Alleged N2.1bn ‘Debt’: Court Blocks Five Customers’ Funds In 24 Banks

A Federal High Court in Lagos has restrained Triton Aqua Africa Ltd, Bharat Ventures Ltd, Globus Resources Ltd, Seafood Products Ltd and Mr Ashvin Samtani from accessing their funds up to N2,193,610,859.47 billion in 24 banks.

Justice Oluremi Oguntoyinbo, who made the order in suit FHCLCS/354/2021, ruled that the interim order subsists pending the hearing and determination of the Motion and Notice filed by Union Bank of Nigeria Plc.

The judge also restrained them in the interim from disposing of their assets at 49 Apapa-Oshodi Expressway, Ijeshatedo, Lagos and 27, Inuwa Abdulkadir Road, Kakuri Industrial Layout, Kaduna South Local Government Area (LGA), Kaduna.

The banks, who are 6th to 28th respondents, are: Fidelity Bank, First Bank of Nigeria, First City Monument Bank, Guaranty Trust Bank, Globus Bank Ltd, Heritage Bank, Jaiz Bank Ltd, Keystone Bank Ltd, Polaris Bank Ltd, Providus Bank, Stanbic IBTC Bank Nigeria Ltd, Standard Charted Bank Nigeria Ltd, Sterling Bank, Suntrust Bank Nigeria Ltd. Titan Trust Bank Ltd, ,United Bank for Africa, Unity Bank, Wema Bank and Zenith Bank Plc.

The order followed Union Bank’s March 4, 2021 motion ex-parte filed and agued by Gbenga Akinde-Peters of Temilolu Adamolekun & Co in the alleged debt recovery suit.

The judge stopped the five defendants  in the interim “from dealing with any of the monies standing to their credit in custody or that may come to be in custody of the 6th to 28th respondents up to the tune of N2,193,610,859.47 or its equivalent in any foreign currency, pending the hearing and determination of the Motion and Notice.

She further restrained the 24 banks and Union Bank or anyone acting on their behalf from releasing to the 1st to 5th defendants any monies, funds or any other instrument belonging to them up to N2,193,610,859.47 or Its equivalent in any foreign currency, that may be or found in their custody or possession.

She further restrained in the interim Triton Aqua Africa, Bharat Ventures, Globus Resources, Seafood Products and Samtani or anyone under their authority from tempering with, their assets/properties within their premises at 49 Apapa-Oshodi Expressway, Ijeshatedo, Lagos State.

The 1st to 5th Defendants or anyone under their authority were also restrained in the interim from tempering howsoever with any of the 1st to 3rd Defendants’ assets/properties “within the premises of the property at 27, Inuwa Abdulkadir Road, Kakuri Industrial Layout, Kaduna South Local Government Area (LGA), Kaduna, particularly but not limited to all the assets/properties of the 4th Defendant, which have been charged in favour of the Plaintiff by virtue of a Deed of All Assets Debenture dated 25 May, 2011 between Seafood Products Ltd (the issuer) and the Plaintiff on the account of the 2nd Defendant.”

The 6th to 28th respondents were also directed “to disclose on oath whatever sum of money that may be in their custody belonging to the Defendants for further direction of the Honourable Court.”

The judge adjourned till April 14, 2021 for hearing of the Interlocutory Application.