UBA faces legal battle as creditors attach Lagos HQs, FCT branches to recover N7.45bn judgement debt

*Oliver Alawuba, Managing Director and CEO of United Bank for Africa Plc, and other Senior Executives of the commercial bank are facing possible jail over alleged unpaid N7.448 billion judgement debt, just as judgement creditors have reportedly filed applications to attach the UBA Headquarters, in Lagos, and branches of the commercial bank, in Abuja, to cover the judgement debt

Isola Moses | ConsumerConnect

United Bank for Africa (UBA) Plc, Africa’s Global Bank, is facing increasing  legal pressure over its alleged failure to comply with a recent court order directing it to pay N7.448 billion debt in a judgment dispute.

In the legal dispute, which involves the Mauritz Walton Nigeria Limited and the Benue State Government, in the Middle Belt Nigeria, the judgement creditors are reportedly pursuing contempt proceedings against Mr. Oliver Alawuba, Managing  Managing Director and Chief Executive Officer (CEO) of UBA Plc, as well as other top Management executives of the banking group.

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ConsumerConnect reports the fresh legal dispute focuses on an earlier Garnishee Order Absolute issued by the High Court of the Federal Capital Territory (FCT), Abuja Judicial Division, December 4, 2025, directing UBA Plc to pay N7,448,113,025.42 to Bizplus Consulting Services Limited and Mauritz Walton Limited through their solicitors within 24 hours of being served with the order.

According to a copy of the court order, Justice Bello Kawu made absolute the Garnishee Order Nisi issued against UBA November 18, 2025.

The leading commercial bank also was listed as the 17th garnishee in the court proceedings.

The court also discharged the 20 remaining garnishees from the proceedings, leaving UBA as the garnishee against which the payment directive was issued, report stated.

It was also gathered that the judgement creditors had instituted the garnishee proceedings against the Benue State Government and the state’s Attorney-General, seeking to recover the judgement debt from funds belonging to the state government and held by financial institutions.

The legal dispute later escalated into enforcement actions around some branches of UBA Plc in the FCT, according to report.

Enforcement of Garnishee Order Nisi against UBA

An employee of one of UBA’s branches in Abuja, who preferred anonymity, confirmed that armed policemen had visited the branch, and warned that they would return during the week.

It was also gathered that UBA branches, in Abuja, reportedly shut, following enforcement action linked to a ₦7.448 billion judgment debt involving the Benue State Government.

The bank employee also said the development had created fear among workers, who were apprehensive about the possible implications of the enforcement proceedings for the bank’s operations in this regard, report said.

The staff member of UBA also disclosed that employees are becoming increasingly concerned about using the bank’s bullion vans to transport cash, amid fears that the vehicles could be seized during the enforcement exercise of the Garnishee Order Nisi awarded against the financial institution.

On Benue Government’s  appeals against substantive judgement

Justice Kawu, in his ruling had said that the appeals filed by the Benue State Government against the substantive judgement did not automatically halt the garnishee proceedings.

The Judge rather emphasised that garnishee proceedings are directed at a third party holding funds belonging to a judgement debtor, and an appeal against the original judgment does not, by itself, prevent the enforcement process from continuing.

The court as well identified Account Number 100722383870 as the Benue State Government FAAC/Treasury Single Account (TSA) domiciled with UBA.

It stated that the account had a balance of N2,093,222,436.25 as of November 18, 2025, when the court served the Garnishee Order Nisi on the bank.

The court also noted that subsequent Federal Account Allocation Committee (FAAC) allocations had been paid into the account.

It further observed that the funds, including subsequent accruals, were covered by the order to the extent required to satisfy the judgement debt.

Besides, the court relied, among other authorities, on the Court of Appeal decision in Dangote Cement Plc v. Ekeson Salins Oil & Gas Ltd & Ors (2024) LPELR-62744(CA).

However, the court document does not independently establish whether UBA Plc subsequently, effected the payment, whether the order was stayed or overturned, or whether the judgement debt has been fully settled.

Judgement creditors attach UBA Headquarters, FCT branches to enforce court order

Meanwhile, Mauritz Walton Limited has alleged that UBA Plc failed to comply with the court judgement debt payment directive.

The company said it consequently, activated contempt proceedings against the top Management executives of UBA Plc, according to report.

In a way to pile further legal pressure on the bank, the judgement creditors also reportedly, have filed applications seeking the attachment of the UBA Headquarters, at Marina, in Lagos, and other branches, in Abuja, as part of efforts at enforce the judgement against the financial services group.

Likewise, Maurice Ibe, Group Executive Chairman and CEO of Mauritz Walton Limited, was quoted to have said the company has remained committed to the country’s judicial process despite what he described as “provocations and intimidation” by UBA and the Benue State Government respectively.

Ibe said the company had instructed its legal team to pursue all available enforcement measures, including proceedings aimed at securing the committal of responsible bank executives.

He also disclosed that Mauritz Walton had briefed its lawyers in the United Kingdom (UK) and the United States (US) to explore legal options for attaching UBA’s assets and properties in both countries.

Implications of non-compliance with court orders on investor confidence in Nigeria

The Group Executive Chairman and CEO of the company further disclosed plans to report UBA’s alleged conduct to relevant regulatory authorities.

Ibe as well accused UBA of frustrating the enforcement of an earlier judgement, involving $30 million and N20 billion that his company had obtained December 2021 against the Ebonyi State Government, in South-East Nigeria.

The company’s Chief Executive also alleged that the commercial bank collaborated with the Ebonyi State Government to frustrate the earlier judgement.

Ibe reportedly interrogated  the implications of UBA’s purported non-compliance with court orders.

He contended that such conduct could undermine foreign investors’ confidence in Nigeria’s business environment and judicial system, report noted.

The Group Executive Chairman and CEO, nonetheless, has insisted that Mauritz Walton Limited will pursue the legal dispute to a logical conclusion until the judgement debt is recovered from the bank.