Access Bank Debt: Court Freezes All Bank Accounts Of Multi-Billionaire, Dr. ABC Orjiako

A Federal High Court sitting in Lagos, on Thursday, August 10, 2023, granted an ex-parte order freezing the bank accounts and other assets of Dr ABC Orjiako over indebtedness to Access Bank Plc.

The Court presided over by Justice Nicholas Oweibo while ruling on the case, declared that; “A consequential order is hereby made, directing and/or compelling all banks/financial institutions harbouring the debtor’s (Orjiako) account(s) to depose to an oath, the sums standing to the credit of the debtor in their custody within seven days from being served with a copy of the order of the court.

The trial judge authorised the creditor (Access Bank) to take over and preserve all the assets of the debtor (Ojiako), wherever same may be found, specifically the following properties belonging to the debtor be it directly or via proxy.

The Court which granted the order while ruling on an ex-parte application filed by the bank in suit FHC/L/BK/08/2023, also restrained Orjiako, 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.

Justice Oweibo also restrained Orjiako’s former employers and his other investment vehicles from having anything to do with him financially until his case of indebtedness to Access Bank was cleared.

Respondents in the suit included Helko Nigeria Limited, Neymeth International, Pharmaceuticals Plc, Salvic Petroleum Resources Limited, and Zebbra Energy Limited, among others.

The court upon the motion by Access Bank held: “That an interim order is hereby ordered restraining the debtor (Orjiako), 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”.