LAGOS, Nigeria — A Federal High Court in Lagos has issued an interim order restraining former Attorney-General of the Federation (AGF) and Minister of Justice, Michael Kaase Aondoakaa (SAN), and his company, Mikap Nigeria Limited, from accessing their bank accounts or dealing with their assets over an alleged N2 billion debt.
Justice Daniel Osiagor granted the order following an ex parte motion filed by Keystone Bank Limited through its counsel, Adekunle Babatunde Ogunba (SAN).
The court's decision effectively places the company’s operations under the control of a court-appointed Receiver/Manager.
The court’s directive extends beyond the former AGF to eight other co-defendants, including directors and associates of Mikap Nigeria Limited.
The interim injunction prohibits the defendants from withdrawing funds from any bank or financial institution within the court's jurisdiction, tampering with pledged assets, shares, or properties linked to the debt, and interfering with the Receiver/Manager appointed by Keystone Bank to oversee the company’s affairs.
Furthermore, Justice Osiagor ordered all Nigerian banks to disclose any outstanding sums credited to Mikap Nigeria Limited within seven days.
To ensure compliance, the court directed the Assistant Inspector General of Police (Zone 2) and the Lagos State Police Commissioner to assist the Receiver/Manager in securing the assets.
While the freeze remains in effect, a legal battle over the venue of the trial has emerged.
Counsel for the defendants, M. S. Diri (SAN), petitioned the Chief Judge of the Federal High Court to transfer the case from Lagos to Makurdi, Benue State.
In his argument before the judge, the SAN revealed that all parties reside and conduct business in Makurdi, the alleged debt originated from transactions at the bank’s Makurdi branch, and related lawsuits are already pending in Benue State courts.
But the counsel for the plaintiff, Ogunba (SAN), opposed the transfer request.
He argued that the loan facility was managed by the bank’s Lagos Head Office under a Central Bank of Nigeria (CBN) scheme.
Ogunba further asserted that the Federal High Court maintains nationwide jurisdiction, making the specific division an administrative choice rather than a legal barrier.
The court has adjourned the matter to March 5, 2026, for the hearing of the substantive suit.
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