Justice A.I. Akobi of the High Court of the Federal Capital Territory has frozen bank accounts linked to TAK Logistics Limited, TAK Agro PLC, and their director, Thomas Etuh, due to alleged debts totalling N24.9 billion.
The court on Monday granted the interim order following an ex parte application filed by Mofesomo Tayo-Oyetibo, (SAN), on behalf of Keystone Bank Limited.
The order made by Justice Akobi includes a Mareva injunction prohibiting the defendants from accessing or dealing with any funds, shares, dividends, or other financial instruments up to the disputed amount.
In the ruling, the court also ordered all banks and financial institutions holding accounts operated by the defendants to preserve the funds and to file affidavits within seven days, disclosing the balances and providing relevant bank statements.
The judge further barred the defendants from transferring, selling, or otherwise getting rid of any movable or immovable property pending the resolution of the matter.
Furthermore, the court granted an application for substituted service on the third defendant, Thomas Etuh, allowing Keystone Bank to serve court documents via courier or by posting them at his last known address.
The court ordered that, “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.”
In addition, the court ordered immediate compliance by all affected banks and financial institutions, including a requirement to preserve any funds tied to the defendants and submit full account disclosures: “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 said that the order applies to accounts associated with the defendants, including those linked to the Bank Verification Number (BVN) 22273745073.
Unless the court extends it, the interim order will expire seven days after it is served.
Consequently, the matter was adjourned till July 22, 2025, for further hearing.
