EFCC ARRAIGNS AUSTRIAN FOR UNDECLARED $800,585, €651,505 AT LAGOS AIRPORT. (PHOTO). #PRESS RELEASE.

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 EFCC Arraigns Austrian For Undeclared $800,585, €651,505 At Lagos Airport The Economic and Financial Crimes Commission, EFCC, Lagos Zonal Directorate 2, Okotie Eboh, Ikoyi, Lagos, on Friday, January 9, 2026, arraigned one  Kavlak Onal, an Austrian national arrested by the Nigeria Customs Service, NCS, for allegedly failing to declare the sums of $800,575 and €651,505 in his possession. He was arraigned before Justice Yelim Bogoro of the Federal High Court sitting in Ikoyi , Lagos.  Onal who was scheduled to travel on Emirates Airline to Dubai, was on Tuesday, December 16, 2025 intercepted  during a routine check at the AML/ CFT Currency Declaration Desk at the Murtala Muhammed International Airport, Ikeja, Lagos.
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APPEAL COURT AFFIRMS ORDER FOR UNION BANK SUBSIDIARY TO REFUND ₦75.5M EXCESS CHARGES. (PHOTO).

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 Appeal Court Affirms Order for Union Bank Subsidiary to Refund N75.5m Excess Charges


The Court of Appeal in Lagos has upheld a Lagos State High Court ruling ordering Union Homes Savings and Loans Plc, a subsidiary of Union Bank Plc, to refund N75.5 million in excess charges to Abimbola Foods Limited, along with accrued interest until full repayment.


In a lead judgment delivered by Justice Ntong Ntong, the appellate court ruled that Union Homes breached the terms of its loan agreement by calling in an N18 million loan prematurely and continuing to debit the respondent’s account by N16 million after terminating the transaction.


The court also upheld the order for Union Homes to release Abimbola Foods’ property title documents used as loan security and imposed a N200,000 cost against the bank. The justices condemned the excessive charges as exploitative and cautioned other banks against similar practices.


Abimbola Foods had accused Union Homes of violating their banker-customer relationship by making unauthorized withdrawals and failing to honor the loan terms agreed upon in a letter dated January 26, 2009. The Lagos State High Court ruled in its favor in 2017, prompting Union Homes to appeal the decision.


The appellate court rejected Union Homes' arguments, affirming that the respondent’s case was valid, forensic evidence was properly admitted, and the bank failed to substantiate its counterclaim. Consequently, the appeal was dismissed for lacking merit, with the trial court’s ruling remaining in effect.

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