Tensions Rise As Nigerian Bank Fights House Of Reps Over ‘Intrusive’ Account Investigation

The Federal High Court in Lagos has set July 18, 2025, to hear a lawsuit filed by Sterling Bank and its subsidiaries challenging the authority of the House of Representatives to probe financial transactions involving two of the bank’s clients—Dr. Innocent Usoro and Miden Systems Limited.

Sterling Bank, along with Sterling Financial Holdings Company Plc and top executives Yemi Odubiyi, Abubakar Suleiman, Lekan Olakunle, and Dele Faseemo, is seeking a court order to permanently restrain the House of Representatives and the Chairman of its Public Petitions Committee, Michael Etaba, from acting on a police report alleging financial wrongdoing in the customers’ accounts.

Also named in the suit are Dr. Usoro, Miden Systems Limited, and the Inspector-General of Police.

According to documents filed by human rights lawyer Femi Falana (SAN), the plaintiffs argue that the National Assembly lacks the constitutional powers to interfere in bank-client affairs or revisit a 2021 consent judgment previously issued by the Federal High Court.

Citing Sections 88 and 89 of the 1999 Constitution, the plaintiffs urge the court to declare that the House cannot compel their staff to testify or act on the contents of the police report, which they claim attempts to reopen a matter already legally settled.

The defense, led by Rowland Uzoechi, insists that the suit is merely a tactic to obstruct justice and avoid scrutiny. They argue that the plaintiffs’ claims are hypothetical and without real legal merit, and that the court lacks the jurisdiction to entertain them.

In a counter-affidavit, Dr. Usoro, the third defendant, accused the bank and its executives of fabricating documents to create the illusion of a $30 million loan. He added that a January 2025 police report revealed suspicious inflows exceeding $122 million into Miden Systems’ accounts, much of which was allegedly withdrawn under questionable circumstances and remains unaccounted for.