A Federal High Court in Lagos has granted an ex-parte order freezing the bank accounts and other assets of Dr. ABC Orjiako due to alleged indebtedness to Access Bank Plc. The order was issued in response to an ex-parte application filed by Access Bank in a case numbered FHC/L/BK/08/2023.
Justice Nicholas Oweibo, the trial judge, approved the order, which restrains Dr. Orjiako from operating, withdrawing from, or tampering with his funds in any bank or financial institution within Nigeria. The freeze is in effect pending the hearing and determination of a motion on notice for the appointment of a Special Manager, which has also been filed.
The court’s order also extends to Dr. Orjiako’s agents, servants, or any other individuals or entities under his authority, and includes his former employers and investment vehicles. The purpose of the freeze is to preserve Dr. Orjiako’s assets until his alleged indebtedness is resolved.
The respondents in the case include Helko Nigeria Limited, Neymeth International Pharmaceuticals Plc, Salvic Petroleum Resources Limited, and Zebbra Energy Limited, among others.
Additionally, the court authorized Access Bank to take over and preserve all assets belonging to Dr. Orjiako, either directly or through proxy, including specific properties. The court order also compels all banks and financial institutions holding Dr. Orjiako’s accounts to provide information about the sums in his accounts within seven days.
This legal development highlights the ongoing dispute between Dr. Orjiako and Access Bank, emphasizing the significant role of legal mechanisms in resolving financial disputes and safeguarding creditors’ interests.