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| SEYI OKE |
The Federal High Court, Ikoyi, Lagos, presided over by Justice N. O. Dimgba has restrained all commercial banks in Nigeria, from releasing, further releasing or dealing in any manner whatsoever with all monies or whatsoever assets due to Capital Trust Investments & Asset Management Limited, and it’s alter Ego, Seyi Oke, from any account whatsoever they maintained.
The judge equally restrained the banks from dealing with the defendants, their agents, privies, subsidiaries, sister companies or the like with any of the said banks wherever situate up to the amount of the plaintiff/applicant’s total claim in the sum of N6,265,692,773.21 billion, being the outstanding financial obligations owed by the investment company.
Justice Dimgba took the decision while granting an exparte application for mareva injunction instituted by 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 in court on behalf of Arthur Nylander (SAN).
The indebtedness emanated from the Irrevocable Standing Payment Order (ISPO) issued by the Sokoto State Government and the undertaking issued 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.
By the Mareva order, the judge stopped all the banks and the defendants from dealing with the funds in the accounts of the investment firm and Oke, over the alleged debt.
The restrained banks are Guaranty Trust Bank Limited, Access Bank Plc, CITI Bank Nigeria Limited, Ecobank Nigeria Plc, Fidelity Bank Plc, First Bank Of Nigeria Limited, FCMB Plc, Globus Bank, Heritage Bank Limited, Jaiz Bank, Keystone Bank Limited, Opay Digital Services Limited, Palmpay Nigeria, Paystack, Piggyvest and Momo Agent.
Others are Polaris Bank Limited, Providus Bank, Stanbic/IBTC Bank Nigeria Limited, Standard Chartered Bank, Sterling Bank Plc, Suntrust Bank Limited, Union Bank Of Nigeria Plc, UBA Plc, Unity Bank Plc, Wema Bank Plc, Zenith Bank Plc and all other financial institutions operating in Nigeria.
The court also restrained the defendants in the suit designated FHC/L/CS/747/2024, namely Capital Trust Investments & Asset Management Limited and its alter Ego, Oke, its directors, agents, servants, officers, privies, subsidiaries, sister companies or any other person natural or artificial howsoever called under their control from transferring or otherwise dealing with all the monies standing to the credit in any account whatsoever maintained by them with any of the stated banks wherever situate up to the amount of the Plaintiffs’ total claim of the sum of N6,265,692,773.21 billion, being the outstanding financial obligations owed by them 1st defendant irrevocable Standing Payment Order (ISPO) issued by the Sokoto State Government and the undertaking issued 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.
Justice Dimgba further directed the above-listed banks, to file and serve on the plaintiffs/applicants counsel within seven (7) days of service of the order on them, an affidavit disclosing the balance on the defendant/applicants’ account whatsoever maintained with the banks as of the date of the order.
The investment firm and its alter ego, Oke, are restrained from selling, transferring, assigning and/or dealing with any properties of theirs that could be traced and located by the plaintiffs/applicants including landed properties at 9, Haile Sellassie Street, Asokoro, Abuja; 42, Madeira Street, Maitama, Abuja, and 14, Justice Fatai Williams Street, Asokoro, Abuja, disclosed by the 2nd defendant during the pendency of the suit.
The plaintiffs/applicants in the suit were also granted leave to serve the originating summons, affidavit in support of the Originating Summons, written address in support of the Originating Summons with accompanying Exhibits, “collectively the originating processes, the Motion on Notice for mareva injunction: and all other processes that may be issued in this suit on the second defendant, Seyi Oke, by way of substituted service; to wit: pasting on his last known address, which is 8, Sumbo Jibowu Street, Off Ribadu Road, S/W Ikoyi, Lagos.”
It would be recalled that the plaintiffs/applicants had, in the suit, through their counsel, informed the court that the application was supported with a 36-paragraph affidavit, a written address and several exhibits.
While granting the orders sought, Justice Dimgba held that: “Upon reading through the said Motion, it's Supporting Affidavit of Thirty-Six (36) Paragraphs deposed to by Damilola Olugbemi, Male, Christian, Adult, Nigeria Citizen of 25A Bourdillon Road, Ikoyi, Lagos attached Exhibits Marked A-G and a Written Address signed by Ikeazo Igbokwe, the counsel for the plaintiffs/applicant all filed at the Federal High Court Registry Ikoyi, Lagos on the 30 day of April 2024.
“After hearing A. Adedoyin-Adeniyi with I. Igbokwe, C. J. Stephen and R. Amachunam for the plaintiffs/applicants moved in terms of the Motion paper.
“And in the light of the supporting documents to the application for mareva orders, I have quickly reviewed and further interrogated counsel in open court as to the propriety of granting the orders sought, I have come to the view that the application deserves and accordingly granted as prayed.”
Justice Dimgba adjourned further hearing of the substantive suit until May 24, 2024.
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