Alleged 3.9bn Debt: Court Restrains Nigeria Commercial Bank From Dealing With Purple Real Estate Company

The Federal High Court sitting in Lagos has restrained about thirty commercial banks and all other financial institutions operating in the country from releasing or dealing in any money and assets belonging to Purple Real Estate Development Company Ltd and its sister company, Purple Real Estate Income Ltd which were co-founded by one Laide Agboola.

The court gave the exparte order after listening to the submission of counsel to the plaintiffs, Adetunji Adedoyin-Adeniyi of AAA chambers. Justice Aneke also directed the Banks to file within 7 days, an affidavit disclosing the balance on the Defendants’ accounts maintained with the Banks as at the date of the Order.

The court also made an order directing the Inspector General of Police, the Assistant Inspector General of Police Zone 2, the Commissioner of Police, Lagos State, the Commandant/ General of the Nigeria Security and Civil Defence Corps, his Assistants, and all other officers under their command to assist theFurther hearing in the suit was then adjourned to July 22nd 2024.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Alleged N42b debt: AMCON moves against firm’s MD, directorsThe Asset Management Corporation of Nigeria, AMCON, has initiated bankruptcy proceedings against the Chairman of Milan Industries Limited, Milan Nigeria Ltd and Milan Beverages Ltd, Rajesh Valecha and four other directors of the companies over their alleged inability to repay a N42billion debt.
Source: vanguardngrnews - 🏆 5. / 75 Read more »

Blame NASS for failure in Nigeria economy, rising debt, says Ita EnangThe Nation Newspaper Blame NASS for failure in Nigeria economy, rising debt, says Ita Enang
Source: TheNationNews - 🏆 6. / 69 Read more »

Nigeria’s foreign debt servicing gulps $1.12bn in Q1 2024The Nigerian government has spent around $1.12 billion on foreign debt service payments in the first quarter of 2024. Data from the Central Bank of Nigeria, CBN, showed that debt service payments had risen in the past few years. In Q1 2023, debt servicing stood at $801.
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Enang blames N’Assembly for naira collapse, Nigeria’s huge debtA Trusted Nigerian Newspaper
Source: NigeriaNewsdesk - 🏆 10. / 63 Read more »