Stallion Nigeria has refuted reports that it is indebted to Guaranty Trust Bank (GTB) to the tune of N13 billion.
Reacting to reports that GTB took over its assets over the debt, the firm claimed that no such debt exists.
On Friday, reports said that GTB took over Stallion Nigeria’s assets after the N13 billion judgement debt in suit FHC/L/CS/2/47/2019 filed at a federal high court sitting in Lagos.
The reports claimed that officials from Temilolu Adamolekun, the receiver/manager appointed by GTBank, and court bailiffs took over the firm’s Victoria Island office and showroom containing several automobiles.
However, in a press statement signed by the firm’s CFO, Samar Sapre, Stallion Nigeria described the publications as “false, mischievous and a ploy to smear the unblemished reputation” of Stallion.
“Our attention has been drawn to an article circulating around in the media alleging that Stallion is indebted to GTB to the tune of N13 billion,” the statement…
