Business a.m.
In what appears to be yet another desperate attempt to evade repayment of long-outstanding debts upheld by multiple court judgments, Dr. Brendan Innocent Usoro and his company, Miden Systems Limited, have been linked to an unlawful protest staged on Wednesday, October 8, 2025, at the Central Business District in Abuja.
A statement issued by Sterling Bank, which was made available to Business a.m., noted that a group of individuals claiming to represent a coalition of civil society organizations obstructed access to a Sterling Bank branch, chanting false allegations and distributing fabricated petitions designed to mislead the public about an ongoing legal matter.
The Bank disclosed that there is also an existing Federal High Court order, which expressly prohibits Miden Systems and its affiliates from taking any steps or actions relating to the dispute with the Bank.
“The intention was unmistakable: to weaponise misinformation and public theatrics in an attempt to intimidate the Bank and distort a matter already conclusively determined by the courts. The disturbance was swiftly contained by security agencies, and normal operations resumed almost immediately. At no point were customers, staff, or Bank property at risk,” Sterling Bank reiterated.
“This reckless and contemptuous behavior by individuals who cited Dr. Usoro’s Miden Systems as a key reason for the disruption 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 once again escalate this violation to law enforcement authorities for investigation and prosecution.”
Sterling Bank had previously petitioned the Inspector-General of Police, presenting detailed evidence of Miden Systems’and Dr. Usoro’s sustained pattern of deceit, defiance of court orders, and attempts to mislead the public through false claims and politically motivated interference. These petitions followed years of defaults on a vessel lease facility originally granted and later restructured multiple times to accommodate the debtor’s inability to repay.
In 2021, the Federal High Court issued a Mareva injunction against Dr.Usoro and Miden Systems after repeated defaults, culminating in a consent judgment that confirmed the debtor’s liability. That judgment, which remains binding, was again reaffirmed in November 2024, when the court dismissed a subsequent application by Miden Systems seeking to overturn it, describing their actions as an abuse of process.
Despite these clear judicial pronouncements, Dr. Usoro and Miden Systems have continuously sought to circumvent lawful enforcement by orchestrating smear campaigns, false publications and petitions to government bodies. This recent disruption by pseudo–civil society fronts seemingly mirrors previous attempts to manipulate the National Assembly’s Committee on Public Petitions, a move the Federal High Court decisively condemned in its February 2025 ruling restraining the House of Representatives from further intimidating and harassing Sterling Bank.
That order reaffirms the constitutional separation of powers; that neither the legislature nor any private entity can override or re-litigate matters already conclusively decided by competent courts.
“The Bank has consistently relied on lawful processes and will continue to do
so,” Boniface said. “Integrity, discipline, and respect for judicial authority remain the pillars of our institution. We will continue to defend our hard earned reputation and protect our employees, customers and investors from individuals who weaponise falsehood to obstruct justice.”
Sterling Bank reiterates that it remains a trusted and responsible financial institution committed to transparency, ethical conduct, and sustainable business practices. The Bank will continue to cooperate with law enforcement agencies to ensure accountability and uphold the integrity of Nigeria’s financial system.
