By Peter Onyekachukwu 
By Peter Onyekachukwu, Warri
DELTA: A legal battle between former TAJ Bank Head of Agribusiness, Oluseyi Owolabi, and the financial institution has intensified, as the National Industrial Court in Lagos has set March 19, 2025, for the commencement of trial over bribery allegations.
The case, presided over by Justice Essien, was adjourned after TAJ Bank requested additional time to file its defense. Counsel for both parties, A.I. Obinyan for the claimant and Z. Folami for the defendant, agreed to the adjournment.
Owolabi had dragged the bank to court, alleging that he was wrongfully accused of soliciting bribes from customers in exchange for fast-tracking credit facility approvals. He claimed that instead of investigating the transactions thoroughly, TAJ Bank’s management made him a scapegoat while shielding other staff responsible for processing the approvals.
In a statement filed before the court, Owolabi refuted the bribery allegations, stating that his role as an agricultural officer was to identify viable business transactions and refer them to the appropriate departments. “Rather than conducting a proper review, the bank has chosen to sacrifice me while protecting the real decision-makers,” he alleged.
He further narrated how he was subjected to emotional distress by the bank’s management, particularly during an online meeting in August 2023, when he was forced to participate despite being on vacation to care for his ailing father.
“The Managing Director, Hamid Joda, compelled me to attend a meeting where I was mentally tortured with threats. Yet, my record shows that I went to great lengths to protect the bank’s agribusiness portfolio,” Owolabi stated.
He added that he and a colleague personally contributed resources to recover funds from a customer, Mama Benz Limited, in Kaduna, emphasizing that his contributions had significantly benefited the bank.
Owolabi argued that the disciplinary proceedings against him were a ploy to exonerate top officials, citing nepotism as a major factor in the bank’s handling of the case. He urged the court to rule in his favor, stating that TAJ Bank’s defense lacked merit.
With the trial set to begin in March, the case promises to shed light on internal operations at the bank and the handling of financial misconduct allegations in Nigeria’s banking sector.