A High Court of the Federal Capital Territory has frozen bank accounts linked to TAK Logistics Limited, TAK Agro PLC, and their director, Thomas Etuh, over alleged debts totaling N24.9 billion. The court granted the interim order following an ex parte application filed by Keystone Bank Limited.
The court’s ruling includes a Mareva injunction restraining the defendants from accessing or dealing with any funds, shares, dividends, or other financial instruments up to the disputed amount. The court also directed all banks and financial institutions holding accounts operated by the defendants to preserve the funds and file affidavits within seven days, disclosing the balances and providing relevant bank statements.
The judge barred the defendants from transferring, selling, or otherwise disposing of any movable or immovable property pending the resolution of the matter. The court also granted an application for substituted service on Thomas Etuh, allowing Keystone Bank to serve court documents via courier or by posting them at his last known address.
The interim order will lapse seven days after it is served unless extended by the court. The matter was adjourned till July 22, 2025, for further hearing. The court ordered immediate compliance by all affected banks and financial institutions, including preserving any funds tied to the defendants and submitting full account disclosures.
