A Magistrate Court sitting in Osogbo, Osun State, has ordered the United Bank for Africa (UBA) to stop releasing or managing local government funds on behalf of individuals identified as members of the All Progressives Congress (APC) who claim to be council chairmen in the state. The court also reaffirmed an earlier bench warrant issued for the arrest of senior UBA officials, insisting that criminal proceedings against them must continue.
In a ruling delivered on Tuesday, Magistrate Adeyeba restrained the bank from conducting any transactions with individuals “parading themselves as local government chairmen” pending the conclusion of the case. The court said the order was necessary in the public interest to prevent further abuse of local government funds and barred UBA from recognising or operating any accounts on behalf of Osun local councils.
The case stems from allegations that UBA illegally opened and operated accounts for Osun State local governments. The court recalled that on January 30, 2026, it issued bench warrants against UBA Group Managing Director Oliver Alawuba, Group Legal Adviser Billy Odura, and Deputy Managing Director Chukwuma Nweke for failing to honour court summons.
Counsel to the bank, H.B. Williams, asked the court to stay proceedings, arguing that the officials had approached the High Court to quash the case. However, Osun State Government counsel, Abiodun Badiora, opposed the request, citing the Osun State Administration of Criminal Justice Law, which prohibits the staying of criminal proceedings. The magistrate agreed, ordered the trial to continue, and reaffirmed the arrest warrants against the affected UBA officials.