These are not the best of times of for Capital Trust Investment & Asset Management Limited and its owner, Seyi Oke over an alleged N6.2 billion debt.
This is as a federal high court in Lagos has ordered the freezing of bank accounts and assets linked to Capital Trust Investments & Asset Management Limited and Seyi Oke over the debt.
The court also restrained several financial institutions from allowing transactions involving the company, its subsidiaries, agents, sister companies or affiliates up to the claimed sum of N6,265,692,773.21.
According to court filings, the alleged indebtedness arose from an Irrevocable Standing Payment Order (ISPO) issued by the Sokoto State Government and an undertaking by Access Bank Plc to channel payments directly to designated accounts in favour of noteholders.
Through a Mareva injunction, the court barred the defendants and the affected banks from dealing with funds connected to the investment company and Seyi Oke pending determination of the suit.
The financial institutions affected by the order include Guaranty Trust Bank, Access Bank Plc, Ecobank Nigeria, First Bank of Nigeria, Zenith Bank Plc, United Bank for Africa, Wema Bank, Sterling Bank and several others operating in Nigeria.
The court further restrained Capital Trust Investments, Seyi Oke and associated persons from transferring, assigning, selling or otherwise dealing with identified properties allegedly linked to them.
The affected properties include buildings located at Haile Sellassie Street, Asokoro; Madeira Street, Maitama; and Justice Fatai Williams Street, Asokoro, all in Abuja.
In addition, the court directed the banks to file affidavits within seven days disclosing balances in accounts linked to the defendants as of the date of the order.
Justice N. O. Dimgba granted the orders after considering an ex parte application filed by Emerging Africa Trustees Limited, Apel Capital And Trust Limited, FBNQuest Trustees Limited, STL Trustees Limited and United Capital Trustees Limited.
The plaintiffs were represented by counsel Adetunji Adedoyin-Adeniyi on behalf of Arthur Nylander and his legal team.
In his ruling, Justice Dimgba stated that after reviewing the motion, supporting affidavit and accompanying exhibits, he found sufficient grounds to grant the requested Mareva orders.
The substantive suit was subsequently adjourned to May 24, 2024, for further hearing.
