Instructs lawyer to file for appeal
Admin I Wednesday, July 09, 2025
LAGOS, Nigeria – Union Bank of Nigeria Plc has reacted to the judgement of a Lagos High Court sitting in Ikeja on the case relating to NICON Investment, Global Fleet, Jimoh Ibrahim and the bank.
In a statement, Mrs. Olufunmilola Aluko, Chief Brand and Marketing Officer Union Bank assured customers, partners, and the public that Union Bank operates with the highest levels of professionalism, ethical conduct, and legal compliance in all its dealings.
Aluko added: “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”, she said.
She noted that the court’s findings, including its position on the consolidation of indebtedness, locus standi, and third-party liability, are at variance with established legal principles and the Bank’s understanding of the facts.
“We are confident in our legal position and intend to vigorously pursue all lawful avenues to ensure that justice is served.
“Union Bank had previously transferred the relevant debt obligations to the Asset Management Corporation of Nigeria (AMCON), and we maintain that all actions taken in this regard were in line with applicable laws and banking practice.
“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”, she said.
The Chief Brand and Marketing Officer said the Bank remains resilient and focused on continuing to deliver excellent service and value to its customers.
“We appreciate the continued trust and support of all stakeholders as we navigate this legal”.
