Stallion Group has filed an appeal against a Federal High Court judgment delivered in Lagos on Friday, in a commercial dispute involving United Bank for Africa (UBA) Plc.
The appeal concerns Suit No. FHC/L/CS/2074/2023, UBA Plc & Ors v. Stallion Nigeria Ltd & Ors, which arose from a commercial dispute initiated by UBA in 2023.
A statement signed by Abdulsalam Gaffar Olatokunbo on behalf of Stallion Group on Friday said it disagreed with the court’s decision and believed there were grounds for appellate review.
“Having reviewed the judgment 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,” the statement said.
The group disclosed that it had filed a Notice of Appeal at the Court of Appeal, alongside an application for a stay of execution of the judgment pending the hearing and determination of the appeal.
Stallion Group said it would pursue the appeal while respecting the judicial process.
“The Group has confidence in the appellate courts and in their ability to consider the issues raised on appeal,” it added.
The company also assured its employees, customers, business partners and other stakeholders that its operations remained ongoing despite the legal dispute.
“The Group’s operations continue,” the statement said.
It urged stakeholders to rely on verified information rather than speculation or sensational reports, noting that the matter was now before the appellate court.