UBA claims court victory in N156 billion debt dispute with Stallion Group, Vaswani brothers
United Bank for Africa (UBA) Plc says it has secured a favourable judgment at the Federal High Court in Lagos in its long-running dispute with Stallion Group and the Vaswani brothers over an alleged N156 billion debt.…
UBA, one of Nigeria's largest banks by assets, has been locked in a protracted legal battle with Stallion Group — a diversified conglomerate with interests in rice importation, automobile distribution and other trade businesses — and its founders, the Vaswani brothers, over an alleged outstanding debt running into tens of billions of naira. Disputes of this scale between Nigerian banks and major corporate borrowers often stem from disagreements over loan restructuring, interest accrual, or the terms of credit facilities extended over several years, and such cases can take years to resolve through litigation while also affecting the bank's non-performing loan disclosures to regulators and shareholders.
Both Nairametrics and BusinessDay report that the Federal High Court in Lagos has ruled in UBA's favour, framing the outcome as a win for the bank in its bid to recover the N156 billion sum. Neither report, as summarised, specifies the exact terms of the judgment, whether Stallion Group or the Vaswani brothers plan to appeal, or the timeline for recovery of the funds — details that are likely to shape how this dispute concludes.