Union Bank of Nigeria has responded to the recent ruling by Justice Abike Fadipe of the Ikeja High Court in the ongoing legal matters involving Senator Jimoh Ibrahim, NICON Investment Limited, Global Fleet, and the Bank.
In an official statement signed by Mrs. Olufunmilola Aluko, Chief Brand and Marketing Officer, the Bank affirmed its disagreement with the judgment and disclosed that it has instructed its legal team to file an appeal immediately.
“While we respect the authority of the court, we strongly disagree with the judgment delivered,” the Bank stated.
“The court’s findings, including positions on consolidation of indebtedness, locus standi, and third-party liability, contradict both established legal principles and the Bank’s understanding of the facts.”
Union Bank clarified that the debt obligations in question had been transferred to the Asset Management Corporation of Nigeria (AMCON) in accordance with relevant laws and best banking practices. It further emphasized that all actions taken were lawful and professionally executed.
Reassuring its stakeholders, Union Bank stated:
“We operate with the highest standards of professionalism, ethics, and legal compliance. We remain committed to good faith practices, protecting stakeholder interests, and upholding the legacy of integrity that has defined Union Bank for over a century.”
Despite the ongoing legal process, the Bank remains resilient and focused on delivering exceptional service and value to its customers.
Union Bank concluded by thanking customers, partners, and the public for their continued trust and support as it seeks justice through the appellate court.
