A High Court of the Federal Capital Territory (FCT) has issued an interim order freezing bank accounts belonging to TAK Logistics Limited, TAK Agro PLC, and their director, Thomas Akoh Etuh, over a staggering sum of N24.9 billion.
The court also barred the defendants from disposing of any movable or immovable assets up to the same value, pending further judicial proceedings.
The order, granted by the court following an ex parte application filed by Senior Advocate of Nigeria (SAN), Mofesomo Tayo-Oyetibo, on behalf of Keystone Bank Limited, includes a Mareva injunction.
This injunction specifically restrains the defendants – TAK Logistics Limited (1st defendant), TAK Agro PLC (2nd defendant), and Thomas Akoh Etuh (3rd defendant) – from withdrawing, transferring, or dissipating any funds, shares, dividends, or financial instruments held in their possession.
The court's directive extends to all banks and financial institutions, compelling them to immediately comply by preserving all funds and financial instruments up to the specified amount of N24,934,741,718.91 (Twenty-Four Billion, Nine Hundred and Thirty-Four Million, Seven Hundred and Forty-One Thousand, Seven Hundred and Eighteen Naira and Ninety-One Kobo) standing to the credit of the defendants.
This includes funds associated with the 3rd defendant's Bank Verification Number (BVN) 22273745073.
Furthermore, the order mandated these financial institutions to file affidavits within seven days of service, disclosing the exact account balances and providing relevant bank statements for all accounts maintained by the defendants.
The stringent measures also prevent the defendants from transferring, selling, or otherwise dealing with any movable or immovable property up to the value of N24.9 billion.
This ensures that assets are preserved while the legal dispute unfolds.
In a procedural move, the court granted an order for substituted service on the third defendant, Thomas Etuh.
This allows court documents to be served either via courier or by posting them at his known address, ensuring due process is followed even if direct personal service proves difficult.
The interim order is set to abate seven days after service, pending further court proceedings, indicating a temporary but immediate freeze on the considerable funds and assets.
The case has been adjourned to July 22, 2025, for further hearing.
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