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Stallion reacts as UBA takes over assets after court order

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Stallion reacts as UBA takes over assets after court order

 

The United Bank for Africa (UBA) Plc has taken over the assets of Stallion Nigeria Limited and its subsidiaries in three cities: Lagos, Port Harcourt and Kano.

This came after a Federal High Court in Lagos had granted the bank an order to do so.

But Stallion faulted the action of the bank, adding that an appeal was being perfected and assured its customers that there was nothing to worry about.

The receiver-manager of the bank, Romeo Michael, court bailiffs and the police reportedly executed the court order.

Although Justice Akintayo Aluko gave the order on October 20, 2023, it was only executed last Friday November 10.

The case was adjourned till November 20 for hearing of the motion on notice.

The affected assets include mortgaged property known as “all that piece or parcel of land together with any building thereon” at Plot 371, Trans Amadi Industrial Layout, Port Harcourt, Rivers State.

“Plot 353, Trans Amadi Industrial Layout, Port Harcourt, Rivers State, Plot 370, Trans Amadi Industrial Layout, Port Harcourt, Rivers State, Kilometre 17, Lagos Badagry Expressway, Lagos State and No. 54, Challawa Industrial Estate, Kano State, Nigeria.”

The order also affects the defendants’ sums, totalling N156bn in commercial, microfinance and other financial institutions across the federation.

The 1st to 4th plaintiff/applicants in the suit are UBA Plc, UBA Cameroon SA, Cote D’Ivoire SA and Romeo Ese Michael.

The 1st to 11th defendants/respondents are Stallion Nigeria Limited (In Receivership), Von Automobile Nigeria Limited, Popular Farms And Mills Limited, Havana Nigeria Limited.

The other defendants are KRBL Food Industries Limited, Qingqi Motorcycle Manufacturing Limited, Stallion Auto Keke Limited, Stallion Motors Limited, The Honda Place Limited, Yokohama Construction Limited and Mr. Sunil Vaswani.

The order also barred the Federal Ministry of Defence and Federal Ministry of Finance from releasing to the defendants or any of their affiliates any fund belonging or accruing to any of the defendants.

Stallion reacts

In a statement issued on Monday, Alhaji Tajudeen Olalere, Executive Director Stallion Group, said the issue was a normal one between the conglomerate and the bank.

The statement read, “Our attention has been drawn to certain publications in the media regarding our commercial relationship with the United Bank of Africa (UBA PLC) and an alleged lawsuit filed by UBA PLC against our Group. “Although the reports thoroughly misrepresent the state of affairs, we are not unmindful of the fact that such reports are misleading. As such, I Alhaji Tajudeen Olalere, Executive Director Stallion Group, would like to clarify as follows:

“The Bank failed to serve our Group or any of our entities with the Motion on Notice and the Originating Processes at any time prior to the hearing of the Motion on Notice upon which the interim order was predicated and we were only assailed with sponsored publications in the media.

“Our lawyers are already taking steps to deal with the issues arising from the ex parte interim orders of the Federal High Court.

“In terms of our commercial relationship with UBA PLC, we have maintained a mutually beneficial banking relationship with UBA PLC spanning over three decades.

“While UBA PLC have, during the course of the relationship availed us credit facilities for our operations, we have consistently repaid and serviced the facilities to the utmost satisfaction of UBA PLC.

“For the comfort of our stakeholders and without prejudice to the pending suit, our records confirm that in the last 10 years, we have made lodgements with UBA PLC to the tune of over half a trillion naira which, more than suffices in repaying every facility availed to us by the Bank.

“However, as a devoted customer of the Bank, we have been in active engagements with the Bank in resolving all claims of outstanding indebtedness.

“UBA debited our account with excess Principal amounting to N10,324,418,431 (Ten Billion, Three Hundred and Twenty Four Million, Four Hundred and Eighteen Thousand, Four Hundred and Thirty-One Naira) and interest on of N2,883,976,214 (Two Billion, Eight Hundred and Eighty Three Million, Nine Hundred and Seventy Six Thousand, Two Hundred and Fourteen Naira) based on the interpretation of the offer letter referred to above.

“This excess debit resulted in additional interest being charged to our account to the tune of N14,774,257,090 of (Fourteen Billion, Seven Hundred and Seventy Four Million, Two Hundred and Fifty Seven Thousand, Ninety Naira) and consequently the bank ended up charging N27,982,651735 in excess of what should have been charged as per the terms of the offer letter.

“UBA charged unauthorized interests, management fees, COT-VAT, Fees, Finance Charges and LC Charges contrary to the agreement of the parties and applicable Central Bank of Nigeria guidelines and approved rate of charges.

“As at 18 September 2023, we were assured by the Bank through our designated Relationship Manager in the Bank that our request for account reconciliation and restructuring.

“More recently, on 11 October 2023, we received another written communication from the Bank confirming the ongoing engagements at resolving all claims of indebtedness.

“It therefore came as a rude shock to our Group to learn that UBA PLC surreptitiously filed an application in the Court on 17 October 2023 (6 days after their latest response to our communication) which culminated in the interim orders issued by the Federal High Court on 20 October 2023.

“It is even more shocking that UBA PLC will proceed in the manner it did when it has, as security for its commercial engagements with our Group, our assets worth about N130 Billion and payment instructions amounting to about N24 billion against monies due to us, which in all material particulars, far exceed whatever claims it may consider to have against any member of our Group.

“As earlier stated, our team of lawyers are giving due attention to the interim court orders and we are optimistic of a timely resolution of all issues.

“While we remain, as always, committed customers of UBA PLC, we are already exploring necessary avenues of resolution including the deployment of legal measures to rectify what we presently consider as a legal wrong done to us by UBA PLC in the manner it has proceeded against us.
“We assure all our Bankers, Customers, Suppliers, OEMs, Vendors and the General Public that there is no cause for panic.

“We remain a formidable and united Group with expansive business, commercial and production activities across many spheres of the Nigerian economy.

“All our businesses units, companies and entities within the Stallion Group remain viable going concerns.
“We remain strategic partners to the Federal Government of Nigeria, State Governments and several other government institutions with whom we have maintained solid and unblemished partnership over the years.

“The negative publications arising from what we consider an unwarranted and wrongful move on the part of UBA PLC do not and cannot distract us from our operations and we assure everyone that we will continue to live up to our contractual commitments and undertakings.”

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Nigeria’s Auto Dealers Face New Challenge as After-Sales Service Takes Centre Stage

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Nigeria’s Auto Dealers Face New Challenge as After-Sales Service Takes Centre Stage

Nigeria’s Auto Dealers Face New Challenge as After-Sales Service Takes Centre Stage

Nigeria’s automotive industry may need to rethink the way it competes for customers, with industry stakeholders urged to place greater emphasis on after-sales service, warranty protection and customer satisfaction rather than focusing largely on vehicle prices, designs and technology.

As competition intensifies and new vehicle brands enter the Nigerian market, the ability of distributors and dealers to provide reliable support long after a vehicle has been purchased could become a major factor in determining customer loyalty and market leadership.

For many vehicle owners, the real test of a brand does not end at the showroom. It begins when the vehicle requires routine servicing, develops a fault, needs replacement parts or requires warranty attention.

The quality of the response at such moments can determine whether a customer remains loyal to a brand or begins looking elsewhere.

Against this background, the industry is being challenged to embrace a new form of competition centred on dependable, transparent and accessible after-sales support.

Traditionally, automotive competition has revolved around pricing, vehicle performance, design, technological innovations, fuel efficiency and the introduction of new models. While these factors remain important, they do not necessarily guarantee a satisfactory ownership experience.

For Nigerian motorists, the availability of genuine spare parts, qualified technicians, affordable maintenance, prompt repairs and effective warranty administration can be just as important as the vehicle’s initial purchase price.

This is particularly significant in Nigeria, where vehicles play critical roles in household mobility and business operations. A private car may be indispensable for commuting, school runs and medical appointments, while commercial vehicles are essential to deliveries, logistics and other economic activities.

Consequently, prolonged vehicle downtime arising from poor maintenance support or delays in obtaining replacement parts can impose significant financial and operational costs on owners.

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Beyond selling vehicles

The growing emphasis on after-sales service reflects a broader understanding that selling a vehicle should mark the beginning, rather than the end, of a relationship between an automotive company and its customer.

When customers receive clear information, timely repairs and reliable technical support, they are more likely to develop confidence in the brand and return for future purchases.

Conversely, poorly explained warranty conditions, inadequate service facilities, delays in repairs and difficulties accessing genuine parts can undermine customer confidence, regardless of how attractive or technologically advanced a vehicle may be.

The industry is therefore being encouraged to compete through stronger technical capacity, effective spare parts management, transparent warranty arrangements, efficient communication and credible repair processes.

Some automotive distributors are already introducing structured programmes designed to strengthen their ownership support propositions.

One example is Carloha’s CarlohaCare 6-6-7 programme, which combines a six-year warranty, six years of free servicing and a seven-day repair promise, subject to applicable terms and conditions.

The company has also introduced CarlohaCare Rescue, extending its customer support proposition through roadside assistance under specified service arrangements.

Such initiatives provide examples of how automotive companies can package after-sales services into identifiable commitments that customers can evaluate before making purchasing decisions.

However, the emergence of such programmes should also encourage healthy competition, independent scrutiny and comparisons across the industry.

Other distributors, including established automotive companies and emerging vehicle brands, should equally be encouraged to strengthen their service networks, improve spare parts availability and introduce more effective customer complaint-resolution mechanisms.

Ultimately, customers stand to benefit when companies compete to deliver better ownership experiences rather than relying exclusively on aggressive sales campaigns.

The need for accountability

However, industry observers caution that attractive after-sales promises must be backed by operational capacity and measurable results.

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A warranty programme, for instance, is only as valuable as the company’s willingness and ability to honour its obligations when customers encounter problems.

Automotive distributors should therefore provide clear written explanations of warranty coverage, exclusions, servicing schedules and the conditions attached to special customer support programmes.

Their performance should also be assessed using measurable indicators, including repair turnaround time, spare parts availability, technical competence, customer complaint resolution and the effectiveness of warranty administration.

Customers should have accessible channels through which they can report complaints, obtain updates on repairs and seek clarification when service commitments are not met.

The media also has an important role to play in promoting accountability and raising the standard of industry conversations.

The Nigeria Auto Journalists Association (NAJA), for instance, can contribute through independent editorial coverage, industry analysis, interviews and platforms that bring automotive companies and consumers together to examine the quality of vehicle ownership in Nigeria.

Its responsibility should be to encourage informed public debate, investigate industry claims and highlight measurable improvements in customer service, rather than endorse promotional claims that have not been independently established.

Buyers must ask the right questions

Beyond the responsibilities of distributors, consumers also have a role in changing the dynamics of competition in the automotive market.

For too long, vehicle purchase decisions have often been influenced primarily by acquisition costs, appearance, brand reputation and technical specifications.

While these considerations remain legitimate, prospective buyers need to pay greater attention to what happens after they drive their vehicles out of the showroom.

Questions about warranty coverage, servicing costs, the availability of genuine replacement parts, roadside assistance and access to authorised service centres should form part of every serious vehicle purchase decision.

Corporate organisations and fleet operators should go further by incorporating after-sales capacity, maintenance costs and expected vehicle downtime into their procurement decisions.

Such an approach would compel automotive distributors to recognise that customers are not simply purchasing vehicles; they are investing in years of mobility, convenience and operational reliability.

A new measure of industry leadership

As Nigeria’s automotive market evolves, the companies best positioned to earn lasting customer loyalty may not necessarily be those selling the cheapest vehicles or introducing the most models.

Increasingly, the decisive advantage could lie with distributors that demonstrate a consistent ability to support customers throughout the ownership journey.

The industry must therefore move beyond measuring success primarily through sales volumes, market share and showroom performance.

It must also pay attention to customer satisfaction, service delivery, warranty compliance and the ability to minimise vehicle downtime.

The ultimate objective should not simply be to sell more vehicles, but to give buyers confidence that their investments will receive the technical attention, maintenance support and customer care required throughout their useful lives.

For Nigeria’s automotive industry, the next big competition may not be about who sells the most attractive vehicle or offers the lowest price.

It may ultimately be about who takes better care of the customer after the sale.

 

Nigeria’s Auto Dealers Face New Challenge as After-Sales Service Takes Centre Stage

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NCC Deploys Device Checker App to Tackle Fake, Cloned Phones in Nigeria

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NCC Deploys Device Checker App to Tackle Fake, Cloned Phones in Nigeria
NCC Deploys Device Checker App to Tackle Fake, Cloned Phones in Nigeria

The Nigerian Communications Commission (NCC) has deployed a new device-checking application to strengthen efforts to eliminate counterfeit, cloned and unauthorised mobile phones from Nigeria’s telecommunications market.

The application, designed to help authorised industry stakeholders verify mobile devices, allows users to scan International Mobile Equipment Identity (IMEI) numbers and upload device information directly to the commission’s Device Checker Platform.

The NCC Lagos Zonal Controller, Tunji Jimoh, disclosed this on Thursday during a media briefing at the commission’s zonal office in Lagos.

Jimoh, who represented the Executive Vice-Chairman of the NCC, Aminu Maida, said the initiative was part of efforts to ensure that devices connected to Nigerian telecommunications networks comply with established technical and regulatory standards.

According to him, the platform supports the verification of the Type Approval status of SIM-enabled devices and will help address the circulation of counterfeit, cloned and unauthorised equipment in the country.

Jimoh explained that the application would make it easier for authorised stakeholders, including importers, distributors and phone dealers, to verify large volumes of devices and identify irregularities in their identification numbers.

He said the commission had also intensified engagements with industry players to improve compliance with its device verification and licensing requirements.

The NCC official disclosed that the commission had streamlined its licensing and regularisation process, enabling several device dealers in Kano State to obtain the necessary licences.

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He added that the commission had conducted sensitisation programmes for importers and other industry participants in Lagos and other parts of the country to educate them on their responsibilities under the Device Checker framework.

Jimoh said the measures were designed to strengthen accountability across the mobile device supply chain, improve regulatory compliance and protect consumers from substandard products.

Addressing concerns about privacy, the NCC representative stressed that the Device Checker Platform was not designed to monitor mobile phone users or access their personal information.

He explained that the system does not access private messages, photographs, contacts, financial information or other personal content stored on mobile devices.

According to him, the platform’s functions are limited to device identification and verification of compliance with regulatory requirements.

The commission also urged manufacturers, importers, distributors and dealers to familiarise themselves with its Type Approval and Device Verification guidelines.

Meanwhile, the NCC has encouraged consumers to check the approval status of mobile phones before purchasing them, particularly second-hand devices, to avoid buying counterfeit or non-compliant products.

Consumers can access the commission’s *Device Checker service by dialling 315# or visiting its official website at https://www.ncc.gov.ng/DeviceChecker.

To verify a device, users may need its 15-digit IMEI number, which can be retrieved by dialling *#06# on the phone.

The commission explained that the IMEI is a unique identification number assigned to mobile devices and helps distinguish one device from another. Some phones, particularly dual-SIM models, have more than one IMEI.

The NCC has also clarified that the enhanced device verification framework, which took effect on October 7, 2026, does not require existing phone users to register their devices again. Devices already connected to Nigerian networks before the implementation date were automatically verified.

New devices brought into Nigeria by importers, however, must undergo the applicable verification process before accessing local telecommunications networks.

The commission said the framework covers SIM-enabled devices, including smartphones, feature phones, tablets, routers, laptops and Point-of-Sale terminals.

It further advised consumers to patronise reputable and licensed dealers and use only official NCC channels for device verification.

The initiative forms part of the commission’s broader efforts to combat phone theft, device cloning, counterfeiting and the circulation of unauthorised telecommunications equipment in Nigeria.

NCC Deploys Device Checker App to Tackle Fake, Cloned Phones in Nigeria

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Nigeria Loses ₦3.6tn to Logistics Inefficiencies as NRC Pushes Integrated Transport System

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Nigeria Loses ₦3.6tn to Logistics Inefficiencies as NRC Pushes Integrated Transport System

 

The Nigerian Railway Corporation has unveiled an ambitious plan to expand Nigeria’s railway network from approximately 4,000 kilometres to 10,000 kilometres within five years.

This is coming as it pushes for an integrated transportation and logistics system to reduce business costs, boost trade and strengthen the nation’s economic competitiveness.

The NRC also has a long-term target of extending the rail network to about 20,000 kilometres, with plans to optimise existing railway assets, revive dormant corridors, expand freight operations and attract private investment into passenger and cargo services.

Managing Director of the corporation, Dr Kayode Opeifa, disclosed these plans at the BusinessDay Mobility and Logistics Conference in Lagos, where he identified an efficient, interconnected transport system as a critical driver of economic resilience and productivity.

Speaking on the theme, “Scaling the Future: Building a Resilient and Efficient Mobility and Logistics Ecosystem in Nigeria,” Opeifa warned that inefficiencies across the country’s transportation network were contributing to congestion, rising logistics costs, delayed deliveries, reduced productivity and higher prices of goods and services.

He argued that integrating rail, road, maritime and air transportation would help address these challenges by improving connectivity between production centres, markets, seaports and distribution hubs.

According to him, rail transportation occupies a strategic position in developing an efficient national transport network because of its capacity to move large volumes of passengers and freight over long distances while reducing pressure on highways.

“Rail should not be viewed as a competitor to road, maritime or air transportation, but each should continue to develop as complementary components of an effective integrated transport system,” he said.

Opeifa explained that while road transport remained essential for cargo collection and last-mile delivery, maritime transport facilitated international trade, and inland terminals supported cargo handling and distribution, rail provided the high-capacity link connecting these facilities with industrial and commercial centres.

He said seamless coordination among the different modes would reduce avoidable logistics costs, promote regional commerce, improve access to markets and enhance the competitiveness of Nigerian products.

PRIVATE SECTOR PARTICIPATION

Outlining the NRC’s priorities since assuming office, the managing director highlighted the corporation’s track access policy, which provides opportunities for private investors to operate passenger and freight services along designated railway corridors.

He said the policy was part of efforts to improve the utilisation of existing infrastructure, expand railway services and mobilise investment to accelerate the development of the sector.

Under its Vision 2:5:10:20, the corporation is focusing on optimising existing railway assets, restoring viable dormant corridors, expanding freight operations, strengthening private-sector partnerships and progressively extending the national network.

Opeifa said immediate priorities included improving the utilisation of Nigeria’s two legacy narrow-gauge lines and three standard-gauge lines, restoring operational capacity, expanding freight services and strengthening connections between railway infrastructure, ports and inland terminals.

He maintained that maximising the value of existing assets would be essential to achieving the corporation’s expansion targets and building a more commercially viable railway system.

NEW RAILWAY PROJECTS

The NRC chief also highlighted ongoing and planned railway infrastructure projects under President Bola Ahmed Tinubu’s administration, including efforts to extend the standard-gauge railway to Apapa Port and establish a connection to Tin Can Island Port in Lagos.

The proposed connections are expected to strengthen the relationship between rail and maritime transportation, improve cargo evacuation and reduce the pressure on roads leading to the ports.

Opeifa further said the Kano–Maradi railway line was expected to be completed in 2027, while plans were ongoing for a central railway corridor linking the Warri–Itakpe line to Abuja.

He added that the government planned to commence construction of the Marina–Lekki railway line, alongside efforts to support the Kaduna–Kano inter-state train service and the Kano State Government’s proposed intra-state rail services.

The projects, he said, formed part of broader efforts to expand rail connectivity, improve passenger mobility and facilitate the movement of goods across the country.

₦3.6TRN LOGISTICS LOSSES

Also speaking at the conference, the Director-General of the Africa Centre for Supply Chain, Dr Obiora Madu, estimated that Nigeria loses more than ₦3.6 trillion to inefficiencies and distortions in the transportation and logistics sector.

He warned that small-scale businesses would continue to struggle to operate efficiently unless the country addressed the disconnect among its transport and logistics networks.

“If we don’t get the logistics right, the small-scale businesses would not be optimised. We do not need digital islands, we do not need superlative infrastructure, what we need is connected systems,” Madu said.

He argued that building a resilient logistics ecosystem required more than expanding individual infrastructure projects, stressing the importance of coordination, connectivity and the ability of the entire system to withstand disruptions.

Similarly, the Managing Director of JanksMay Global Services Ltd., Ifeanyi Onwuachu, said infrastructure deficits continued to undermine the operations of small-scale players in the logistics industry.

He called attention to the need for better infrastructure and more efficient transport connections to support businesses and improve operational performance.

Earlier, the Deputy Editor-in-Chief of BusinessDay, Dr Innocent Nna, described the conference as a platform for examining persistent gaps in Nigeria’s logistics sector and identifying practical solutions.

He urged stakeholders to engage in frank discussions on the challenges confronting the industry and develop strategies to improve efficiency across the sector.

The conference brought together industry stakeholders to explore ways of building an integrated, efficient and resilient mobility and logistics ecosystem capable of supporting economic growth and improving the competitiveness of Nigerian businesses.

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