COURT JAILS TWO FOR N14.8M FRAUD IN MAIDUGURI. (PHOTO). #PRESS RELEASE.

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 Court Jails Two for N14.8m Fraud in Maiduguri Justice B.T Zannah of the Borno State High Court sitting in Maiduguri, on Monday, July 13, 2026 convicted and sentenced two to three years imprisonment. The convicts are: Babagana Bukar and Hauwa Chabri.  The convicts were arraigned on Monday, July 13, 2026 by the Maiduguri Zonal Directorate of the Economic and Financial Crimes Commission, EFCC, on a separate one -count charge for the offence of criminal misappropriation to the tune of N14,800,000.00 (Fourteen  Million, Eight Hundred Thousand Naira). The charge against Bukar reads: "That you, Babagana Bukar sometimes in 2025 at Maiduguri, Borno State within the jurisdiction of this honourable court, dishonestly misappropriated and converted to your own use the aggregate sum of N8,800,000.00 (Eight Million, Eight Hundred Thousand Naira)  money belonging to Bunu Gambo Liman, being amount given to you through Babakura Umar and Bello Adamu for the supplies of 100 bags of IRS...
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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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