal Civil Service.
The Federal Civil Service Commission (FCSC) announced on January 26, 2025, that Nigerians interested in these roles can apply through the commission’s official website.
Applicants are required to submit their applications for only one position.
Those applying should upload several documents, including their CV, academic certificates, NYSC certificate, birth certificate, and passport photo.
People with disabilities should also mention the nature of their condition in their applications.
The application portal is open until March 10, 2025, for interested candidates.
The statement read:
“The Federal Civil Service Commission (FCSC) is receiving applications for various vacancies in the Federal Civil Service.
“The vacancy announcement is published on the Commission’s website: www.fedcivilservice.gov.ng and in the Sun, Daily Trust and The Nation newspaper of Monday 27th January 2025.
“Eligible applicants are to apply for only one position via the application link: https://recruitment.fedcivilservice.gov.ng.
“Applicants who are physically challenged should state the nature of their disability.
“Applicants are to upload the following documents as applicable:
i. Curriculum Vitae
ii. Ph.D/Master’s Degree Certificate
iii. Degree/HND/NCE Certificate
iv. WAEC/NECO/NABTEB Certificate
v. Primary School Certificate
vi. NYSC discharge/exemption/exclusion certificate
vii. Birth Certificate/Declaration of Age
viii. Local Government Identification
ix. Recent Passport photograph
“All applications are to be submitted on or before Monday, 10th March, 2025.
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Just in: Ex-President Buhari opens up on his health status
Ex-President Muhammadu Buhari has opened up about his health since leaving office on May 29, 2023.
Buhari confirmed that his health is better now since he left office in 2023.
While in office as President, Buhari was plagued by illness which led to him being flown abroad for medical attention.
He handed over to Bola Tinubu after serving his two terms as President.
Speaking at an All Progressives Congress, APC, stakeholders’ meeting at the Katsina State Government House, Buhari suggested that the complexities of being the President of Nigeria affected his health.
“Those outside the corridors of power do not understand the complexities and difficulties facing Nigeria.
“My health has improved since leaving office. People who visited me told me I look better than before.”
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Igbo-Eze North/Udenu Fed Constituency Communities rejoice as Rep Agbo attracts 21 class rooms, ICT Halls+Photos
Community and educational leaders in Amalla, Udenu local government area and other communities in Igbo-Eze North council area have made accolades on their House of Representatives member, Rt. Hon Dennis Nnamdi AGBO, for attracting and completing the construction and reconstructions of various classroom blocks in their secondary schools.
Commissioning the facilities by the Governor of Enugu state who was represented by the state Commission for Education, Prof. Ndubueze Mbah, different community leaders and school Principals paid tributes to both Governor Peter Mbah and Rep Agbo for their giant strides in the provision of educational infrastructure such as the state government’s ongoing constriction of 260 Smart Schools across the state, and Rep Agbo’s continued provision of educational facilities in Igbo-Eze North/ Udenu Federal constituency.
The facilities included a seven-classroom block with two offices at Umuegali Amalla in Udenu LGA, six-classroom block at Community Secondary School Imufu; four-classroom block at Comprehensive Secondary School Ekposhi, an Examination Hall and ICT building at Community High School Uda.
Expressing appreciations to Rep Agbo for attracting the projects, community leaders such as Prince Emeka Eze of Amalla in Udenu LGA; Chief Abel Idoko of Ekposhi Enugu-Ezike, HRH Igwe Remigus Attah of Imufu and Ichie Peter Ugwuja of Udah in Igbo-Eze North LGA, described Agbo as a good representative with integrity and track record of excellence.
They also made accolades on Governor Peter Mbah who Chief Idoko said his governance has been characterized by “business unusual and disruptive innovations in all sectors.” Ichie Ugwuja recalled that Rep Dennis AGBO had earlier remodeled college buildings, the old dormitory and laboratory blocks in Udah Community High School, in addition to other community development projects.
Rep Agbo in his different speeches gave commendation to Governor Peter Mbah, stating that the governor is a worthy partner whose hard work propels him to seek budgetary provisions for his constituency and the state – “the Governor is working, so we work”.
Agbo said, “We’re taking after the Governor. Education is the enabling factor for the future because if you educate a child, you empower him. All we are doing is to contribute our own quota to elevate that initiative, bringing resources from the center, from the federal government, which is where we operate, to support what the Governor is doing.
“Education is the key in human capital development. Imagine a remodeled secondary School in Udah, and a Smart School next door, the confidence it will engineer in children in the next five years is unimaginable. I thank my constituents who are wonderful people. They support me and I’m working hard for them.”
The Governor’s representative and the state Commissioner for Education, Prof Ndubueze Mbah said that there is a democratic synergy between the state government’s effective governance and effective representation by the House of Representative member.
“The people who are enjoying these democratic endeavors are the people that Honourable represents and the citizens of Enugu state in general, who are led by our Governor. It has been a richly rewarding experience and I’ll provide the governor a full brief on my excursion here,” Prof Mbah said.
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