Thursday, 16 Jul 2026
  • My Feed
  • My Interests
  • My Saves
  • History
Subscribe
EquityTV
  • Home
  • World
  • Health

    NERC Orders Registration of Grid-Connected Private Transmission Stations

    By
    Roheemat Asipita Musa

    Tinubu Picks APC Nomination Form for 2027 Re-election Bid

    By
    Roheemat Asipita Musa

    Nigerian Airlines Threaten Shutdown Over Soaring Jet Fuel Prices

    By
    Roheemat Asipita Musa

    CDS Oluyede Refutes Claims of Christian Genocide in Nigeria, Reaffirms Commitment to Global Anti-Terror Efforts

    By
    Roheemat Asipita Musa

    Dangote Refinery Cuts Petrol Price to N1,200/Litre

    By
    Roheemat Asipita Musa

    PDP Reveals Why it Chose Jonathan as Sole Presidential Candidate

    By
    Roheemat Asipita Musa
  • Politics
  • Sport
  • Opinion
  • Travel
  • Tech
  • World
  • Politics
  • Travel
  • Opinion
  • Health
  • Tech
  • My Feed
  • My Saves
  • My Interests
  • History
  • History
  • About Us
  • Contact
  • Privacy Policy
  • Terms of Use
  • DMCA
  • Cookies Policy
  • 🔥
  • equityTV
  • Politics
  • Opinion
  • World
  • Sport
  • Education
  • Business
  • Health
  • Entertainment
  • Travel
Font ResizerAa
EquityTVEquityTV
  • World
  • Politics
  • Travel
  • Opinion
  • Health
  • Tech
Search
  • Personalized
    • My Feed
    • My Saves
    • My Interests
    • History
  • Categories
    • World
    • Opinion
    • Politics
    • Tech
    • Travel
    • Health
    • Opinion
    • Sport
Follow US
©Web Design by APPSVILLA . All Rights Reserved.
EquityTV > equityTV > Court Dismisses UBA’s ₦57.4 Million Debt Recovery Suit, Orders Refund To Customer
equityTV

Court Dismisses UBA’s ₦57.4 Million Debt Recovery Suit, Orders Refund To Customer

Roheemat Asipita Musa
Last updated: March 27, 2026 3:45 pm
Roheemat Asipita Musa
Share
SHARE

The Lagos State High Court, Tapa Commercial Division, has dismissed a ₦57.4 million debt recovery suit filed by United Bank for Africa (UBA) Plc against Mr Arueyingho Gbemi Mac, ending a legal battle that began in 2013.

In suit No. LD/146/2013, Justice A. M. Ipaye ruled that UBA failed to prove that the defendant owed the claimed sum under a 2007 mortgage facility. The court instead found that Mr Mac was entitled to a credit balance of ₦7,574,592.87 after a detailed audit of the account.

UBA, represented by Mrs G. Opeyokun, had sought repayment with 22 per cent annual interest and requested authority to sell a mortgaged property in Lekki Phase 1, Lagos, citing default. The defendant, through Emmanuel Umoren, contested the claim and filed a counterclaim citing excessive charges, unlawful interest, and breaches of contractual and regulatory obligations, arguing that the bank acted prematurely before the loan’s 10-year tenor expired.

A court-commissioned auditor, approved through the Chartered Institute of Bankers of Nigeria, found that UBA imposed excessive charges exceeding ₦51.9 million, including inflated interest and unauthorised fees, contrary to Central Bank of Nigeria guidelines.

Justice Ipaye held that while the bank had contractual rights to call in the loan upon default, it breached its fiduciary duty by applying unlawful charges. “The claimant has failed to prove its entitlement to the reliefs sought,” the judge stated, adding that the right to sell the mortgaged property could not arise without a proven debt.

The court dismissed all claims by UBA and set aside a previous interlocutory judgment granted in 2014.

Share this:

  • Share on Facebook (Opens in new window) Facebook
  • Share on X (Opens in new window) X

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Share This Article
Facebook Whatsapp Whatsapp Telegram Copy Link
Previous Article ASUU Gives FG Four-Day Ultimatum to Implement New Salary Structure
Next Article FCT Minister Allocates Lands to Traditional Rulers, Waives Statutory Fees
Leave a Comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Your Trusted Source for Accurate and Timely Updates!

Our commitment to accuracy, impartiality, and delivering breaking news as it happens has earned us the trust of a vast audience. Stay ahead with real-time updates on the latest events, trends.
FacebookLike
XFollow
InstagramFollow
LinkedInFollow
MediumFollow
QuoraFollow
- Advertisement -
Ad image

Popular Posts

INEC Seeks Stronger Police Collaboration Ahead of 2027 General Elections

Chairman of the Independent National Electoral Commission (INEC), Joash Amupitan, has called for stronger collaboration…

By
Roheemat Asipita Musa

Tinubu Mourns Late Super Eagles Midfielder Henry Nwosu

Bola Tinubu has condoled the family of late Super Eagles midfielder Henry Nwosu, who died…

By
Roheemat Asipita Musa

ADC Unveils Timetable for 2026 Primaries, Fixes Presidential Form at ₦100m

The African Democratic Congress (ADC) has released its timetable for the 2026 primary elections, outlining…

By
Roheemat Asipita Musa

You Might Also Like

equityTV

Gunmen Abduct Principal, Students in Oyo School

By
Roheemat Asipita Musa
equityTV

Nasarawa Police Intensify Security Ahead of Yuletide Festivities

By
Roheemat Asipita Musa
equityTV

Shettima Flags Rising Out-of-School Children as National Emergency, Calls for Joint Action

By
Roheemat Asipita Musa
equityTVSport

Super Eagles Blow Mozambique Away 4–0, March into AFCON Quarter-Finals

By
Roheemat Asipita Musa
EquityTV
Facebook Twitter Youtube

About US

euityTV is your daily dose of news, delivered with integrity and insight. We’re a team of passionate Nigerian journalists dedicated to bringing you the stories that matter most, every single day.

Together, let’s build a more informed and engaged Nigerians.

Top Categories
  • World
  • Opinion
  • Politics
  • Tech
  • Health
  • Sport
  • Travel
Usefull Links
  • DMCA
  • About Us
  • Contact Us
  • Cookies Policy
  • Terms of Use
  • Privacy Policy
  • Complaint

© Copyright| All Rights Reserved | Powered by APPSVILLA

This website uses cookies to improve your experience. We\'ll assume you\'re ok with this, but you can opt-out if you wish. Read More

Decline Cookie Settings
Accept All
Powered by WPLP Compliance Platform
Cookies are small text files that can be used by websites to make a user\'s experience more efficient. The law states that we can store cookies on your device if they are strictly necessary for the operation of this site. For all other types of cookies we need your permission. This site uses different types of cookies. Some cookies are placed by third party services that appear on our pages.
  • Necessary
    Always Active
    Necessary cookies help make a website usable by enabling basic functions like page navigation and access to secure areas of the website. The website cannot function properly without these cookies.

  • Marketing
    Marketing cookies are used to track visitors across websites. The intention is to display ads that are relevant and engaging for the individual user and thereby more valuable for publishers and third party advertisers.

  • Analytics
    Analytics cookies help website owners to understand how visitors interact with websites by collecting and reporting information anonymously.

  • Preferences
    Preference cookies enable a website to remember information that changes the way the website behaves or looks, like your preferred language or the region that you are in.

  • Unclassified
    Unclassified cookies are cookies that we are in the process of classifying, together with the providers of individual cookies.

Powered by WPLP Compliance Platform
Cookie Settings
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?