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By Abdullahi Abubakar
A High Court of the Federal Capital Territory (FCT) has issued an interim order freezing bank accounts linked to TAK Logistics Limited, TAK Agro PLC, and their director, Thomas Akoh Etuh, over alleged funds totaling N24.9 billion.
The court granted the order on the strength of an ex parte application filed by Mofesomo Tayo-Oyetibo (SAN) on behalf of Keystone Bank Limited. The ruling includes a Mareva injunction, effectively barring the defendants from withdrawing, transferring, or dissipating any funds, shares, dividends, or financial instruments currently in their possession.
In a sweeping directive, the court ordered all banks and financial institutions holding accounts for the defendants to preserve the funds and file affidavits within seven days disclosing the account balances and accompanying statements.
The court further restrained the defendants — directly or through proxies — from disposing of any movable or immovable property up to the value of N24,934,741,718.91, pending the determination of the suit.
Specifically, the court ruled:
“The Defendants, whether by themselves, their directors, agents, or assigns, are hereby restrained from withdrawing, transferring, dissipating, or otherwise dealing with funds, shares, dividends, or other financial instruments up to the sum of N24,934,741,718.91 or any part thereof in any account maintained with any bank or financial institution.”
The order also mandated banks to immediately comply with the directive upon service, including preserving any financial instruments linked to the Bank Verification Number (BVN) 22273745073, which is associated with the third defendant.
Furthermore, banks must file an affidavit within seven days of receiving the order, detailing all funds and instruments held for the defendants, along with complete account statements.
The court also granted leave for substituted service on Thomas Etuh by courier or by affixing court documents at his known residential address.
The interim order is set to remain in effect for seven days from the date of service, subject to further court action.
The matter has been adjourned to July 22, 2025, for continuation of proceedings.
