Stallion Group companies remain unaffected and fully operational

Home News Headline Stories Top News More News Foreign Gender Investigations All Alabuga ReportsBlood on Uniforms Stalled wind farm project in Katsina typifies Nigeria’s struggle to build renewable-energy industry PREMIUM TIMES investigates TotalEnergies’ ‘zero routine flaring’ claim 2027: Fintiri’s exit, Atiku, Ribadu’s interests set stage for tight Adamawa governorship race INVESTIGATION: How Anthony Kila falsified all his academic qualifications – from Bachelor’s to Doctorate INVESTIGATION: The fake professor leading a Nigerian university INVESTIGATION: NUPRC fails to enforce Nigeria’s anti-flaring law as methane emissions go unchecked (2) Minna’s Cell of Death: Survivors recount how 37 mining suspects died in NSCDC custody Mambilla: How PREMIUM TIMES investigation helped Nigeria defeat Leno Adesanya at Paris Tribunal SPECIAL REPORT: In Kaduna, community peacebuilding offers way to stop disputes from becoming violent Business News Reports Financial Inclusion Analysis and Data Business Specials Trade Insights Opinion Oil/Gas Reports FAAC Reports Revenue Opinion All AnalysisColumnsContributorsEditorial Northern Nigeria’s tech turn: Solar, biotech and digital innovation can drive the change, By Mukhtar Yau Madobi Nigeria is not doomed: Countering the forces of polarisation, By Chris Ngwodo Does Africa need a seat at the UN Security Council, or a change in how power is exercised?, By Babafemi A. Badejo AI and 2027: who answers when technology gets it wrong?, By Dakuku Peterside Politics and economic efficiency, squaring the circle, By Uddin Ifeanyi EDITORIAL: Issues should dominate as campaigns kick-off Health News Reports Special Reports and Investigations Health Specials Features and Interviews Multimedia Primary Health Tracker Agriculture News Report Special Reports/Investigations Features Interviews Multimedia Arts/Life Arts/Books Kannywood Lifestyle Music Nollywood Travel Sports Football More Sports News Sports Features Casino iGaming Non AAMS Online Kaszinó Magyar Online Casino Österreich non Gamstop casinos Kasyna online Casino Uden Rofus Τα Καλύτερα Online Casino Casino Sin Licencia España Casino Utan Svensk Licens Beste online casinos Top cazinouri online Gokken Beste Online Casino Nederland Games كازينو اون لاين Geriausi kazino internetu Онлайн казино Казахстан Elections 2024 Ondo Governorship Election 2024 Edo Governorship Election Presidential Gubernatorial Home News Headline Stories Top News More News Foreign Gender Investigations All Alabuga ReportsBlood on Uniforms Stalled wind farm project in Katsina typifies Nigeria’s struggle to build renewable-energy industry PREMIUM TIMES investigates TotalEnergies’ ‘zero routine flaring’ claim 2027: Fintiri’s exit, Atiku, Ribadu’s interests set stage for tight Adamawa governorship race INVESTIGATION: How Anthony Kila falsified all his academic qualifications – from Bachelor’s to Doctorate INVESTIGATION: The fake professor leading a Nigerian university INVESTIGATION: NUPRC fails to enforce Nigeria’s anti-flaring law as methane emissions go unchecked (2) Minna’s Cell of Death: Survivors recount how 37 mining suspects died in NSCDC custody Mambilla: How PREMIUM TIMES investigation helped Nigeria defeat Leno Adesanya at Paris Tribunal SPECIAL REPORT: In Kaduna, community peacebuilding offers way to stop disputes from becoming violent Business News Reports Financial Inclusion Analysis and Data Business Specials Trade Insights Opinion Oil/Gas Reports FAAC Reports Revenue Opinion All AnalysisColumnsContributorsEditorial Northern Nigeria’s tech turn: Solar, biotech and digital innovation can drive the change, By Mukhtar Yau Madobi Nigeria is not doomed: Countering the forces of polarisation, By Chris Ngwodo Does Africa need a seat at the UN Security Council, or a change in how power is exercised?, By Babafemi A. Badejo AI and 2027: who answers when technology gets it wrong?, By Dakuku Peterside Politics and economic efficiency, squaring the circle, By Uddin Ifeanyi EDITORIAL: Issues should dominate as campaigns kick-off Health News Reports Special Reports and Investigations Health Specials Features and Interviews Multimedia Primary Health Tracker Agriculture News Report Special Reports/Investigations Features Interviews Multimedia Arts/Life Arts/Books Kannywood Lifestyle Music Nollywood Travel Sports Football More Sports News Sports Features Casino iGaming Non AAMS Online Kaszinó Magyar Online Casino Österreich non Gamstop casinos Kasyna online Casino Uden Rofus Τα Καλύτερα Online Casino Casino Sin Licencia España Casino Utan Svensk Licens Beste online casinos Top cazinouri online Gokken Beste Online Casino Nederland Games كازينو اون لاين Geriausi kazino internetu Онлайн казино Казахстан Elections 2024 Ondo Governorship Election 2024 Edo Governorship Election Presidential Gubernatorial Stallion Group logo (CREDIT: Stallion Group Facebook page)

Stallion Group wishes to reassure its customers, bankers, business partners, suppliers and other stakeholders that the Federal High Court judgment obtained by United Bank for Africa Plc (UBA) concerns Stallion Nigeria Limited and certain other companies involved in the proceedings. It does not affect the wider Group or companies that were not parties to the case. This clarification follows media reports that, in the Group’s view, have created a misleading impression about the judgment’s scope.

The disputed facility was granted to Stallion Nigeria Limited and select companies, each a separate legal entity. The relevant companies dispute the alleged indebtedness and maintain that the facility was adequately secured by assets pledged to UBA. Stallion Nigeria Limited has appealed the judgment and continues to engage constructively with the Bank, without prejudice to its legal rights and remedies.

Most Stallion Group companies were not parties to the proceedings and have no obligations arising from the judgment. Their businesses, assets and obligations remain separate and unaffected. The judgment should not be characterised as applying to Stallion Group as a whole.

No judgment was entered against Vaswani brothers Mr HareshVaswani or Mr Mahesh Vaswani. Neither was a party to the suit or the pending appeal, and neither has personal or collective liability to UBA arising from the judgment.

The companies not involved in the proceedings have continued production and trading. They remain focused on serving their customers and are positioned to meet their lawful obligations to banks, customers, suppliers and other stakeholders.

Stallion Group appreciates the continued confidence of its stakeholders. Its companies not involved in the proceedings remain focused on their businesses, while Stallion Nigeria Limited pursues its appeal and continues its engagement with UBA.

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