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‘False, Malicious’ – Banire Threatens Legal Action Over $40m Bribery Claim.
Former AMCON Governing Board Chairman, Dr. Muiz Banire (SAN), has demanded an immediate retraction of a report by online platform PointBlank News that alleged he and other lawyers received millions of dollars in bribes to influence court judgments.....KINDLY READ THE FULL STORY HERE▶
Banire warned that failure to retract the publication would leave him no choice but to initiate a defamation lawsuit against the platform’s publisher and editors.
In a pre-action demand letter sent through his lawyer, Adeyinka Patrick Olumide-Fusika, SAN, Banire described the article titled “$2 Billion Bank Debt: Nestoil, Neconde Demand $40 Million Refund from Lawyers After Supreme Court Defeat” as false, malicious, and highly defamatory. The letter, obtained by Naija News, was addressed to PointBlank News publisher Jackson Ude, Senior Editor (Africa) Ben Young, and Nigeria Editor Uduma Mba.
The report had alleged that Banire received part of an alleged $40 million paid to lawyers to secure a favourable Supreme Court judgment in a debt dispute between Nestoil Limited and Neconde Energy Limited. It also claimed his involvement in a separate Federal High Court case, suggesting $5 million was paid to influence an order lifting asset-freezing directives linked to a $1 billion debt.
According to Banire’s letter, the publication conveyed serious imputations of conspiracy, bribery, fraud, and attempts to pervert the course of justice—offences punishable under Nigerian law.
Olumide-Fusika said Banire, known for his anti-corruption advocacy and efforts to strengthen public confidence in the judiciary, was deeply distressed to be associated with what he described as “serious crimes and nefarious activities.”
He criticised the report for relying solely on unnamed sources, including a purported “reporter” and “insider,” without providing evidence to substantiate the claims. Banire challenged PointBlank News to produce verifiable proof of the alleged $40 million and $5 million payments, insisting that without such evidence, he would proceed with legal action.
Banire also clarified the actual events at the Supreme Court in Neconde Energy Limited v. FBNQuest Merchant Bank Limited & 4 Others (SC/CV/1130/2025). He stated that his only involvement was on January 12, 2026, during proceedings limited strictly to the issue of legal representation for some parties. The Supreme Court did not hear or determine any substantive matter relating to the alleged debt.
A Certified True Copy of the ruling, attached to the letter, showed that the court merely adjourned the applications pending the outcome of a related appeal at the Court of Appeal. Banire noted that the ruling directly contradicted the report’s claim that the Supreme Court issued a substantive judgment or that any lawyer collected money to influence the outcome.
He added that the publication’s reliance on unnamed sources suggested the platform may have been misled, whether intentionally or inadvertently.
Banire has demanded the immediate retraction of the article and reserved all his legal rights.
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