UBA Seeks Jail for Nine Over WEMPCO Court Order Violation

United Bank for Africa (UBA) Plc (NGX: UBA) has filed a motion in the Federal High Court in Lagos seeking the imprisonment of nine individuals associated with Western Metal Products Company (WEMPCO) for allegedly violating a court order related to a disputed debt of N61.45 billion. The contempt proceedings, initiated against the individuals, accuse them of forcibly removing a court-appointed receiver-manager, Romeo Ese Michael, from WEMPCO's steel factory in Ogun State.

This action is said to be in defiance of a court order dated April 2, 2026, which froze WEMPCO's funds and appointed Michael as receiver-manager over specific assets. UBA claims the respondents engaged in "wilful, deliberate and orchestrated disobedience" of the court's directive, continuing to operate the business and divert funds despite the order.

The court had previously directed the preservation of funds amounting to N61,445,695,993.76 across 27 banks and financial platforms. The respondents have not yet responded to the application.