A Federal High Court sitting in Lagos has ordered the suspension of accounts of Swift Networks Limited, domiciled in 25 banks in Nigeria, over alleged indebtedness to the tune of N7 billion to Union Bank Plc.
The presiding judge, Justice Daniel Osiagor, also restrained the 25 banks from releasing to the alleged debtor firm or any of its affiliates, agents, privies, assignees, or anyone whatsoever, any monies, funds, or any other instrument belonging to the company, to the tune of N7,037,410,548.23 billion, or its equivalence in any foreign currency that may be or be found in their custody or possession, till the determination of the suit.
Justice Osiagor also made an Interim order of Injunction restraining the company, its directors, staff, management, employers, agents, officers, privies or any other person or group of persons whatsoever under the company’s’ authority or any other authority (however derived or sourced) from tempering with, selling, leasing, removing from the court’s jurisdiction, or dealing in whatsoever manner with the any of the company’s assets/properties in whatsoever form within the court’s jurisdiction, particularly but not limited to all the assets/properties within the premises of the company, at 31, Saka Tinubu Street, Victoria island, Lagos State, pending the hearing and determination of the Motion on Notice.
In addition, Justice Osiagor made an order directing all the 25 banks to disclose on oath whatever sum of money may be in their custody belonging to the company, for further direction of the Court.
Justice Daniel Osiagor made the above orders while granting an ex parte motion for an Interim Order Of Mareva Injunction, filed and moved by Barrister Temilolu Adamolekun, on Thursday.
The affected banks are: Access Bank Plc; Citibank Nigeria Limited; Ecobank Nigeria Limited; Fidelity Bank Plc; First Bank Of Nigeria Plc; First City Monument Bank Plc; Guaranty Trust Bank Plc; Globus Bank Limited; Heritage Bank Plc; and Jaiz Bank Limited.
Others include Keystone Bank Limited, Lotus Bank Limited, Parallex, Polaris Bank Limited, Providus Bank Limited, Stanbic-Ibtc Bank Nigeria Limited, Standard Chartered Bank Limited, Sterling Bank Plc, Suntrust Bank Nigeria Limited, Titan Trust Bank Limited, United Bank Of Africa Plc, Unity Bank Plc, Wema Bank Plc, and Zenith Bank Plc.
Making his case on behalf of the plaintiff, Adamolekun had approached the court for the above-granted orders as contained in the motion ex parte supported by an 11-paragraph affidavit, deposed to by Segun Omoshola.
Meanwhile, upon the granting of the orders by the court, it was gathered that the majority shareholders of the company became apprehensive about its future.
