By Obinna Uballa
United Bank for Africa (UBA) Plc is facing fresh legal headwinds after a Chief Magistrate’s Court sitting in Osogbo, Osun State, issued arrest warrants against the bank and four of its top executives, including the Managing Director and Chief Executive Officer, Mr. Oliver Alawuba, over the alleged illegal operation of bank accounts in the names of the 30 local government councils in the state.
The order, issued by the Chief Magistrate, Mr A. A. Adeyeba, followed the defendants’ alleged failure to honour court summons in a case filed by the Osun State Government and marked MOS/601c/2025.
In a Certified True Copy of the order titled “Warrant for Arrest of Defendant Who Has Disobeyed Summons (General Title – Form No. 1)” and addressed to the Osun State Commissioner of Police, the court directed security agencies to produce the defendants before it.
The court stated that a complaint had been made that the defendants “did allow unauthorised persons to operate and maintain 30 accounts opened in favour of the 30 Local Government Councils in Osun State with UBA Bank Plc.”
It further noted that the defendants had been duly served with summons but failed to appear in court, prompting the issuance of the warrant.
The defendants listed in the suit are UBA Plc; its Group Managing Director, Alawuba; the Company Secretary and Group Legal Adviser, Billy Odum; and the Deputy Managing Director, Chukwuma Nweke.
The case has been adjourned to February 10, 2026, for trial.
According to the charge sheet, the Osun State Government filed a 31-count charge against the bank and its officials, with each count tied to alleged infractions relating to the opening and operation of accounts for the state’s 30 local government councils.
In count one, the prosecution alleged that on or about December 9, 2025, and on subsequent dates at UBA’s Olonkoro, Osogbo branch, the defendants conspired to commit a felony by opening, operating and maintaining what it described as illegal local government council accounts.
The offence is said to be contrary to Section 516 of the Criminal Code, Cap 34, Volume 2, Laws of Osun State of Nigeria, 2002.
The defendants were further accused of permitting “unknown private individuals” to operate the accounts as signatories, despite the Osun State Local Government Service Commission having formally introduced the Directors of Administration and General Services, as well as the Directors of Finance of the councils, as the authorised signatories to the statutory accounts.
The prosecution argued that this action contravenes Sections 2 and 3(1) and (2) and is punishable under Section 5(1) and (2) of the Osun State Local Government Accounts Administration Law, 2025.
Court documents indicate that similar allegations were made in the remaining counts, all relating to the alleged unlawful opening and operation of accounts connected to the 30 local government councils in the state.
At the previous sitting in December 2025, the court had ordered that the defendants be served through their official email addresses and by substituted means, including newspaper publications.
The Osun case comes on the heels of a separate legal battle facing the bank in Lagos.
The New Diplomat had reported that the Economic and Financial Crimes Commission (EFCC) recently instituted a N4.3 billion alleged forex fraud case at the Ikeja Special Offences Court against UBA Plc, Muyiwa Akinyemi, Amangbo Stephen, Gesos Global Service Ltd, and Fedat Global Ltd.
When the matter came up before Justice Rahman Oshodi, none of the defendants appeared in court and no legal representation was announced on their behalf.
EFCC counsel, Mr Temitope Banjo, told the court that the defendants had been duly served with the charges but disclosed that the second and third defendants were “on the run.”
He sought an adjournment to enable the commission file applications to establish proof of service, a request the court granted, adjourning the matter to April 21, 2026, for arraignment.
The defendants in the Lagos case are being tried on a four-count charge bordering on conspiracy, stealing, money laundering and retention of proceeds of crime.
According to the EFCC, the alleged offences occurred between September 14, 2022, and March 20, 2023, in Lagos.
In one of the counts, the anti-graft agency alleged that the defendants fraudulently converted and stole N4.3 billion belonging to Energy Shield Petrochemical Ltd. The commission further alleged that the defendants conspired to sell foreign exchange above the rates stipulated by the Central Bank of Nigeria and subsequently laundered the proceeds.
UBA was specifically accused of retaining the funds in its account No. NGN0991931102, an action the EFCC said violates Section 17 of the EFCC (Establishment) Act, 2004.
