Alleged N6.2bn Debt: Court freezes all accounts, assets linked to Capital Trust Investment

 The Federal High Court, sitting in Lagos has restrained all commercial banks, 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.

Justice Nnamdi Dimgba 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 situate up to the amount of the Plaintiff/Applicant’s total claim in the sum of N62bn, 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 by virtue of the Mareva order stopped the Banks and the defendants from dealing with the funds in the accounts of investment firm and Seyi Oke over the alleged debt 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 it’s alter Ego, Seyi Oke, it’s 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’sdesignated 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 No, 9 Haile Sellassie Street Asokoro, Abuja; No. 42 Madeira Street, Maitama, Abuja And No. 14 Justice Fatai Williams Street Asokoro Abuja, disclosed by the 2nd 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 No. 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 paragraphs 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, its 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 day 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.