Stallion Group has filed an appeal against the judgment delivered by the Federal High Court, Lagos, on October 16, 2026 in Suit No. FHC/L/CS/2074/2023: UBA Plc and Ors v. Stallion Nigeria Limited & Others.
The judgment arose from a commercial dispute initiated by UBA Plc in 2023.
A statement by Abdulsalam Gaffar Olatokunbo said Stallion Group respectfully but firmly disagrees with the decision, adding that having reviewed the judgment with its legal advisers, it considered that there are strong grounds for appellate review and is determined to pursue its rights through the courts.
The Group noted that 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.
It added that it would pursue the appeal vigorously and will continue to respect the judicial process.
The Group said it has confidence in the appellate courts and their ability to consider the issues raised in the 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,” the stressed.