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Lagos Court Blocks Five Customers’ Funds in 24 Banks

A Federal High Court in Lagos has barred Triton Aqua Africa Ltd, Bharat Ventures Ltd, Globus Resources Ltd, Seafood Products Ltd and Mr Ashvin Samtani from accessing their funds up to N2,193,610,859.47bn domiciled in 24 banks.

Justice Oluremi Oguntoyinbo, who presided of the suit FHCLCS/354/2021, ruled that the interim order subsisted pending the hearing and determination of the Motion and Notice filed by Union Bank of Nigeria Plc, according to a statement titled ‘N2.1bn ‘debt’: Court blocks five customers’ funds in 24 banks.’

The judge also restrained them in the interim from disposing of their assets at 49 Apapa-Oshodi Expressway, Ijeshatedo, Lagos and 27, Inuwa Abdulkadir Road, Kakuri Industrial Layout, Kaduna South Local Government Area, Kaduna.

The order followed Union Bank’s March 4, 2021 motion ex-parte in the alleged debt recovery suit, the statement explained.

The judge stopped the five defendants in the interim ‘from dealing with any of the monies standing to their credit in custody or that may come to be in custody of the 6th to 28th respondents up to the tune of N2,193,610,859.47 or its equivalent in any foreign currency, pending the hearing and determination of the Motion and Notice’.


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