Union Bank of Nigeria has announced plans to appeal a recent judgment by Justice Abike Fadipe of the Ikeja High Court involving Senator Jimoh Ibrahim, NICON Investment Limited, Global Fleet Group and the bank.
In a statement signed by Mrs. Olufunmilola Aluko, the bank’s Chief Brand and Marketing Officer, Union Bank expressed its respect for the court but maintained strong disagreement with the ruling, describing aspects of the judgment as inconsistent with established legal principles and its understanding of the case.
“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 court’s decision reportedly touched on key issues including the consolidation of indebtedness, locus standi, and third-party liability, positions Union Bank says conflict with both banking norms and the legal record.
The bank also clarified that the debt in question had been previously transferred to the Asset Management Corporation of Nigeria (AMCON), and stressed that all steps taken in the matter complied with relevant laws and regulatory practices.
“We are confident in our legal position and intend to vigorously pursue all lawful avenues to ensure that justice is served,” the bank stated.
Reaffirming its commitment to transparency and ethical conduct, Union Bank emphasized its dedication to safeguarding stakeholder interests and preserving the integrity it has built over more than a century.
“We appreciate the continued trust and support of all stakeholders as we navigate this legal process,” the statement concluded.