Justice A.I. Akobi of the High Court of the Federal Capital Territory has issued an interim order freezing all bank accounts associated with TAK Logistics Limited, TAK Agro PLC, and their director, Thomas Etuh, over an alleged N24.9 billion debt.
The decision followed an ex parte application brought before the court by Senior Advocate of Nigeria, Mofesomo Tayo-Oyetibo, on behalf of Keystone Bank Limited.
The judge granted a Mareva injunction preventing the defendants from accessing or dealing in any way with funds, shares, dividends, or other financial instruments up to the total disputed amount.
In the ruling, Justice Akobi directed all commercial banks and financial institutions operating any of the defendants’ accounts to preserve the funds and to disclose account details.
“Within seven days of being served with this order, each bank or financial institution shall file an affidavit stating the balances in all accounts held by the defendants, along with relevant statements,” the court stated.
Additionally, the judge barred the defendants from selling, transferring, or otherwise disposing of any movable or immovable property pending the outcome of the case.
The court also granted Keystone Bank’s request for substituted service on the third defendant, Thomas Etuh, allowing the bank to serve court papers either through courier or by posting them at his last known address.
In a portion of the court’s order, it declared: “The defendants, their directors, agents, privies, or representatives are hereby restrained from withdrawing, transferring, dissipating, or otherwise dealing with funds, shares, dividends, or any other financial instruments up to the sum of N24,934,741,718.91, or any part thereof, in any bank or financial institution.”
The judge emphasized that the restriction applies to any account linked to the defendants, including those associated with the Bank Verification Number (BVN) 22273745073.
The court directed immediate compliance with the order from all relevant financial institutions. The interim order, however, is set to expire seven days after it is served unless it is renewed by the court.
The matter has been adjourned until July 22, 2025, for further hearing.
