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Legal Drama As Court Bars ShopRite Directors From Disposing Company Assets
A Federal High Court sitting in Ikoyi, Lagos, has issued an order restraining the directors of Retail Supermarkets Nigeria Limited (ShopRite) from selling the company’s shares or assets until an outstanding judgment debt is settled.....KINDLY READ THE FULL STORY HERE▶
Justice Ambrose Lewis-Allagoa also ordered the company’s directors, including Jide Ogundare, to fully declare all movable and immovable assets belonging to the firm.
The ruling followed an ex-parte application filed on November 21, 2025, in line with a consent judgment delivered on July 22, 2025.
Counsel to the judgment creditor, Tobenna Nnamani, moved the application, asking the court to grant garnishee orders nisi to freeze and attach funds belonging to the company in several banks.
The creditor is also seeking detailed information on major assets, including ShopRite’s distribution centre in Ajao, Lagos, as well as its trademarks.
The case has been adjourned to May 7, 2026, for further hearing as efforts continue to enforce the judgment debt.
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