General News
₦7.4bn Judgment Storm: UBA Executives Face Jail As Enforcement Targets Abuja Branches
The Managing Director and Chief Executive Officer of United Bank for Africa, UBA, Oliver Alawuba, and other senior executives of the bank may face committal to prison as Mauritz Walton Nigeria Limited steps up legal moves to enforce a ₦7.44 billion judgment against the Benue State Government.
The enforcement battle has reportedly created anxiety across some UBA branches in Abuja, following claims that police officers had begun visiting bank premises ahead of possible further action.
A staff member at one of the affected branches, who spoke on condition of anonymity, said armed policemen recently visited the facility and indicated that they could return during the week.
The development, the source said, had unsettled employees, with fears mounting over possible attachment of the bank’s assets and properties in the course of the enforcement proceedings.
Some staff members were also said to be apprehensive about using the bank’s bullion vans for cash movements amid concerns that the vehicles could become subject to enforcement action.
The dispute arose from a judgment debt of ₦7,448,113,025.42 obtained by Mauritz Walton Nigeria Limited against the Benue State Government.
In an earlier ruling, the High Court of the Federal Capital Territory, presided over by Justice Bello Kawu, made a Garnishee Order Nisi absolute against UBA and directed the bank to pay the judgment sum to the judgment creditors through their solicitors within 24 hours of service of the order.
The court discharged 20 other garnishees from the proceedings, leaving UBA as the institution against which the payment directive was made.
Justice Kawu also rejected the contention that appeals filed by the Benue State Government against the substantive judgment should automatically bring the garnishee proceedings to a halt.
The court held that a pending appeal, without more, could not stop the enforcement process.
In the ruling, the court identified account number 100722383870 as the Benue State Government FAAC/Treasury Single Account maintained with UBA.
The account, according to the court, had a balance of ₦2.09 billion as of November 18, 2025, when the Garnishee Order Nisi was served on the bank.
The court further held that subsequent Federation Account Allocation Committee, FAAC, inflows into the account could be covered by the order to the extent necessary to satisfy the judgment debt.
However, the court documents available do not establish whether UBA subsequently paid the judgment sum, whether the order was stayed or overturned, or whether the debt has been fully settled.
Mauritz Walton has alleged that the bank failed to comply with the payment directive and has consequently commenced contempt proceedings against its senior executives.
The company is also reportedly pursuing applications for the attachment of UBA’s headquarters and other branches in Abuja as part of efforts to recover the judgment debt.
Speaking on the dispute, the Group Executive Chairman and Chief Executive Officer of Mauritz Walton Nigeria Limited, Dr Maurice Ibe, said the company had exhausted its patience after years of seeking to enforce judgments through the courts.
He said the company’s lawyers had been directed to pursue the committal of officials considered responsible for the alleged non-compliance and explore every lawful means of recovering the money.
Ibe also disclosed that legal representatives had been engaged in the United Kingdom and the United States to examine possible actions involving UBA’s assets and properties in those jurisdictions.
The businessman further alleged that UBA had frustrated the enforcement of an earlier judgment obtained by Mauritz Walton against the Ebonyi State Government. That allegation has not been independently established.
He maintained that the company would continue to pursue all available legal remedies until the judgment debt was recovered.
The latest development has again placed the spotlight on the enforcement of court judgments and the legal obligations of banks involved in garnishee proceedings.
UBA’s response to the allegations, the reported police visits and claims of non-compliance with the court order was not available at the time of filing this report.
