Stallion Group has filed an appeal against the judgement delivered by the Federal High Court, Lagos, on 16 October 2026 in Suit No. FHC/L/CS/2074/2023: UBA Plc & Ors v. Stallion Nigeria Ltd & Ors.
The judgement arose from a commercial dispute initiated by UBA Plc in 2023. Stallion Group respectfully but firmly disagrees with the decision. Having reviewed the judgement with its legal advisers, the Group considers that there are strong grounds for appellate review and is determined to pursue its rights through the courts.
A Notice of Appeal has been filed at the Court of Appeal and stay of execution of the judgment pending the hearing and determination of the appeal.
Stallion Group will pursue the appeal vigorously and will continue to respect the judicial process. The Group has confidence in the appellate courts and in their ability to consider the issues raised on appeal.
The Group’s operations continue. We ask our employees, customers, business partners and other stakeholders to rely on verified information and not on speculation or sensational reports about a matter that is now before the appellate court.
Issued by
ABDULSALAM GAFFAR OLATOKUNBO
STALLION GROUP
16 October 2026
