UBA seeks jail for WEMPCO directors over N61bn loan recovery defiance

UBA is intensifying recovery of a N61bn loan by seeking contempt proceedings against WEMPCO directors, alleging they disobeyed court orders and used thugs to evict a court-appointed receiver from the steel group's Ogun State factory. The claim of thug use is unverified, but the legal escalation marks a significant step in a high-value Nigerian corporate debt dispute. This matters as it signals heightened legal risk for Nigerian corporates in debt enforcement and could affect creditor confidence.

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