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Home News National

Debt: Court freezes billionaire, ABC Orjiakor’s bank accounts, assets

by Enyeh Julius Akpovire
August 10, 2023
in National
Debt: Court freezes billionaire, ABC Orjiakor's bank accounts, assets
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These are not the best of times for Nigerian billionaire businessman and oil magnate, ABC Orjiakor, as a Federal High Court sitting in Lagos has ordered the freezing of his bank accounts and other assets over an alleged unpaid debt.

Justice Nicholas Oweibo of a Federal High Court Lagos made the order freezing the accounts while granting an ex-parte application filed by Access Bank Plc over alleged indebtedness to the bank by the respondents.

The judge granted the order while ruling on a Motion Ex Parte dated the 12th day of July, 2023 filed by Access Bank in charge number: FHC/L/BK/08/2023.

While granting the order, the court also restrained Orjiakor, his agents, servants and/or privies or any other person or group of persons whatsoever under his authority or any other authority from operating, withdrawing from or otherwise tampering and/or dealing with his funds in any Bank and/or Financial institution within Nigeria pending the hearing and determination of the Motion on Notice for the appointment of a Special Manager filed along herein.

The court went further to restrain his former employers and his other investment vehicles from having anything to do with ABC Orjiakor financially until his indebtedness is cleared.

Listed as Respondents in the Charge are Helko Nigeria Limited, Neymeth International Pharmaceuticals Plc, Salvic Petroleum Resources Limited, Zebbra Energy Limited, amongst others.

The court order reads: “That an Interim Order is hereby ordered restraining the Debtor (Dr. Ambrosie Bryant Chukwueloka Orjiakor), his agents, servants and/or privies or any other person or group of persons whatsoever under his authority or any other authority (howsoever derived or sourced) from operating, withdrawing from or otherwise tampering and/or dealing with his funds in any Bank and/or Financial institution within Nigeria pending the hearing and determination of the Motion on Notice for the appointment of a Special Manager filed along herein.

“That a Consequential Order is hereby made, directing and/or compelling all Banks/Financial Institutions harbouring the Debtor’s. (Dr. Ambrosie Bryant Chukwueloka Orjiako) account(s) to depose to Oath the sums standing to the credit of the Debtor (Dr.Ambosie Bryant Chukwueloka Orjiakor) in their custody within seven days from being served with a copy of the Order of Court.

“That Interim Order is hereby made restraining the Respondents from dealing with shares, investments, bonds, assets, funds howsoever described belonging to the Debtor (whether held by him directly or via proxy) in their custody and/or in custody of any bank/financial institution pending the hearing and final determination of the Motion on Notice for the appointment of a Special Manager filed along herein.

“That a Consequential Order is hereby made directing and/or compelling Respondents harbouring the Debtor’s (Dr. Ambrosie Bryant Chukwueloka Orjiakor) shares, assets, bonds, funds howsoever described, whether held directly by the said Debtor or via proxy, to depose on Oath the shares, assets, investments, sums etc,’ standing to the credit of the Debtor (Dr. Ambrosie Bryant Chukwueloka Orjiakor) in their custody within 7 (seven) days from being served with a copy of the order of the court.

“That an Interim Order is hereby made restraining the Debtor (Dr. Ambrosie Bryant Chukwueloka Orjiakor), his agents, Servants and/or privies from interfering with, tampering, removing from jurisdiction of this Honourable Court his funds, investments, bonds, shares, pecuniary and other beneficial interests in all banks, financial institution and/or company in Nigeria principally in Shebah Exploration and Production Company Limited, Allenne Limited and in the other Respondents pending the hearing and final determination of the Motion on Notice for the appointment of a Special Manager filed along herein.

“That an order is hereby made authorizing the Creditor herein to take over and preserve all the assets of the Debtor, whether same may be found, specifically the following properties belonging to the Debtor be it directly or via proxy:

Tags: ABC OrjiakorAccess Bank PlcCourtHelko Nigeria LimitedNeymeth International Pharmaceuticals PlcSalvic Petroleum Resources LimitedZebbra Energy Limited

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