UBA Secures Court Ruling Against Stallion Group Debt Claim

United Bank for Africa, UBA, Plc has obtained a court decision affirming Stallion Group’s debt obligation after a three-year legal process. The Federal High Court in Lagos ruled in UBA’s favor, granting all requested reliefs.

The court determined that reconciling accounts did not eliminate the debt, maintaining UBA’s claim of ₦156.03 billion owed by Stallion Group. This position was asserted by UBA when it initiated legal action in October 2023.

Stallion Group has publicly rejected UBA’s claim as entirely false, though the court’s judgment and its response remain unavailable for immediate review. UBA continues using the same receiver-manager to address additional claims totaling N61.45 billion.