Former APC Presidential aspirant demands £990 trillion in damages, accuses CBN and banks of rights violations, financial misconduct, and obstruction of access to funds
In a dramatic legal move, Mr. Tunde Omosebi, a former presidential aspirant under the All Progressives Congress (APC) in the 2023 elections, has filed a £990 trillion lawsuit against the Central Bank of Nigeria (CBN) and several others for alleged breaches of his fundamental rights.
The suit, filed before Justice James Omotosho of the Federal High Court in Abuja, also seeks an order to transform the CBN into a “Reserve Bank of Nigeria (RBN).” Omosebi further requested that the implicated commercial banks be renamed “DRIG BANK” at the Corporate Affairs Commission (CAC) due to their alleged financial misconduct and role in Nigeria’s economic challenges.
Omosebi is demanding £99 trillion in exemplary damages and 10% interest on the recoverable amount. He also seeks N5 million to cover the cost of filing the suit, citing the traumatic experiences caused by the alleged violations.
Grounds for the Lawsuit
In the suit marked FHC/ABJ/CS/766/2024, the CBN, United Bank for Africa (UBA), Guarantee Trust Bank (GTB), Zenith Bank, the Senate, and the House of Representatives were named as the first to sixth defendants. The Ministry of Finance and other banks were also included as co-defendants.
Omosebi, a self-proclaimed businessman and politician, claims the defendants breached an industrial agreement, violated his rights under the 1999 Constitution, and obstructed his access to personal and corporate accounts.
In his affidavit, Omosebi alleged that over £500 billion was entrusted to some of the defendants, but these funds remain unaccounted for. He also claimed the banks blocked his accounts for seven months without justification and failed to credit $50 million, allegedly promised in 2022.
He further accused the defendants of intellectual property theft and other rights violations, including presenting falsified statements purportedly signed by him.
Controversial Statements
Omosebi, who referred to himself as the “Chairman of the Federation Executive Council” and “Prime Minister of the Federal Republic of Nigeria”—positions unrecognized in the constitution—argued that the defendants undermined agreements made during what he called the “Assembly of Business Owners and Federal Executive Council.”
Legal History and Disputes
This isn’t the first controversy surrounding Omosebi. On November 15, 2024, he was evicted from his high-end Abuja residence following a protracted legal battle over unpaid rent. The landlord, revealed that Omosebi had overstayed his lease by four years and failed to defend his ownership claims in court, leading to a judgment against him.
Court Proceedings
The case is set for hearing on February 5, 2025. Omosebi is seeking judgment based on what he described as “abusive conduct” and disregard for constitutional rights by the defendants.
Whether this £990 trillion claim will be entertained remains to be seen, but the lawsuit has already sparked widespread debate over its scope and credibility.
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