A Federal High Court sitting in Ikoyi, Lagos, has issued an order restraining the directors of Retail Supermarkets Nigeria Limited, trading as ShopRite, from selling, transferring, or otherwise disposing of any shares or assets of the company until the full satisfaction of a judgment debt owed to a creditor.
Court Order and Asset Disclosure
The interim order was granted by Justice Ambrose Lewis-Allagoa following an ex-parte application filed by counsel to the judgment creditor, Tobenna Nnamani. The application sought to enforce a consent judgment entered on July 22, 2025. The court directed the directors to provide a comprehensive list of all movable and immovable assets belonging to the company to the judgment creditor.
Garnishee Orders and Financial Institutions
In addition to the asset restraint, the court granted garnishee orders nisi, attaching all funds held in accounts belonging to the judgment debtor across multiple financial institutions. This measure aims to secure the recovery of the outstanding debt.
Counsel to the judgment creditor has formally demanded that Mr. Jide Ogundare and other directors disclose details of all ShopRite assets, including the Distribution Centre at Ajao Estate, Lagos, and all relevant trademarks associated with the business.
The case has been adjourned to May 7, 2026, for the continuation of proceedings. The court's action underscores the judiciary's commitment to ensuring that judgment debts are honored and that corporate assets are not dissipated pending the resolution of financial obligations.
