We Do Not Owe N13billion: We Are In Court With GTB – Stallion Nigeria


The management of Stallion Nigeria Limited has refuted recent claims and publications that it is indebted to the tune of N13billion to Guaranty Trust Bank(GTB) with a court giving order to GTB to seize its assets.

The Chief Financial Officer (CFO) Of Stallion Nigeria, Samar Sapre, has released a statement denying the existence of any N13billion debt.

Sapre in the statement said Stallion has been in court with GTB since 2019 in connection with allegations and claims. He said Stallion has been winning against GTB at the Court of Appeal, and that the matter is yet in court and to that extent remains subjudice.

Sapre implored the general public to ignore the publication and asserted that there is no existing court order anywhere empowering GTB to seize its assets as alleged.

Recall, that GTB and its receiver/manager were reported to have taken possession of the Victoria Island showroom and office of Stallion Nigeria Ltd over an alleged N13billion loan default

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