Court Halts Criminal Allegations Against Sterling Bank Executives

On Wednesday, the Federal High Court in Lagos reaffirmed its earlier order that restrains parties from taking further steps concerning criminal allegations made against Sterling Bank and its top executives. This decision was reiterated by Justice D.

E. Osiagor during proceedings related to suit number FHC/L/CS/158/2025, involving Sterling Bank Limited and five other plaintiffs, represented by Femi Falana, SAN, Funmi Falana, SAN, and Taiwo E.

Olawanle. The court directed that no further actions be taken regarding the criminal allegations against the bank and its officials until the substantive suit is determined.

The matter has been adjourned to May 11, 2026. The allegations stem from a dispute over a loan facility of $17,079,000 granted to Miden System Limited in 2009, which the bank claims was not repaid.

Despite a consent judgment acknowledging liability of $31.3 million, the plaintiffs have sought to challenge the National Assembly's power to investigate private individuals and corporate bodies in matters already subject to court proceedings.