OSUN STATE GOVERNMENT Vs UBA: Magistrate Court Restrains UBA From Conducting Any Business Transaction With Yes/No Chairmen Under Any Guise




 BREAKING NEWS:

OSUN STATE GOVERNMENT Vs UBA: Magistrate Court Restrains UBA From Conducting Any Business Transaction With Yes/No Chairmen Under Any Guise

—— Upholds Bench Warrant Issued to Senior UBA Officials

The Magistrate Court Sitting in Osogbo, Osun State on Tuesday 10th February restrained the United Bank of Africa (UBA) from conducting any business transaction with any individual parading themselves as Chairmen of local government councils across Osun State until the final determination of the ongoing criminal trial involving 4 senior officials of the bank. 

Magistrate Adeyeba while delivering the ruling noted that for the interest of the public and to prevent further perpetration of any criminal act involving public funds, UBA has been restrained from given recognition to any individual or group of individuals from opening, maintaining and operating  any account for/on behalf of any local government councils in Osun State. 

Recall that on the 30th January, 2026, the Magistrate court issued a bench warrant to top officials of the UBA namely; Group Managing Director (Oliver Alawuba), Group Legal Adviser (Billy Odura), and Deputy Managing Director (Chukwuma Nweke) on the allegation for failing to honor court summons regarding the alleged illegal operation of accounts for Osun Local Government Councils.

Appearing for the defendants, H.B Williams, argued that the defendants who failed to appear in court had filed an application at the High Court  to quash the ongoing criminal case proceeding at the Magistrate court. He further argued that until the hearing and determination of the case, the Magistrate should stay proceedings of the criminal case. 

In response,  Abiodun Badiora, appearing for the Osun State Government presented that an appeal has been entered with case number CA/AK/17/2026 and has been duly served which in effect, the Osun State High Court has adjourned the case indefinitely. He went further to posit under section 301 of the Administration of Criminal Justice Law of Osun State 2025, staying of criminal proceedings has been totally prohibited and abolished. He submitted further that once an order has been appealed against, compliance with it is in abeyance until the appeal is finally disposed of.

He also applied that while the criminal proceeding continues, he urged the court to stop UBA and her officials from committing further crime by restraining the bank from further conducting any business dealings with any individual or group of individuals parading themselves as Chairmen of local government councils in Osun State. 

The Magistrate at the end of today's proceedings granted the State Government's request to bind UBA from further dealing with any individual with respect to Osun local government funds pending the final conclusion of the criminal trial involving UBA and its officials. Furthermore, he ruled that the criminal charge be continued and adjourned to February 28th, 2026.

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