According to a statement released by the bank, a group claiming to represent a coalition of civil society organizations staged a protest on Wednesday, October 8, at the Central Business District in Abuja, obstructing access to one of the bank’s branches while distributing “false and misleading” petitions.
The bank said the demonstration was part of a deliberate effort to “weaponise misinformation” and pressure the institution over a matter that has already been conclusively decided by the courts.
Sterling Bank’s Chief Security Officer, Michael Boniface, described the incident as “reckless and contemptuous,” noting that security operatives quickly restored order and that no customers, staff, or property were endangered.
“This reckless behavior by individuals who cited Dr. Usoro’s Miden Systems as the reason for the disruption is a direct affront to the rule of law,” Boniface said. “The Bank has maintained full restraint despite repeated provocation and will escalate this violation to law enforcement authorities for investigation and prosecution.”
The statement revealed that Sterling Bank had previously petitioned the Inspector-General of Police, alleging a consistent pattern of deceit and defiance of court orders by Dr. Usoro and Miden Systems.
Court records show that in 2021, the Federal High Court issued a Mareva injunction against Dr. Usoro and Miden Systems following repeated defaults on a vessel lease facility that had been restructured multiple times. The court later issued a consent judgment confirming their liability, which was reaffirmed in November 2024 after Miden Systems’ attempt to overturn the ruling was dismissed as an “abuse of process.”
Despite these judgments, Sterling Bank said Miden Systems has continued to orchestrate smear campaigns and sponsor false publications and petitions to evade enforcement. The bank linked the latest protest to earlier efforts to involve the National Assembly’s Committee on Public Petitions, a move the Federal High Court barred in February 2025, ruling that legislative bodies cannot interfere with cases already determined by the judiciary.
“The Bank has consistently relied on lawful processes and will continue to do so,” Boniface reiterated. “Integrity, discipline, and respect for judicial authority remain the pillars of our institution.”
Sterling Bank reaffirmed its commitment to transparency, ethical banking practices, and cooperation with law enforcement to ensure accountability.
The bank emphasized that it remains a trusted financial institution with over 60 years of heritage, dedicated to innovation and sustainable growth through its HEART strategy — focusing on Health, Education, Agriculture, Renewable Energy, and Transportation.
