The Federal High Court in Ikoyi has slammed the brakes on Shoprite’s directors, barring them from selling any shares or assets until a N1.76 billion judgment debt is fully paid.
Justice Ambrose Lewis-Allagoa handed down the restraining order after an ex parte application filed November 21, 2025, to enforce a consent judgment the court entered months earlier on July 22, 2025.
The judge went further: Shoprite’s directors must now lay bare all company assets — movable and immovable — to the judgment creditor.
Tobenna Nnamani, counsel to the creditor, had pressed the court for garnishee orders nisi to freeze funds belonging to the judgment debtor across multiple banks.
With the order in hand, the creditor’s lawyers are now demanding specifics from director Jide Ogundare and the rest of Shoprite’s board. On the list: the distribution centre in Ajao, Lagos, and all relevant trademarks.
The case was adjourned to May 7, 2026, for further proceedings.
THE CONCLAVE reports that the clampdown traces back to a N1.76 billion judgement debt.
Shoprite, according to court filings, failed to comply with a court-approved settlement — a breach that has now triggered the asset freeze.
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