Lagos, Nigeria — March 27, 2026
The Tapa Commercial Division of the Lagos State High Court has dismissed a debt recovery suit filed by United Bank for Africa (UBA) Plc against a customer, Mr Arueyingho Gbemi Mac, ending a legal battle that spanned over a decade.
Justice A. M. Ipaye, presiding over the case marked LD/146/2013, ruled that UBA failed to prove its claim that the defendant owed ₦57.4 million under a 2007 mortgage facility.
Instead, the court found that the customer was entitled to a credit balance of ₦7.57 million after an independent audit revealed excessive and unauthorised charges imposed by the bank.
The audit, conducted under the supervision of the Chartered Institute of Bankers of Nigeria, uncovered inflated interest and unlawful fees totalling ₦51.9 million, in violation of Central Bank of Nigeria (CBN) guidelines and the Banks and Other Financial Institutions Act (BOFIA).
Justice Ipaye held that while UBA had the contractual right to call in the loan upon default, it breached its fiduciary duty by applying unlawful charges.
Consequently, the court dismissed all of UBA’s claims, set aside an earlier interlocutory judgment granted in 2014, and ordered the bank to return all title documents to the customer.
The ruling also awarded ₦7.57 million to Mr Mac, with 10 per cent annual interest until full payment, underscoring the judiciary’s stance against exploitative banking practices.
#UBACourtCase #LagosHighCourt #DebtRecovery #NigeriaBanking #CBN #BOFIA #FinancialJustice #UBA
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