THE SUPREME Court of Nigeria has dismissed a motion filed by Union Bank of Nigeria (UBN) seeking to amend its Notice of Appeal in the long-running legal dispute involving Petro Union Oil & Gas Ltd., the Central Bank of Nigeria (CBN), the Minister of Finance, and the Attorney General of the Federation.
The ruling, delivered on Friday, May 23, 2025, by a five-member panel of the apex court, rejected UBN’s request to introduce eight new grounds of appeal after both parties had already filed and exchanged their appellate briefs.
The panel, presided over by Hon. Justice Mohammed Lawal Garba, included Hon. Justice Adamu Jauro, Hon. Justice Jummai Sankey, Hon. Justice Obande Ogbuinya, and Hon. Justice Abubakar Umar.
While D.D. Dodo, SAN, and Olabisi Soyebo, SAN, appeared for the appellants during the hearing, Petro Union was represented by Joe-Kyari Gadzama, SAN, leading a team from J-K Gadzama LLP, including Sarah Atumga, Hajara Sorondinki, and Abubakar Kachallah.
The legal battle stems from a 1994 cheque issued by a foreign bank, with Petro Union claiming entitlement to £2.5 billion.
The Federal High Court in Abuja had ruled in Petro Union’s favour, declaring that the CBN and other government agencies wrongfully refused to process the funds.
This decision was later upheld by the Court of Appeal, prompting an appeal to the Supreme Court by Union Bank, the CBN, and the Federal Government.
The motion, argued by Chief Awomolo, SAN, on behalf of UBN, was opposed by Darlington Onyekwere of J-K Gadzama LLP, representing Petro Union.
The Attorney General of the Federation, Lateef Fagbemi, SAN, also opposed the motion on behalf of the CBN and the Federal Government.
The Supreme Court held that granting the amendment would undermine its earlier ruling, which had dismissed a similar motion by the appellants to introduce fresh evidence.
The court emphasized that the proposed new grounds of appeal were an attempt to circumvent its previous decision.
With this dismissal, the Supreme Court has cleared the way for the substantive appeal to proceed. The case has drawn significant attention due to the staggering £2.5 billion judgment sum awarded to Petro Union by the lower courts.
Earlier, on April 29, 2025, the Court of Appeal, Abuja Division, had also dismissed two motions by the CBN seeking to adduce fresh evidence, citing that the evidence had been available for over 20 years and did not meet the legal requirements for admission.
The Supreme Court’s decision marks a pivotal moment in the case, setting the stage for the final determination of the appeal.
Legal analysts anticipate that the apex court’s eventual ruling will have far-reaching implications for financial and contractual disputes in Nigeria.
The matter continues to be closely watched by stakeholders in the banking, legal, and government sectors as it approaches its conclusion.
