₦7.4bn Judgment Debt: Mauritz Walton Seeks Committal of UBA Executives

Mauritz Walton Nigeria Limited has commenced fresh legal moves to enforce a ₦7.44 billion judgment debt against United Bank for Africa (UBA), seeking the committal of the bank’s Managing Director, Oliver Alawuba, and other senior executives over alleged failure to comply with a court payment order.

The enforcement dispute has reportedly extended to some UBA branches in Abuja, where the presence of armed policemen has heightened concerns among employees over possible seizure of the bank’s assets and disruption of operations.

A staff member of one of the affected branches, who spoke on condition of anonymity, confirmed that armed policemen had visited the premises and warned that they would return during the week.

The employee said the development had created anxiety among workers, particularly over fears that bullion vans used for cash transportation could also be seized during the enforcement exercise.

The dispute stems from a judgment debt of ₦7,448,113,025.42 obtained by Mauritz Walton Limited against the Benue State Government and subsequent garnishee proceedings involving funds held by UBA on behalf of the state government.

In a ruling delivered by Justice Bello Kawu of the High Court of the Federal Capital Territory, the court made an earlier Garnishee Order Nisi absolute against UBA, directing the bank to pay the judgment sum to the creditors through their solicitors’ chambers within 24 hours of service of the order.

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

Justice Kawu further ruled that the appeals filed by the Benue State Government against the substantive judgment did not automatically suspend the garnishee proceedings, explaining that an appeal against the original judgment does not, by itself, prevent enforcement against a third party holding funds belonging to the judgment debtor.

The court identified account number 100722383870 as the Benue State Government’s FAAC/Treasury Single Account domiciled with UBA.

According to the ruling, the account had a balance of ₦2,093,222,436.25 as of November 18, 2025, when the Garnishee Order Nisi was served on the bank.

It further noted that subsequent Federation Account Allocation Committee (FAAC) allocations were paid into the account, adding that the funds, including subsequent accruals, were covered by the order to the extent necessary to satisfy the judgment debt.

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 available court document does not establish whether UBA subsequently made the payment, whether the order was stayed or overturned, or whether the judgment debt has been fully settled.

Speaking on the development, Group Executive Chairman and Chief Executive Officer of Mauritz Walton Limited, Dr Maurice Ibe, said the company had instructed its lawyers to pursue all available legal enforcement measures, including proceedings seeking the committal of responsible UBA executives.

Ibe said the company remained committed to pursuing the judicial process despite what he described as provocations and intimidation by UBA and the Benue State Government.

He also disclosed that the judgment creditors had filed applications seeking the attachment of UBA’s headquarters and other branches in Abuja as part of efforts to recover the judgment sum.

According to him, the company had briefed its legal representatives in the United Kingdom and the United States to explore possible legal options for attaching UBA’s assets and properties in the two countries.

Ibe added that Mauritz Walton intended to report the bank’s alleged conduct to relevant regulatory authorities.

He also accused UBA of frustrating the enforcement of an earlier judgment obtained by his company in December 2021 against the Ebonyi State Government, involving $30 million and ₦20 billion. The allegation could not be independently verified.

The businessman questioned the implications of financial institutions allegedly failing to comply with court orders, warning that such developments could affect foreign investors’ confidence in Nigeria’s business environment and judicial system.

He maintained that the company would continue to pursue the matter until the judgment debt was recovered.

The unfolding dispute has brought renewed attention to the obligations of financial institutions acting as garnishees, the enforcement of judgment debts and the legal consequences of non-compliance with court directives.

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Meanwhile, the reported police visits to some UBA branches in Abuja have heightened apprehension among employees, particularly over the possibility of further enforcement actions.

UBA’s response to the allegations, the reported police visits and the claimed failure to comply with the court order was not available at the time of filing this report.