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

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.

مصر أحدث الأخبار, مصر عناوين

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Pollution: Reps to probe oil companies for alleged violation of PIAThe lawmakers noted that many oil wells in oil-producing communities are depleted and are no longer commercially viable, resulting in the sale of old upstream assets by international and local oil and gas companies.
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