Court Blocks Firms Accounts in 24 Banks; “The Firms are Triton Aqua Africa, Bharat Ventures, Globus Resources, Seafood Products and Mr Ashvin Samtani’

A Federal High Court in Lagos has restrained Triton Aqua Africa Ltd, Bharat Ventures Ltd, Globus Resources Ltd, Seafood Products Ltd and Mr Ashvin Samtani from accessing their funds up to N2,193,610,859.47 billion in 24 banks.

Justice Oluremi Oguntoyinbo, who made the order in suit FHCLCS/354/2021, ruled that the interim order subsists pending the hearing and determination of the Motion and Notice filed by Union Bank of Nigeria Plc.

The judge also restrained them in the interim from disposing of their assets at 49 Apapa-Oshodi Expressway, Ijeshatedo, Lagos and 27, Inuwa Abdulkadir Road, Kakuri Industrial Layout, Kaduna South Local Government Area (LGA), Kaduna.

The banks, who are 6th to 28th respondents, are: Fidelity Bank, First Bank of Nigeria, First City Monument Bank, Guaranty Trust Bank, Globus Bank Ltd, Heritage Bank, Jaiz Bank Ltd, Keystone Bank Ltd, Polaris Bank Ltd, Providus Bank, Stanbic IBTC Bank Nigeria Ltd, Standard Charted Bank Nigeria Ltd, Sterling Bank, Suntrust Bank Nigeria Ltd. Titan Trust Bank Ltd, ,United Bank for Africa, Unity Bank, Wema Bank and Zenith Bank Plc.

The order followed Union Bank’s March 4, 2021 motion ex-parte in the alleged debt recovery suit.

The judge stopped the five defendants  in the interim “from dealing with any of the monies standing to their credit in custody or that may come to be in custody of the 6th to 28th respondents up to the tune of N2,193,610,859.47 or its equivalent in any foreign currency, pending the hearing and determination of the Motion and Notice.

She further restrained the 24 banks and Union Bank or anyone acting on their behalf from releasing to the 1st to 5th defendants any monies, funds or any other instrument belonging to them up to N2,193,610,859.47 or Its equivalent in any foreign currency, that may be or found in their custody or possession.

She further restrained in the interim Triton Aqua Africa, Bharat Ventures, Globus Resources, Seafood Products and Samtani or anyone under their authority from tempering with, their assets/properties within their premises at 49 Apapa-Oshodi Expressway, Ijeshatedo, Lagos State.

The 1st to 5th Defendants or anyone under their authority were also restrained in the interim from tempering howsoever with any of the 1st to 3rd Defendants’ assets/properties “within the premises of the property at 27, Inuwa Abdulkadir Road, Kakuri Industrial Layout, Kaduna South Local Government Area (LGA), Kaduna, particularly but not limited to all the assets/properties of the 4th Defendant, which have been charged in favour of the Plaintiff by virtue of a Deed of All Assets Debenture dated 25 May, 2011 between Seafood Products Ltd (the issuer) and the Plaintiff on the account of the 2nd Defendant.”

The 6th to 28th respondents were also directed “to disclose on oath whatever sum of money that may be in their custody belonging to the Defendants for further direction of the Honourable Court.”

The judge adjourned till April 14, 2021 for hearing of the Interlocutory Application.

[4/8, 9:42 PM] SM Undercover Court: Why I established LawFM radio-Oyetibo

Lagos lawyer, and founder, LAW FM, Mr Tayo Oyetibo SAN has explained that the  radio station is intended to provide the “knowledge of law to the doorstep of the people, using the ordinary man’s language and in an entertaining fashion’.

In an exclusive interview with Gavel International,Oyetibo reiterated that ignorance of the law is not an excuse, saying that the percentage of Nigerian populace that understands the provision of the law is very low.

With the establishment of the station, Oyetibo became the second Nigerian lawyer to establish a radio station, the first being Chief Wole Olanipekun SAN, who founded NewCruse FM, at Kajola, Ikere-Ekiti, his home town.

Oyetibo said: “I have always thought of how to bring knowledge of the law closer to the people.  Law affects almost every facet of human interactions, yet it appears so far away from the people. Radio Broadcast is one of the ways of achieving this objective of bringing knowledge of the law to the doorstep of the people”.

He said LAW FM will provide a platform for socio-legal discourses on issues. “There are different Programmes designed to address some of the challenges facing the people. Most of the Programmes are interactive whereby listeners are afforded the opportunity to make contributions”.

The Ondo city born lawyer has practised law for an upward of 30 years. He was born on June 24, 1960. He attended St. Joseph’s Primary School, Ondo, 1966-71; Ondo Grammar School, 1972-76; University of Lagos, 1979-82; 1984-85; Nigerian Law School.

He joined the chambers of the late Chief Gani Fawehinmi SAN and rose to the position of Deputy Head of Chambers. He is a Deputy Editor, Nigerian Weekly Law Reports founded by the late Fawehinmi. He is also Deputy Editor, Supreme Court of Nigeria Law Reports.

He established Tayo Oyetibo &Co., Solicitors and Barristers in 1991 and is the Principal Counsel till date. He attained the rank of Senior Advocate of Nigeria in 2003 and has remained one of the major players in the Nigerian legal circle till date.