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Alleged N20.7bn Debt: Court Freezes Oil Company, Businessman’s Accounts, Assets

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Other respondents in the suit are Ajibola Bankole Adetutu, Garba Mohammed and Lolag-Sons Nigeria Company.

The judge further granted an order restraining the defendants from selling, transferring, assigning and dealing with the properties used as collateral to secure the loan.

The judge granted the order freezing the assets following an exparte application filed by Union Bank through its lawyer, Adetunji Adedoyin-Adeniyi of AAA Chambers.

The applicant also alleged that the first and second defendants have failed to comply with the Memorandum of Settlement dated March 6, 2018, which has increased their indebtedness that they have not attempted to liquidate.

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