Union Bank of Nigeria has issued an official response following a recent judgment delivered by Justice Abike Fadipe of the Ikeja High Court concerning a legal matter involving Senator Jimoh Ibrahim, NICON Investment Limited, Global Fleet Group, and the Bank.
In a statement signed by Mrs. Olufunmilola Aluko, Chief Brand and Marketing Officer of Union Bank, the institution acknowledged the court’s decision but firmly expressed its disagreement with the ruling. The Bank has instructed its legal team to immediately file an appeal.
“While we respect the authority of the court, we strongly disagree with the judgment delivered and have instructed our lawyers to file an appeal against it immediately,” the statement read.
The Bank emphasized that the court’s findings—particularly on issues relating to consolidation of indebtedness, locus standi, and third-party liability—conflict with established legal principles and the Bank’s understanding of the matter.
Union Bank clarified that the debt obligations in question had previously been transferred to the Asset Management Corporation of Nigeria (AMCON), asserting that all actions taken in that regard were lawful and in line with best banking practices.
“We maintain that all actions taken in this regard were in line with applicable laws and banking practice,” the Bank noted.
Reaffirming its commitment to integrity, legal compliance, and professionalism, Union Bank assured its customers, partners, and the general public that it remains steadfast in its mission.
“We reiterate our unwavering commitment to acting in good faith, protecting stakeholder interests, and preserving the integrity that has defined our institution for over a century,” the statement added.
Union Bank concluded by thanking stakeholders for their continued trust and support, affirming that it remains resilient and focused on delivering quality service despite the ongoing legal challenge.
