UBA Seeks Jail Term for WEMPCO Linked Individuals

United Bank for Africa (UBA) Plc has requested the Federal High Court in Lagos to imprison nine individuals connected to Western Metal Products Co. (WEMPCO). The bank alleges these individuals forced a court-appointed receiver out of the group’s steel plant in Ogun state.

The legal action is part of UBA’s effort to recover N61.45 billion that the industrial group allegedly owes. The bank claims the respondents violated an April 2 order and demands they remain in custody until they comply with court directives.

The individuals named in the application include Ola Yusuf, Tung Lawrence Blake, Alli Aare Hadji Tokunbo, Paul Shui Po Tung, Robert Tung, CL Ip and Taiwo Alli, all listed at 18 Wempco Road, Ogba, Ikeja.