By BONIFACE AKARAH

Stallion Group has challenged a Federal High Court judgment delivered in Lagos on October 16, 2026, filing an appeal and seeking a stay of execution pending the determination of the case by the appellate court.

The development was disclosed in a statement issued on Friday, October 16, by Abdulsalam Gaffar Olatokunbo of Stallion Group, concerning Suit No. FHC/L/CS/2074/2023, UBA Plc & Ors v. Stallion Nigeria Ltd & Ors.*

The judgment followed a commercial dispute initiated by United Bank for Africa (UBA) Plc in 2023.

Stallion Group said it disagreed with the court’s decision and believed there were grounds for an appeal after reviewing the judgment with its legal advisers.

“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 company disclosed that it had filed a Notice of Appeal at the Court of Appeal and applied for a stay of execution of the judgment pending the hearing and determination of the appeal.

It said it would pursue the appeal vigorously while continuing 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 statement added.

Stallion Group also assured employees, customers, business partners and other stakeholders that its operations were continuing despite the legal dispute.

“The Group’s operations continue,” it stated, urging stakeholders to rely on verified information rather than speculation or sensational reports about the matter, which is now before the appellate court.