N6.2bn Debt: Court Freezes Accounts, Assets Of Capital Trust Investment, Alter Ego, Seyi Oke
A Lagos
Federal High Court has restrained all commercial banks in Nigeria, from
releasing, further releasing, or dealing in any manner whatsoever with any and
all monies or whatsoever assets due to Capital Trust Investments & Asset
Management Limited and its alter Ego, Seyi Oke, from any account whatsoever
they maintained.
The court,
also restrained the banks from dealing with the defendants, their agents,
privies, subsidiaries, sister companies, or the like with any of the said Banks
wherever situated 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.
This
indebtedness culminated 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.
The Court under the Mareva order, stopped the all the banks and the defendants from
dealing with the funds in the accounts of the investment firm and Seyi Oke, over
the alleged debt.
The banks
restrained by the order of the court 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.
Also, the
defendants in the suit marked FHC/L/CS/747/2024, Capital Trust Investments
& Asset Management Limited and its alter Ego, Seyi Oke, its directors,
agents servants, officers, privies subsidiaries, sister companies or any other
person natural or artificial howsoever called under their control, are
restrained from transferring or otherwise dealing with any and all of the
monies standing to the credit of their 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/Applicant’s designated accounts in favour of the noteholders,
pending the hearing and determination of the suit.
The court
further directed the above-listed banks, to file and serve on the
Plaintiffs/Applicant’s Counsel within seven (7) days of service of the order on
them, an affidavit disclosing the balance on the Defendant/Applicant’s account
whatsoever maintained with the Banks as at the date of the Order.
The
investment firm and its alter ego, Seyi Oke, are restrained by the court from
selling, transferring, assigning and/or dealing with any properties of theirs
that can 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 second defendant during the pendency of this 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.
The above
orders were made by Justice N. O. Dimgba, while granting Exparte application
for Mareva injunction filed 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) and the legal team.
The
plaintiffs/applicants in the suit, through their counsel, informed the court
that the application is supported with a 36-paragraph affidavit, a written
address, and several exhibits.
In granting
the orders sought for by the plaintiffs/applicants, Justice Dimgba held that:
“upon reading through the said Motion, it's Supporting Affidavit of Thirty-Six
(36) Paragraphs depose to by Damilola Olugbemi, Esq Male, Christian, Adult,
Nigeria Citizen of 25A Bourdillon Road, Ikoyi, Lagos attached Exhibits Marked
A-G and a Written Address signed by Ikeazo Igbokwe Esq Counsel to the
Plaintiffs/Applicant all filed at the Federal High Court Registry Ikoyi, Lagos
on the 30 days of April 2024.
“After
hearing A. Adedoyin-Adeniyi Esq with I. Igbokwe, Esq. C. J. Stephen Esq. and R.
Amachunam Esq. for the Plaintiff/Applicants move 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, | have come to the view that the
application deserves and accordingly granted as prayed”
Further
hearing of the substantive suit has been adjourned to May 24, 2024.
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