A Lagos Federal High Court, presided by Judge
Saliu Seidu has ordered 19 commercial banks in
Nigeria, to refrain top businessman Chief
Sunny Odogwu, and his two companies: Robert
Dyson & Diet Limited, and SIO Properties
Limited, from making any withdrawal from
their accounts.
The order of the court followed an order of
Mareva injunction, Diamond Bank Plc, for
alleged refusal of Chief Odogwu and his
companies to offset the loan of
N26,229,943,035.22, they obtained from the
bank (A Mareva injunction is a temporary
injunction that freezes the assets of a party
pending further order or final resolution by
the Court).
The bank also sought for an order restraining
Chief Odogwu and his two companies, their
agents, privies, or assigns from disposing,
selling, transferring, and or alienating any of
its movable or immovable asset, money, share,
stock and other negotiable instrument pending
the determination of the substantive suit.
The bank in a sworn affidavit, claims that
sometimes in 2007, SIO Properties Limited, and
Chief Odogwu, on behalf of Robert Dyson &
Diket Limited company, approached the bank
and required huge finance to be applied and
disbursed as at when due for their project
called ‘Luxury Collection Hotels and
Apartments’, formerly Le Meridian Grand
Tower, to be constructed at 31-35, Ikoyi
Crescent, Ikoyi, Lagos, in the name of SOI
Properties Limited of which Chief Sonny
Odogwu is the chairman and major owner.
The bank is also asking for an order granting
leave to it to foreclose and sell the said
property situated at 31-35 Ikoyi Crescent,
Ikoyi, Lagos. The case has been adjourned till
December 12 by the judge .