OySun News can confirm that Truth Live News, a renowned media outlet in Nigeria but headquartered in the UK, has published an exclusive investigative report alleging a deep-rooted $64 million contract scandal involving Zenith Bank Plc and the Supreme Court of Nigeria.
According to the publication, the matter centres on a breached Letter of Credit under Contract No. JYOONL-001/KTTA140415, originally signed between Owigs and Obigs Nigeria Ltd and Zenith Bank, in which the bank reportedly defaulted on its legal obligation as Confirming Bank.
Truth Live News reports that the dispute, which was brought before the Supreme Court under Appeal No. SC/CV/709/2020, allegedly saw the judiciary erase Zenith Bank’s role and fabricate a new judgment that shifted responsibility away from the bank and onto the Seller.
The report quoted Mr. Emeka Okorie, CEO of Owigs and Obigs, describing the judgment as “criminally altered” and expressing concern over the erosion of contractual integrity and judicial trust.
According to documents cited in the report and submitted to the National Judicial Council, the Supreme Court’s judgment allegedly referenced a fabricated Letter of Credit that excluded key banking parties and violated UCP rules that govern global trade finance.
Civil society groups were said to have reacted with outrage, with some filing formal petitions to the NJC to review what they see as an intentional judicial manipulation that threatens Nigeria’s commercial credibility.
In the publication, a legal analyst was quoted warning that if the allegations hold, the Nigerian judiciary risks losing both domestic confidence and international legitimacy.
Truth Live News stated that neither Zenith Bank nor the Supreme Court responded to official inquiries, although a lawyer for the bank denied awareness of any wrongdoing.
According to the same report, the chief registrar of the Supreme Court reportedly declined comment, while the deputy registrar acknowledged knowledge of the case but redirected all inquiries.
Mr. Okorie was also quoted as saying his company had briefed major international media and lawmakers in the UK to escalate the matter beyond Nigeria.
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He stressed that the case goes beyond his company and speaks directly to the survival of fair business practice and judicial integrity in Nigeria.
Truth Live News maintains that the evidence it reviewed shows discrepancies serious enough to warrant urgent national and international attention.
OySun gives full credit for this investigation and all referenced findings to Truth Live News.
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