A Federal High Court sitting in Ikoyi, Lagos, has restrained the directors of Retail Supermarkets Nigeria Limited from selling the company’s shares or assets pending the satisfaction of a subsisting judgment debt.

The order, which affects directors including Jide Ogundare, was made by Justice Ambrose Lewis-Allagoa following an ex parte application filed on November 21, 2025, in furtherance of a consent judgment earlier entered on July 22, 2025.

In addition to the restraining order, the court directed the directors to disclose all movable and immovable assets of the company to the judgment creditor.

The application was moved by counsel to the judgment creditor, Tobenna Nnamani, FCIArb, who also urged the court to grant garnishee orders nisi attaching funds belonging to the judgment debtor across various financial institutions.

Pursuant to the court’s directive, the judgment creditor has demanded full disclosure of the company’s assets, including its distribution centre located in Ajao, Lagos, as well as all relevant trademarks and other holdings.

The case has been adjourned to May 7, 2026, for continuation of proceedings.

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