BALA MOHAMMED'S CANDOR: A LESSON IN STATESMANSHIP FOR THE SOUR GRAPES OPPOSITION- BY OKOI OBONO-OBLA. (PHOTO). #PRESS RELEASE

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 BALA MOHAMMED'S CANDOR: A LESSON IN STATESMANSHIP FOR THE SOUR GRAPES OPPOSITION By Okoi Obono-Obla  Governor Bala Mohammed of Bauchi State deserves unreserved commendation for his rare candour and statesmanship. In an era where opposition politics in Nigeria has been reduced to perpetual wailing, cynicism and playing to the gallery, Bala Mohammed has risen above partisanship to speak truth to power in the most patriotic sense. Despite being the National Leader of the Allied Peoples Movement (APM) and a key pillar of his party's presidential ticket, Governor Mohammed did what very few Nigerian politicians dare to do: he publicly appreciated President Bola Ahmed Tinubu for his bold, courageous and transformative reform agenda. This is leadership. This is maturity. This is putting Nigeria first. President Tinubu has done what others feared to do. He has brought a semblance of order and transparency to the opaque, previously cabal-infested oil and gas sector. Where subsidy fraud...
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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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