Justice Nnamdi Dimgba of a Federal High Court sitting in Lagos State has restrained commercial banks in Nigeria from releasing any money or asset due to Capital Trust Investments and Asset Management Limited and its alter ego, Seyi Oke, from any account.
The judge ordered the banks to stop dealing with the defendants and their agents, privies, companies or the like up to N6,265,692,773.21, being the outstanding financial obligations owed by the investment company.
The order was sequel to an ex parte application for Mareva injunction by the plaintiffs, Emerging Africa Trustees Limited; Apel Capital and Trust Limited; FBNquest Trustees Limited, STL Trustees Limited and United Capital Trustees Limited, through their counsel, Adetunji Adedoyin-Adeniyi, who appeared on behalf of Arthur Nylander (SAN).
The counsel told the court that the plaintiffs’ application was supported with a 36-paragraph affidavit, a written address and exhibits. He said the indebtedness culminated from the Irrevocable Standing Payment Order (ISPO) issued by the Sokoto State Government and the undertaking by Access Bank Plc to make all payments directly to the plaintiffs/applicants’ designated accounts in favour of the noteholders, pending the hearing and determination of the suit.
The court, under the Mareva order, restrained the banks and the defendants from dealing with the funds in the accounts of Oke and the investment firm over the alleged debt.
In the suit marked FHC/L/CS/747/2024, the court further directed the banks to file and serve the plaintiffs’ counsel within seven days of the order on them, an affidavit disclosing the balance on the defendant’s account maintained with the banks as at the date of the order.The judge subsequently adjourned the hearing of the suit till May 24, 2024.
